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Solana Defies Trend as Digital Investment Products Record $305M Outflows  

Lele Jima
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Solana Defies Trend as Digital Investment Products Record $305M Outflows  

Digital investment products tied to Solana (SOL) witness significant net inflows despite overall negative trends across the market.

According to data from CoinShares, Solana saw net inflows worth $7.6 million, bringing its year-to-date (YTD) flow to $39 million. This represents a major spike of 7,500% compared to the $100,000 recorded in the previous week. 

Despite boasting impressive stats in the YTD and weekly timeframe, Solana has registered month-to-date (MTD) net outflows of $26.7 million. 

Flows by assets
Flows by assets

Solana Surpasses Bitcoin and Ethereum 

Nonetheless, Solana’s performance is impressive compared to the figures registered for Bitcoin (BTC) and Ethereum (ETH). Per the data, while Bitcoin saw a jaw-dropping net outflow of $319 million last week, Ethereum’s outflow stood at $5.7 million within the same period. 

Other Assets Performance 

It bears mentioning that Solana was not the only digital investment product that registered inflows last week. According to CoinShares’ report, Binance Coin (BNB), Litecoin (LTC), Short Bitcoin, and Cardano (ADA) registered $800,000, $300,000, $4.4 million, and $300,000 in inflows last week. 

Additionally, multi-asset crypto investment products experienced weekly inflows of $6.4 million, bringing their MTD and YTD inflows to $68 million and $296 million, respectively.

Furthermore, digital investment products in XRP (XRP) and Tron (TRX) did not register inflows nor outflows in the past week. Despite this, products on these assets still have $90 million and $47 million in assets under management, respectively. 

Following the outflows registered for Bitcoin and Ethereum, digital investment products ended the past week with $305 million in net outflows. CoinShares attributed this negative sentiment to declining expectations for a 50-basis point interest rate cut in the United States. 

Flows by Regions and Providers  

Meanwhile, CoinShares’ data shows that most outflows occurred via Ark 21Shares, one of the issuers of Bitcoin spot ETFs. In particular, the U.S. arm of ARK 21Shares reported weekly outflows of $221 million, followed by Grayscale Investments, which saw $143 million in outflows. 

Other providers of digital investment products like Fidelity, Bitwise, 21Shares AG, and CoinShares XBT registered weekly outflows of $63 million, $57 million, $6 million, and $4 million, respectively. 

Conversely, BlackRock’s iShares ETF recorded an impressive performance last week, leading to $219 million in inflows. 

Flow by provider
Flow by provider

Regionally, the United States witnessed the most outflows at $318 million last week, followed by Germany and Sweden, which saw smaller outflows of $7.3 million and $4.3 million, respectively.

Other regions like Canada, Switzerland, Brazil, Hong Kong, and Australia attracted inflows totaling $13.2 million, $5.5 million, $2.8 million, $1.6 million, and $1.2 million, respectively. 

Regional flows
Regional flows

Will Dogecoin Rebound? TA Shows Buy Signal on 4-Hour Chart

Mark Brennan
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TD indicator points to an impending Dogecoin rebound, with the 4-hour RSI showing a bullish divergence and a possible price rally.

Analysis suggests a possible price rebound for the leading memecoin, Dogecoin (DOGE), which has been in a downturn in recent weeks. Per analytical expert Ali Martinez, the dog-themed memecoin has shown renewed bullish momentum on its 4-hour timeframe.

The seasoned analyst cited a bullish divergence on Dogecoin’s 4-hour relative strength index (RSI) as a factor that could drive a price rebound. The chart also showed bullish engulfing in the same timeframe, with the TD sequential indicator printing a buy signal.

According to Martinez, these key indicators could see Dogecoin revert its prevailing bearish momentum for a bullish pullback. Dogecoin trended downward for most of last month, falling over 16% in August. The downtrend has spilled into September, with DOGE shedding almost 2% in the past 24 hours.

