Takeaways:
- A Solana whale has bought almost 1.1M in $SOL
- Bitwise is about to release an entirely $SOL ETF onto the NYSE
- Solana is pushing back up against $200
- PEPENODE ($PEPENODE) and Bitcoin Hyper ($HYPER) may benefit from whale buys
The Bitwise Solana ETF launched on Tuesday to much fanfare. Still, sharp-eyed analysts observing the market noticed something interesting during the launch: a single whale buying almost 1.1M SOL in a buying spree worth over $218M.
The whale’s identity is still unknown, but the movement lines up with $SOL trying to climb back above $200 after falling from highs near $220 during the October flash crash.
Bitwise’s Solana Staking ETF will begin trading under the ticker BSOL on October 28 this year on the NYSE. It is the first fully Solana ETF in the US, offering the added benefit of direct exposure to Solana’s built-in staking.
A strong interest in Solana suggests that the crypto market is heading towards a bull run, so we’ve identified three altcoins that we believe could benefit from significant whale investment. Read on to learn more about PEPENODE ($PEPENODE), Bitcoin Hyper ($HYPER), and Solana ($SOL).
1. PEPENODE ($PEPENODE) – A Meme Coin with Mine-To-Earn Gameplay
PEPENODE ($PEPENODE) is a Mine-To-Earn simulator that lets you live out all of your crypto mining dreams without the need to invest in expensive hardware. It’s all virtual, but you earn real $PEPENODE as a result of your virtual mining rig.
The PEPENODE project is pioneering new territory for crypto. It’s an on-chain mining simulator that supports the first Mine-To-Earn meme coin, $PEPENODE.
Whales already dominate the real-world crypto mining industry, and it’s only becoming more costly as proof-of-work coins grow harder to mine – a far cry from the early wild west days of crypto. PEPENODE lets you relive those glory days with your own server simulator space.
When you open PEPENODE, your virtual server room will be empty. You build it up by purchasing server nodes in $PEPENODE, which contribute to your overall hashing rate. Buying more efficient servers will boost your rate, but some nodes have unique properties, so experiment with different combinations to find the maximum yield.
The whole economy revolves around the $PEPENODE token. You buy new servers by spending the token, but it acts more like staking – you can refund your PEPENODE servers at any time and receive liquid $PEPENODE you can use to buy better servers or cash out into other crypto.
Keep in mind, doing so will lower your hashrate. You can maximize your gains by buying $PEPENODE at a lower price during the presale. Currently, it has raised nearly $2M in presale funds, pushing the price up to $0.0011227. Don’t wait too long, as it’s a dynamic presale, and the price will keep increasing up.
Early adopters already gain an advantage by having the $PEPENODE to build a server as soon as the platform launches, but that’s not all. All the $PEPENODE purchased during the presale can also be staked for up to 649% annual rewards, increasing your chances of surpassing the live PEPENODE leaderboards.
Join the PEPENODE project before the game goes live.
2. Bitcoin Hyper ($HYPER) – An Innovative Layer-2 Hypercharging the Bitcoin Network
Bitcoin Hyper ($HYPER) is the answer to Bitcoin’s scalability issues. It’s a Layer-2 based on a Solana Virtual Machine (SVM) with zk-rollups, which aims to address the issues Bitcoin faces with slow transaction speeds and ever-increasing fees.
Bitcoin has dominated the cryptocurrency market, but that doesn’t mean it’s the perfect cryptocurrency. It’s great for long-term investment due to its rock-solid security guarantees, but that same security technology massively slows down the Bitcoin network.
Solana is significantly quicker, capable of processing thousands of transactions per second. That’s why the Bitcoin Hyper developers are using an SVM to build a Layer-2 for Bitcoin, which can temporarily handle transactions and commit them to the Layer-1 when congestion is lower.
Adding an SVM has the added benefit of allowing $BTC to be used in smart contracts. That opens up a world of Web3 applications for Bitcoin, so you’ll be able to trade crypto, send NFTs, and access DeFi apps using the Bitcoin Hyper network.
Everything on the Bitcoin Hyper network is powered by $HYPER. It’s the official utility token for Bitcoin Hyper, and it’s already in high demand, based on the presale. It reduces the transaction fees on crypto you buy on Bitcoin Hyper, as well as giving you access to the Bitcoin Hyper DAO.
Most importantly, $HYPER grants you access to exclusive features on select smart contracts running on the Bitcoin Hyper network. You can purchase yours today for just $0.013185, but the presale price is rising as over $25.2 million worth of tokens have already been sold.
Get your $HYPER tokens today and get up to 47% in staking rewards.
3. Solana ($SOL) – One of the Fastest Layer-1 Blockchains
Solana ($SOL) is the token associated with the Solana blockchain, a high-performance Layer-1 designed to support decentralized apps and crypto tokens in an environment that’s fast and charges minimal fees for interacting with the blockchain.
The Solana protocol utilizes a proof-of-stake consensus mechanism, combined with an innovative proof-of-history mechanism, which significantly reduces validation times. In a nutshell, proof-of-history enables Solana nodes to verify the order in which transactions occur without requiring a total consensus on the timing.
Solana’s devs are constantly working on new ways to make the Solana blockchain even faster. Just today, Helius announced that they have solved the biggest RPC problem Solana has, massively reducing the number of transactions required to index back through older Solana transactions and lowering latency throughout the network.
$SOL is slowly recovering after a rocky October, during which the price dropped to lows around $173. Over the past week, $SOL has risen by almost 7% to reach $196. News of increasing whale activity may push $SOL back over the key psychological barrier of $200, after which we could see a return to the prices seen in September.
You can purchase $SOL through most CeX and DeXs.
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Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/best-altcoins-to-watch-as-whale-bought-218-million-solana/