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3 key data points highlight the 60-day strength shown by altcoins. A wave of green has washed across the entire crypto market , and it won’t be long before traders on X (the social platform formerly known as Twitter) begin to explain that a new altcoins season has arrived.  Altcoin season, or ‘altseason’ as the crypto bros say, typically measures the rallying of altcoins and a positive market capitalization increase of the total altcoin market cap. Let’s take a look at some key indicators that market participants use to determine whether or not an altcoin season has emerged. Total crypto market capitalization hits a 14-month high The total crypto market cap recently hit a 14-month high, clearly reflecting the current bullish momentum. Crypto total market cap broke out to its highest levels in over 14 months. pic.twitter.com/0c6CPxDSfQ — TradingView (@tradingview) November 6, 2023 Similar strength is seen in the total altcoin market capitalization chart (TOTAL2). The met...

The exploited Multichain bridge briefly opened on Nov. 1, and a trader managed to use this opportunity to buy debugged assets at a discount, allowing them to make more than $1.5 million in profits. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A trader managed to exploit the brief opening of the Multichain cross-chain bridge, which was frozen since its exploit in July 2023, allowing the trader to turn $280,000 worth of Fantom’s (FTM) tokens into $1.9 million worth of different assets. In other news, Solana’s (SOL) token has surged 80% in a month , and Avalanche is set to shut down its Etherscan-powered block chain explorer tool amid a fee controversy. A new bridged token from LayerZero has drawn criticism from nine protocols throughout the Ethereum ecosystem, claiming that it limits the freedom of token issuers. The top 100 DeFi tokens continue...

NFT marketplace Magic Eden believes that lowering the costs in NFT production creates an "easy access point" for new users to try NFTs. Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning digital collectibles. Today we’re releasing support for cNFTs (find them in our popular collections) cNFTs are a new wave of NFT creation only possible on Solana. The "c" stands for compressed (not Cardano don't worry) which allows them to be produced at a fraction of the cost of traditional… pic.twitter.com/WbO4qqWLEt — Magic Eden (@MagicEden) September 14, 2023 cNFTs are different from the usual Solana NFTs because their data are compressed and are stored off-chain. Because of this, production in larger quantities is more feasible as they require lesser fees to mint.  According to Magic Eden, this type of NFT is ideal for the creation of...

Solana Price To Reach $27 Caleb Franzen, the Founder of Cubic Analytics, has shared his thoughts on Solana ($SOL) through a tweet . In his Analysis , Franzen suggests that Solana is gearing up for another attempt at upward movement in its price. advertisement According to Franzen, there are three key steps that Solana needs to follow to achieve this potential price increase. Step 1 involves breaking the trend line, which typically signifies a shift in market sentiment. Once the trend line is broken, Step 2 suggests that SOL should utilize this newly established trend line as a support level.  Finally, in Step 3, Franzen sets a target price of approximately $27 for Solana. As of now, $SOL is priced at $21.79, marking a 4.49% increase. The market capitalization stands at $8,750,222,715. Considering the target set by Franzen, approximately a 23.88% increase is needed for Solana’s price to reach $27 from the current price. Recommended A...