Dogecoin Bounces from Support

Once again, Dogecoin bounced from the $0.09425 support on Monday. It previously rebounded from that region in early August during a wider market capitulation. The asset failed to thrive on an earlier report that the court threw out a lawsuit against Elon Musk on Friday.

Dogecoin’s RSI (12) stands at 40, while the 24-hour volume has spiked 82% to $522 million. However, sentiments remain bearish, as Binance’s order book shows more traders are betting on Dogecoin to see lower prices rather than to continue rebounding.

Notably, on-chain signals from IntoTheBlock show a mostly bullish outlook for Dogecoin, countering Binance’s higher sell-to-buy ratio. On-chain bid-to-ask volume imbalance turned bullish, with exchange signals showing a bullish disposition. Also, large transactions in the past 24 hours have increased by 1.88%.

Dogecoin traded at $0.0097 at the time of writing, with a market cap of $14.1 billion.

Solana Bearish Trend Deepens with 25.91% Decline Against XRP, Losses Looming?

Albert Brown
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0
Solana Bearish Trend Deepens with 25.91% Decline Against XRP, Losses Looming?

Earlier this year, Solana exhibited strong momentum against XRP, outperforming it significantly, but the latest market data shows SOL recently losing ground.

Over the past four months, Solana has experienced a notable decline of 25.91% compared to XRP. This shift suggests that while Solana once held a robust position, its recent performance has faltered, leading to a drop in its gains relative to XRP. 

A Shift in Momentum

The monthly candlestick patterns reveal a weakening in Solana’s bullish momentum against XRP. Green candles indicated months where SOL outpaced XRP, but the recent red candles highlight a downward trend. This decline is further emphasized by the Relative Strength Index (RSI), which currently hovers around the 60-70 range. 

The RSI shows signs of bearish divergence, where its trend does not align with the price movement. Should the RSI dip below 50, it could signal further weakening for SOL against XRP. Moreover, trading volume has varied, with no consistent trend, indicating fluctuating interest in SOL relative to XRP.

Support and Resistance Levels Under Pressure

In yet another bearish case for Solana, Alan Santana, a prominent analyst on TradingView, recently revised his forecast for Solana, now predicting a decline to $55. Santana’s analysis highlights key Fibonacci retracement levels, notably the 0.382 level at $137.03 and the 0.786 retracement level at $58.82.

Screenshot 2024 09 02T152212881
SOL 3day chart | Alan Santana

The latter aligns closely with Santana’s target, suggesting a substantial support zone, although it remains uncertain how Solana will navigate these levels.

On-Chain Activity Show Declining Interest

Further analysis shows that Solana’s on-chain volumes have seen a marked decrease, with decentralized exchange (DEX) volume dropping by 19% over the past week to $539 million. Compared to early March 2024, the DEX volume has plummeted from over $3.8 billion to a mere $539 million, reflecting an 87% decline. 

Additionally, the total on-chain volume has dropped to $6 billion, underscoring the network’s ongoing struggles. Despite potential support levels, Solana’s future remains uncertain, with critical levels ahead that may determine its trajectory in the coming months.

Ripple Launching New Token Standard on XRP Ledger

Abdulkarim Abdulwahab
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Ripple Launching New Token Standard on XRP Ledger

Ripple is set to launch a new token standard on the XRP Ledger this month, aiming to enhance its support for real-world assets (RWAs). 

Jasmine Cooper, Ripple’s Head of DeFi Product, recently discussed these advancements in a podcast, highlighting a new token type called “multi-purpose tokens” (MPTs). Cooper explained that MPTs are specifically designed for RWAs, enabling the storage of metadata directly with the asset. 

This integration enhances the scalability and flexibility of XRPL, making it more suitable for institutional use cases and lowering the barrier to entry for these organizations. Her comments have garnered significant attention from the XRP community.

