Solana (SOL) Faces Selling As Ripple (XRP) Token Unlock Surprises; Algotech (ALGT) Is The Best Presale To Invest In 2024

2 March 2024

in XRP

Reading Time: 4 mins read

The crypto market has witnessed the emergence of a highly-promising project – Algotech (ALGT). The popularity and demand for this new project are so high that analysts expect it to become the next Bitcoin. Its ongoing presale is likely to sell out before the due date. This article will help understand why Algotech (ALGT) has turned out more stable and profitable than Solana (SOL) and Ripple (XRP).

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Solana (SOL) Whales Opt Short Positions

Due to the recent price correction of Solana, whales have changed their stance on SOL tokens. The data from Hyblock Capital revealed that whales are decreasing their long positions on Solana (SOL).

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The number of Solana (SOL) whales with long positions on Binance has declined to 66% from 69%. The price of Solana (SOL) has suffered a downfall of 9% in the past week. Consequently, the trading price of Solana (SOL) stands at $129.39.

However, Solana (SOL) has witnessed a 30X surge in its transaction fee since October 2023.This, in turn, has improved the revenue of Solana (SOL).

Ripple Unlocks XRP Tokens Without Schedule

A sudden token unlock event by the Ripple network has intrigued the XRP community. According to Whale Alert, Ripple recently unlocked 400 million XRP tokens from its escrow account.

Notably, these Ripple (XRP) tokens were worth around $217 million. Moreover, they were unlocked without any schedule. Usually, Ripple unlocks XRP tokens from its escrow account on the first day of every month. Therefore, the reasons behind the latest Ripple (XRP) unlock event are not clear.

Meanwhile, the price trajectory of Ripple (XRP) has moved southward by 3%. Hence, at press time, Ripple (XRP) is changing hands at $0.59.

Algotech (ALGT) Raises Millions In Presale

Although there are no shortcuts in the trading world, Algotech (ALGT) is a tool that can help you make profits in millions. It will soon enter the market as a new algo-based crypto trading platform. Notably, Algotech (ALGT) is in a prime position to become the best in the global trading market.

Algorithmic trading has become extremely popular lately. It offers low transaction costs, high throughput, and no emotional interference or biases. Reports suggest that the size of the algorithmic trading industry can surge at a CAGR of over 8% by 2029.

Algotech (ALGT) will use smart technologies and algorithms to study large data sets and market trends. Using artificial intelligence, the platform will scan all records, and instantly detect and eliminate any malicious transactions.

The platform’s smart contract is successfully audited, and offers full transaction visibility. Additionally, the core team members of Algotech (ALGT) have undergone a KYC procedure. The scalability of this project is worth praising. Without jeopardizing its speed, Algotech (ALGT) can process a significant amount of transactions.

The platform’s reward scheme has also garnered much fanfare. Algotech (ALGT) has unveiled a reward scheme that has eight levels. Users at the first level are entitled to receive 1% of the company’s profits, while traders at the eighth level will earn 10%.

Over 57% of Algotech’s (ALGT) presale stage 1 is sold out. At press time, the project has raised more than $1 million. Currently, an ALGT token is available to purchase at just $0.04. However, ALGT tokens’ market price is likely to soar by 275% during the presale phase.