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Renowned crypto analyst Ben Armstrong has made bold predictions for XRP and Solana (SOL) in the upcoming bull market, foreseeing substantial gains. In a recent YouTube video, Armstrong projected an astonishing 1,135% growth for XRP, envisioning it reaching $7. Additionally, he set a target of $1,000 for Solana, implying a remarkable 952% growth rate. Armstrong &hellip; 
<a href="https://www.cryptoknowmics.com/news/cryptocurrency-analyst-predicts-stellar-growth-for-xrp-and-solana-in-2024/" class="more-link">Continue reading &#8220;Cryptocurrency Analyst Predicts Stellar Growth for XRP and Solana in 2024&#8221;</a>

Renowned crypto analyst Ben Armstrong has made bold predictions for XRP and Solana (SOL) in the upcoming bull market, foreseeing substantial gains. In a recent <a href="https://youtu.be/vcJzKFTcFCs?si=VlUYSAmARIa0HDWV" target="_blank" rel="nofollow noopener">YouTube video,</a> Armstrong projected an astonishing 1,135% growth for XRP, envisioning it reaching $7. Additionally, he set a target of $1,000 for Solana, implying a remarkable 952% growth rate. Armstrong expressed confidence in these projections, suggesting they might not even represent the peak for these digital assets.<h2>Analyzing the Multiplier Factors</h2>Armstrong shed light on the multiplier factors influencing his bullish predictions. The path to $7 for <a href="https://www.cryptoknowmics.com/news/xrp-whales-make-waves-with-50-million-token-transfer/" target="_blank" rel="noopener">XRP</a> implies an 11 to 12-fold increase, while Solana's journey from $101 to $1,000 requires a similar tenfold increase. Despite Solana experiencing a significant surge in the current bull run, Armstrong believes XRP's steady rise will align with Ripple's anticipated initial public offering (IPO). He anticipates heightened excitement and potential fireworks for XRP surrounding the IPO.<h2>XRP's Unique Positioning</h2>Armstrong highlighted a key contrast between XRP and Solana in the current market dynamics. While Solana has undergone a substantial surge, XRP has not experienced a comparable gain for holders. Armstrong speculated that XRP's potential to reach $7 is programmed to coincide with Ripple's IPO launch. Moreover, he argued that the successful launch of an Ethereum ETF would further bolster XRP's bullish case.<h2>Regulatory Clarity and Bullish Catalysts</h2>Armstrong theorized that the introduction of a live spot Ethereum ETF would prompt market participants to seek the next promising cryptocurrency for a spot ETF. Given XRP's unique position with U.S. regulatory clarity, it emerges as the likely candidate. Armstrong expressed confidence that, with these factors in play, XRP could achieve the projected price of $7 by the end of the upcoming bull market.

Cryptocurrency Analyst Predicts Stellar Growth for XRP and Solana in 2024

Nonfungible token (NFT) commercial center Enchantment Eden has reported that it will uphold Solana&#8217;s compacted NFTs (cNFTs) to give an expense proficient and versatile option in contrast to claiming computerized collectibles. Because their data are compressed and stored off-chain, cNFTs differ from standard Solana NFTs. Along these lines, creation in bigger amounts is more plausible &hellip; 
<a href="https://www.cryptoknowmics.com/news/magic-eden-adopts-solanas-compressed-nfts-for-marketplace/" class="more-link">Continue reading &#8220;Magic Eden Adopts Solana&#8217;s Compressed NFTs for Marketplace&#8221;</a>