Details of Multi-purpose Tokens (MPTs) Launching on XRPL

Notably, the introduction of MPTs is a key component of Ripple’s broader strategy to establish a comprehensive institutional DeFi ecosystem on XRPL. This ecosystem aims to facilitate a range of functions, including asset issuance, value transfer, exchange, and credit, all while prioritizing security and regulatory compliance.

In May, Ripple published a report titled “Building Blocks of Institutional DeFi on XRP Ledger,” which previewed the launch of the MPT standard in Q3 2024. According to the report, MPTs will bring a new level of functionality and flexibility to XRPL.

The report revealed that MPTs will enable the establishment of intricate token systems that can represent various assets and rights through the use of metadata. This innovation is expected to be particularly beneficial for institutions seeking to tokenize diverse asset portfolios, allowing for efficient lifecycle management of digital assets.

Ripple describes MPT as a hybrid token standard that combines the benefits of both fungible and non-fungible tokens. Currently, fungible tokens on XRPL lack key features, most notably metadata.

For instance, tokenizing a bond on XRPL using traditional fungible tokens would not allow for on-chain recording of essential bond details, such as face value, maturity date, coupon rate, and payment dates. 

This information gap creates inefficiencies and reduces transparency, making on-chain bonds less practical compared to traditional centralized infrastructure.

To address these limitations, Ripple will introduce MPTs as a native token standard on XRPL, providing capabilities that developers can easily leverage through simple APIs from XRPL libraries. This development will enable more efficient, transparent, and flexible tokenization of assets on the XRP Ledger.

Community Reactions and Future Developments

In a post on X, Vet, an XRPL validator, highlighted a fresh development concerning the Multi-Purpose Token (MPT) standard. He announced that the first code proposal for MPT on the XRP Ledger has been released.

Vet noted that MPTs merge the advantages of fungible and non-fungible tokens, making them well-suited for tokenizing real-world assets like Treasury Bills.

Vincent Van Code, a software engineer, responded enthusiastically to this update, calling it a “game changer.” He also raised concerns about the potential impact on storage requirements for the rippled network, suggesting that it might be more efficient to store metadata externally and link back to the XRPL. 

This approach could incentivize hosts to store data and offer different storage classes and fees, from high-speed to slower options.

Vet agreed that while storing metadata does increase the storage burden on the rippled network, it is a more efficient approach than creating a large number of non-fungible tokens. 

This ongoing discussion reflects the XRP community’s engagement and interest in the potential of MPTs on the XRP Ledger.

How High Could XRP Go? Expert Reveals XRP Price if Bitcoin Hits $500,000

Lele Jima
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0
How High Could XRP Go? Expert Reveals XRP Price if Bitcoin Hits $500,000

Famous crypto expert King 100x Gems predicts that XRP could attain a double-digit value if Bitcoin hits a target of $500 by the end of the bull cycle. 

XRP is gradually recovering from the recent downturn witnessed across the broader market. 

Current XRP Performance 

Data from CoinMarketCap shows that the seventh-biggest cryptocurrency by market cap has recorded a daily increase of 3.4%. 

However, the asset is still down 5.3% in the weekly charts and 8.47% over the past 30 days. Despite the devastating collapse of XRP, market watchers have remained confident that the Ripple-affiliated token will stage a major comeback that could take its price to a new all-time high (ATH). 

Some of these experts suggested that Bitcoin’s price action will determine XRP’s performance. Analysts with this notion believe that the price of XRP would surge tremendously if Bitcoin hits loftier targets.  

XRP to Hit $20 If Bitcoin Reaches $500,000 

In particular, pseudonymous market watcher King 100x Gems speculated that Bitcoin’s price could hit a whopping $500,000 by the end of the bull run. They projected that if Bitcoin achieves this feat, XRP could hit a price target of $20 within this timeframe. 

This is mainly because Bitcoin’s performance often influences the broader crypto market, including XRP. Consequently, the prices of crypto assets like XRP usually surge whenever Bitcoin performs well, and vice versa. 

