The latest market cycle has been incredibly bullish for utility tokens. The latest regulatory news is boosting real-world applications for blockchains, utility tokens stand to benefit the most. Many of them have seen all-time highs as the crypto market cap reached a record $4 trillion.
Among these, Solana, Sui, and a new TON-based DeFi hub are among those with the strongest potential. Thanks to their scalable infrastructures, strong ecosystems, and many use cases, these tokens can’t be overlooked.
Solana Sees Bullish Momentum Thanks To Strong Ecosystem
Solana (SOL) has seen impressive performance this year, gaining 211% in that period. SOL also reached its all-time high of $263.83 in early December. All these are very bullish signs of its potential in the future.
Throughout 2024, Solana’s total value locked (TVL) and volumes steadily picked up. This led to Solana overtaking TRON in terms of TVL, now at $9.16 billion, and network volumes. The overall strength of the network has contributed to a bullish sentiment for SOL.
According to Glassnode, Solana has outperformed both Ethereum and Bitcoin in Q3 and most of Q4. This was thanks to significant capital inflows to the network, as its technology and adoption impressed investors. However, the token is currently stabilizing, with Ethereum taking the lead.
Looking at price performance, SOL outpaced both ETH and BTC for most of Q4 2024. However, since early December, ETH has taken the lead, outperforming the other two assets.
— glassnode (@glassnode) December 16, 2024
Today, the 30-day performance stands at:
ETH: +26.96%
BTC: +17.49%
SOL: +1.61%
A clear shift in momentum.… pic.twitter.com/rWdCb4goJ7
Whether or not Solana is due for a correction in the short term, should not discourage long-term holders. Thanks to its strong ecosystem and scalable infrastructure, Solana will likely remain in a strong position among crypto assets.
Sui Reaches ATH Thanks RWA Entry
The “Solana-killer” Sui has proven its status as one of the most promising projects out there. In December, Sui reached an all-time high of $4.93. The token registered a growth of 686.96% over the last year, from $0.6 to its current level of $4.8.
Developed by former Meta employees, SUI has the advantage of a robust infrastructure. Moreover, its blockchain is friendly both to users and developers. Recently, in particular, Sui has also seen a series of key partnerships. According to a report by Delphi Consulting, these partnerships open the road to new markets for Sui.
The report highlighted Sui’s integration of Ant Group’s ZAN tech. The integration enables compliant asset management, including KYC, and AML, for cross-chain asset transfers. What is more, Sui recently ventured into real-world assets (RWAs) with Ant Digital, focused on the Chinese solar sector.
The expansion of real use cases for Sui has the potential to bring billions to the Sui blockchain. The RWA market is expected to grow to an astounding $30 trillion by 2030. If Sui manages to take at least a small portion of that market, it will see explosive growth.
Elluminex Set To Overhaul TON
In addition to Solana and Sui, another major network with significant potential is TON. This project has the unique advantage of partnering with Telegram, a messaging app with a billion active users. Now, a TON-native DeFi hub Elluminex (ELX) is set to put TON into overdrive.
TON has been the fastest-growing blockchain in 2024, seeing rapid adoption thanks to its Telegram integration. The launch of Telegram mini-apps enables users to interact with Web3 apps seamlessly. However, TON has since seen a major setback, due to the arrest of Telegram’s CEO Pavel Durov.
Still, TON is expected to see a major rise, after the launch of the Elluminex DeFi hub. With support for over 40 blockchains, the platform will bring much-needed liquidity to TON. Moreover, its user-friendly features, including an AI-powered advisor, hope to bridge the divide between new investors and professionals.
Thanks to these features, Elluminex could do for TON what Raydium did for Solana. Notably, since Raydium’s launch, Solana rose from $1.50 to over $250 in 2021. What is more, this would make Elluminex an essential part of the TON ecosystem.
For more information about Elluminex (ELX) visit the links below:
- Website: https://elluminex.com
- Twitter/X: https://x.com/elluminex
- Telegram: https://t.me/Elluminex
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