<a href="https://www.cryptoknowmics.com/news/non-fungible-token-research-instrument-nft-inspect-is-shutting-down/" target="_blank" rel="noopener">Nonfungible token</a> (NFT) commercial center Enchantment Eden has reported that it will uphold Solana's compacted NFTs (cNFTs) to give an expense proficient and versatile option in contrast to claiming computerized collectibles. Because their data are compressed and stored off-chain, cNFTs differ from standard Solana NFTs. Along these lines, creation in bigger amounts is more plausible as they require lesser expenses to mint.<h2>NFT commercial center offers lower costs for making high-value assortments</h2>[embed]https://twitter.com/MagicEden/status/1702430156642492472[/embed]As per Magic Eden, this kind of NFT is great for the making of efficiently manufactured assortments in different ventures like gaming, music, occasions and the metaverse. The NFT commercial center accepts that it permits makers to contact more extensive crowds without spending more. The NFT commercial center additionally accepts that by bringing down the expenses engaged with NFT creation, it might possibly advance reception and become an "simple passage" for new individuals to evaluate gathering NFTs. Users can collect NFTs at lower costs without placing a significant financial stake in the process. It brings down the gamble of losing cash over NFTs.<h2>Solana's cNFTs can be produced for under $110 per NFT</h2>Solana's state <a href="https://solana.com/news/state-compression-compressed-nfts-solana" target="_blank" rel="nofollow noopener">compression</a> powers cNFTs, which can be produced for as little as $110 and yield up to one million NFTs. Contrasted with printing NFTs on Ethereum which could cost somewhere in the range of $2.9 to more than $30 to mint per NFT, the expense of stamping is radically brought down with cNFTs. Off-chain hosting of NFTs may have advantages, but it can also come with disadvantages. In 2022, NFTs that were printed on the crypto trade FTX separated and showed clear pictures as the trade failed. A specialist brought up that the NFTs were facilitated utilizing a Web2 Programming interface, rather than the blockchain and cautioned that there's an illustration to be learned in facilitating NFTs utilizing Web2 innovation.

Magic Eden Adopts Solana's Compressed NFTs for Marketplace

Rune Christensen expressed that Solana&#8217;s codebase ought to be the groundwork of MakerDAO&#8217;s impending blockchain, as he featured that it&#8217;s upgraded for building &#8220;profoundly proficient blockchains.&#8221; MakerDAO prime supporter Rune Christensen has presented a proposition to construct the decentralized money undertaking&#8217;s impending local chain off of a fork of Solana&#8217;s codebase, and not the Ethereum &hellip; 
<a href="https://www.cryptoknowmics.com/news/makerdao-co-founder-proposes-solana-codebase-fork/" class="more-link">Continue reading &#8220;MakerDAO Co-founder Proposes Solana Codebase Fork&#8221;</a>

Rune Christensen expressed that Solana's codebase ought to be the groundwork of MakerDAO's impending blockchain, as he featured that it's upgraded for building "profoundly proficient blockchains." <a href="https://www.cryptoknowmics.com/news/makerdao-approves-100m-usdc-on-defi-protocol-yearn-finance/">MakerDAO</a> prime supporter Rune Christensen has presented a proposition to construct the decentralized money undertaking's impending local chain off of a fork of Solana's codebase, and not the Ethereum Virtual Machine regardless of its long-running ties with Ethereum.The native chain of MakerDAO, which is currently referred to as "NewChain," is a component of the fifth and final phase of the MakerDAO "Endgame" upgrade, which was announced in May. This phase, which is expected to take approximately three years to complete, will see the complete re-implementation of the Maker Protocol into a brand-new, independent blockchain.[embed]https://twitter.com/RuneKek/status/1697623700013822244[/embed]<h2>Solana's MakerDAO platform most encouraging' choice for NewChain - Christensen</h2>In the proposition on the MakerDAO discussion, Christensen depicted Solana's codebase as the "most encouraging" choice to investigate, as he offered three key justifications for why he figures it ought to be utilized as the establishment for NewChain. He, right off the bat, featured the "specialized quality" of the Solana codebase, and contended that it is "profoundly improved to work a particular, exceptionally effective blockchain."[embed]https://twitter.com/solana/status/1697689981282816341[/embed]Furthermore, Christensen contended that the Solana environment has "demonstrated its flexibility by having gone through the FTX blowup" and a few different difficulties without disintegrating. Thus, the MakerDAO prime supporter recommended that the Solana environment is probably going to keep close by long haul, keep a "great pool of ability accessible for Producer to get to and add to" while likewise giving a savvy road to construct and keep up with NewChain with.At long last, Christensen noticed that as of now exists instances of the Solana codebase being forked and adjusted to go about as appchains," MakerDAO could follow a comparative cycle to foster NewChain. Christensen noticed that while the EVM is the "most significant with regards to building stuff for clients, since that is where the clients are," it sometimes falls short for MakerDAO's particular prerequisites on the backend.