Therefore, King 100x Gems expects XRP to hit $20 if Bitcoin’s price rallies to $500,000 by the end of this season’s bull market. At the time of writing, XRP is trading at $0.5658 per token. This suggests that XRP must surge 3,416% from its current price to reach the target price of $20. 

Other XRP to $20 Projections 

Besides King 100x Gems, several market watchers have set a similar target for XRP. For instance, Armando Pantoja, a member of the Bezinga crypto advisory council, speculated that XRP could hit the $20 target by 2026. Notably, Pantoja identified the $20 price territory as XRP’s actual value. 

He highlighted several factors that could take XRP to the $20 territory, including legal clarity and partnerships, institutional adoption, utility explosion, and historical precedent. 

“One Small Step for Cardano,” Hoskinson Announces Cardano Independence Day

Mark Brennan
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“One Small Step for Cardano,” Hoskinson Announces Cardano Independence Day

This article captured the key points and quotes in Charles Hoskinson’s declaration of Cardano’s independence.

Cardano founder Charles Hoskinson made an emotional statement on Sunday before the Chang upgrade. In an X video captioned “One small step for Cardano; one giant leap for the industry,” Hoskinson reflected on the network’s journey and declared the day the network’s independence day.

According to Hoskinson, Sunday’s notable milestone was when the Cardano community stood as equals, shaping the protocol’s future. In his words, “September 1st, 2024, a day where we declare independence day… every holder of ADA stands shoulder-to-shoulder as equals.”

The founder noted that he didn’t choose the cryptocurrency sector over every other field because of the industry’s ability to shape the world differently. He said, “This is the only industry that I saw that had a legitimate chance to have a front-row seat at changing the economic, political, and social systems of the world.”

Hoskinson’s flair for cryptocurrencies is evident in his numerous endeavors. He co-founded the Ethereum network alongside Vitalik Buterin before moving on to create the Cardano network in 2015.

Bold Statements on the Voltaire Era

Hoskinson stated that the newly debuted Voltaire era has the most extensive governance in the crypto industry and incorporates a participatory system of governance that empowers the community. “Voltaire is the single biggest experiment in governance in the history of our industry,” he said.

He further noted that Cardano’s new system addresses good governance, which has been humanity’s biggest problem. With Voltaire’s decentralization, Hoskinson stated that the blockchain would thrive globally, with little or no influence from the United States.

“The decentralization of Cardano and the de-Americanization of Cardano… reflects our commitment to global inclusivity,” Hoskinson said.

Part of the ploy to extinguish such centralization is the gathering held around six continents worldwide to elect delegates to help draft a constitution. He stated that “workshops are being held on six continents in 50 countries… to propose a draft constitution to be approved and ratified by an on-chain process.”

The Cardano founder noted that “the community now has the responsibility to govern and decide the future of Cardano, emphasizing collaboration and avoiding fragmentation.”

“Governance is not about getting what you want; governance is about explaining what you want, listening to others, and finding a third option,” he added.

Hoskinson stated that the Cardano ecosystem will play a unique role in ensuring that governance becomes what it should be. He noted that Cardano was a vision for all and had long-term principles that differentiated it from other chains.

“Cardano was infrastructure built by and for the world… it’s built for the human race as a whole.”

Hoskinson Talks Future Plans

Despite reduced contributions to the Cardano ecosystem, Hoskinson said that he would love to continue building on the network, keeping his eye on decentralized AI and social networks. The Crypto Basic earlier reported that the founder teased an AI-related partnership with the Alogorand network.

“I’d like to build on Cardano; it’s my life’s work… to create protocols and applications that can change people’s lives,” he said.

Hoskinson stated that the Cardano network has affected him, but he remains enthusiastic about the network’s future. He hinted that he has a proposal for Cardano 2.0, which he would present to the community for a vote.

In conclusion, he stated that the success Cardano has seen over the years is rooted in unity, oneness, and strong collaboration as a global community.

“The point of Voltaire is to be the first cryptocurrency where that doesn’t have to happen… where we have enough in common that we can find a way not to fragment and diverge,” Hoskinson said.

Bitcoin Faces a Potentially Different September Amid Positive Signs: Analysis

Albert Brown
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Bitcoin Faces a Potentially Different September Amid Positive Signs: Analysis

As September 2024 comes in, Bitcoin investors are closely monitoring whether the crypto will break its historical pattern of underperformance this month.

September has often been challenging for Bitcoin, with an average negative return of 4.78% and a 72.7% likelihood of closing in the red. Despite this, several factors indicate that Bitcoin’s price could experience a different trajectory this year.

According to a recent report by Spot On Chain, there are perks why September 2024 might not follow the usual trend.

For instance, a look at Bitcoin’s historical performance reveals that September’s negative reputation isn’t entirely consistent. While the month is known for its challenges, there have been instances where Bitcoin defied the trend.

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Specifically, in the past seven years, when August ended on a negative note, September continued the downward trend in only four of those years or 57.1% of the time. Conversely, in three of those years, September reversed course, delivering positive returns 42.9% of the time.

Selling Pressures May Have Subdued

Spot On Chain continues to mention that one of the primary factors potentially stabilizing Bitcoin’s price in September is the clearing of significant selling pressures observed in previous months.

Notably, the German government, which sold nearly 50,000 BTC between June and July 2024, has now largely exhausted its holdings, reducing this source of market strain. 

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Similarly, Mt. Gox has distributed most of its repayment in Bitcoin, with only a small portion remaining. Genesis Trading’s debt repayments, which caused market disturbances in August, have also largely concluded, leaving less room for similar disruptions in the upcoming month.

Together, these developments suggest that the intense selling pressures seen in recent months may not persist in September.

Long-Term Holders Exhibit Strong Retention

Another factor that could positively influence Bitcoin’s performance is the robust position of long-term holders. Data indicates that long-term holders have increased their supply by 262,000 BTC over the past month, reaching a total of 14.82 million BTC.

This strong accumulation reflects confidence among long-term holders, who have shown little interest in selling despite market fluctuations. 

Additionally, a significant portion of Bitcoin’s circulating supply remains dormant in top anonymous wallets, further indicating a reluctance to sell. This behavior among long-term holders could stabilize Bitcoin’s price in the coming weeks.

Renewed Optimism for Bitcoin ETFs?

Further, per Spot On Chain, in September 2024, Bitcoin ETFs might experience a modest positive net inflow, building on the observed pattern of alternating between positive and negative months. 

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After a slight negative flow in August, historical trends suggest a potential rebound, with estimates for net inflows ranging between $500 million and $1,500 million.

However, it’s important to note that this prediction remains speculative, as market conditions can shift rapidly, impacting the actual outcome.

Favorable Socioeconomic Events on the Horizon

September 2024 may also benefit from several upcoming socioeconomic events that could support Bitcoin’s price. Anticipated interest rate cuts by the Federal Reserve, expected to reduce rates by 25 basis points, could drive investors toward cryptocurrencies as traditional investments become less attractive. 

Additionally, FTX’s planned repayment of $16 billion in cash to creditors could result in a reinvestment surge into the crypto market.

Moreover, the evolving U.S. political landscape, with increasing bipartisan support for favorable crypto regulations, could further boost investor confidence.

According to Spot On Chain, these factors combined suggest a potentially more optimistic outlook for Bitcoin in September, diverging from its usual pattern of decline.

Will Cardano Hold $0.32 as CIP-1694 Fails to Spark Rally?

Albert Brown
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0
Will Cardano Hold $0.32 as CIP-1694 Fails to Spark Rally?

Approaching the bottleneck area of a triangle pattern, will Cardano give a breakout rally to hold $0.32 support?

Over the last ten days, the increased bearish influence over Cardano resulted in seven red candles, two Dojis, and a single bullish candle. The bear cycle accounts for a fall of 15.74% last week and ends the month of August with an 11% fall. Will the ongoing bearish trend in Cardano trigger a fall to under $0.30?

Cardano Downfall Forms a Triangle

In the 4-hour chart, the bear cycle forms a resistance trendline, highlighting multiple failed bullish reversals in Cardano. Further, the high momentum puts additional stress over the $0.32 support level, with a breakdown warning. 

Cardano Price Chart
Cardano Price Chart

The ADA price action reveals a long-coming support trendline in motion. In addition to the resistance trendline, it completes a triangle pattern, and the altcoin approaches the bottleneck part. 

As the bullish momentum fails to break above $0.40, the 50 and 200 EMAs in the 4-hour chart give a failed golden crossover. The reversal rally fuels the downtrend in the 50 and 200 EMAs following the Death Cross. 

Furthermore, the 4-hour RSI line lacks a divergence to support the bullish side. However, the oversold nature reflects a high possibility of a bullish reversal cycle. 

Will Bulls Comeback For a Truly Decentralized Network?

On Sunday, the Chang upgrade went live over the Cardano blockchain, making it a truly decentralized network. With the upgrade, the decision-making power has now shifted to the ADA holders. They can do so by selecting governance reps and voting proposals.

Cardano Improvement Proposal 1694 (CIP-1692) brings forth three user-led governance bodies: the Constitutional Committee, Stake Pool Operators, and Delegate Representatives.

Shifting power from the founding entities, including the Cardano Foundation, these groups no longer have the power to trigger chain upgrades or “hard forks.”   

With the new upgrade, Cardano is trending in the market, but the ADA price fails to reflect the sentiment improvement. 

Will Cardano Break Under $0.32?

As the bear cycle in Cardano gains momentum, the broader market correction issues a CRASH warning. Furthermore, as the CIP-1694 upgrade failed to boost the altcoin’s price, it may soon test the $0.32 level. 

The lack of bullish divergence and the growing bearish influence show increased breakdown chances. In such a case, the next support levels are at $0.295 and $0.276. 

In case of an unlikely breakout rally, the resistance levels are at $0.35 and $0.364, as potential profit booking levels. 

Bitcoin Supply Shock Delayed but Building: Market Awaits Next Move

Albert Brown
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0
Bitcoin Supply Shock Delayed but Building: Market Awaits Next Move

Recent analyses show some interesting data about the behavior of the Bitcoin market following its fourth halving. 

As the crypto market navigates this phase, pundits have provided detailed perspectives on the potential implications for price trends and volatility, drawing connections to historical patterns and current market conditions.

An anonymous account, Bit Paine, highlighted the ongoing effects of Bitcoin’s fourth halving, which occurred approximately 19 weeks ago. According to Bit Paine, the total number of blocks stands at 859,432, with 19,442 blocks mined since the halving.

 

This has resulted in a net decrease of 60,756 BTC in the market compared to a scenario without the halving, equivalent to around $3.5 billion in value. This reduction reflects a supply that will not re-enter circulation, a process expected to repeat every 19 weeks due to the halving.

However, the potential impact of such a supply reduction has been temporarily offset by the recent sale of approximately 50,000 BTC by German authorities, the U.S. government, and the Mt. Gox stash.

Bit Paine concluded that while the supply shock has been delayed, it is steadily building up.

Bitcoin’s “Chopsolidation”

Another analysis by the account Checkmate examines Bitcoin’s current market behavior, describing it as “chopsolidation.” This term refers to the volatile sideways movement within a specific price range.

Between February and July 2024, Bitcoin experienced relatively contained intraday price swings. The analyst observed that Bitcoin’s price swings are becoming larger and more sustained, indicating growing instability within the current range. Consequently, the market may soon move to a different price level.

Historical Patterns and Future Trends

Meanwhile, in a separate analysis, analyst Kyledoops presented a historical analysis of Bitcoin’s price cycles, discussing what he terms the “Blue Year” and “Red Year.”

According to Kyledoops, Bitcoin’s current price action resembles the calm before the storm, characteristic of a “Blue Year” that typically precedes significant price surges during a “Red Year.” 

Historical patterns from 2012, 2016, and 2020 show that these calm periods often set the stage for explosive growth, with 2024 potentially following this trend.

A Milestone in Bitcoin’s Bull Market Cycle

In related news, veteran trader Peter Brandt has previously pointed out that Bitcoin may be nearing an unusual milestone in its current bull market cycle. Brandt noted that this cycle might soon become the longest in Bitcoin’s history without achieving a new all-time high (ATH) following a halving. 

Reflecting on past cycles, Brandt observed that after Bitcoin’s first halving in 2012, it quickly surged to new heights within eight weeks. In the 2015-2017 cycle, however, Bitcoin took a 27% plunge after halving and took 24 weeks to break through previous highs. As Bitcoin continues its sideways trend, the market is left to wonder whether a new ATH is on the horizon or if it is slipping further away.

No XRP, Shiba Inu, Cardano as Neuner Shares List of Top 20 Coins for Long-Term Investment

Lele Jima
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0
No XRP, Shiba Inu, Cardano as Neuner Shares List of Top 20 Coins for Long-Term Investment

Crypto Banter founder Ran Neuner excludes Shiba Inu (SHIB), XRP (XRP), and Cardano (ADA) from his list of the top 20 cryptocurrencies suitable for long-term investment.  

Neuner’s Top 20 Coins 

The list features prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Fantom (FTM), and Near Protocol (NEAR). 

Other digital assets featured in the list are Arweave (AR), Immutable (IMX), Pepe (PEPE), THORChain (RUNE), Sui (SUI), Injective (INJ), Optimism (OP), Beam (BEAM), Crown by Third Time Games (CROWN), Aerodrome (AERO), SuperVerse (SUPER), Mantra (OM), Render (RNDR), Akash Network (AKT), and AIOZ Network (AIOZ). 

Neuner suggested that investors hold any of these tokens for 18 months without selling. This indicates that the Crypto Banter founder expects their values to skyrocket over the next year and a half.

Crypto Banter Founder Snubs Shiba Inu, XRP, and Cardano 

Despite adding prominent cryptos like BTC and ETH, Neuner omitted SHIB, XRP, and ADA. The Crypto Banter founder did not indicate the reason behind the exclusion or how he selected the assets featured in the list. 

Assets like SHIB, XRP, and ADA are usually included in lists of this sort. One of the reasons behind their sustained inclusion is their prominent presence in the market. Also, most market observers expect them to surge tremendously during a bull market. 

Neuner has been a silent critic of XRP and Cardano over the years, suggesting in May that while he buys promising assets, others look to XRP and ADA instead. Despite this, he was visibly happy about the favorable ruling around XRP in the SEC vs. Ripple lawsuit.

Meanwhile, other market pundits expect SHIB, XRP and ADA to surge for different reasons. For instance, experts believe that the final resolution of the SEC v. Ripple lawsuit in the Southern District of New York (SDNY) could potentially drive XRP’s adoption, leading to a surge in XRP’s price. 

Further, some market commentators expect SHIB and ADA to record remarkable performances in the bull run due to significant updates rolled out for these assets in recent times.

Notably, both Shiba Inu and Cardano have made significant efforts toward embracing decentralized governance structures. This governing system will allow token holders to be influential in shaping the future direction of these projects. 

While Shiba Inu recently introduced a test of its decentralized autonomous organization (DAO), Cardano implemented the long-awaited Chang hard fork on September 1. 

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