How are the Solana, Hex and Ripple crypto assets doing?

By shedding light on the market prices of these three cryptocurrencies, we can analyze more generally the trend of the industry market, which seems to have stabilized and is recovering very well after the dismal period.

The prices of Solana, Hex and Ripple crypto assets

As mentioned earlier, the market seems to have recovered quite well. Obviously we do not find exponential growths in market prices, but decisive extra steps towards the bull market.

About the three crypto projects, in the last month none of the three has performed negatively as far as prices are concerned.

The Solana (SOL) token has remained very stable compared to last month, increasing its price by only 0.85%. Over the past 24 hours, Solana has lost -1.77% in price, but nothing of concern for such an important project.

Indeed, according to CoinMarketCap, Solana is at position 8 in the crypto popularity ranking. It presents a market capitalization of $8.1 billion, with a circulating supply of as much as 387 million SOL and a trading volume (in the last 24 hours) of $284.6 million. Solana’s price is around $20.8, ten times lower than its all-time high.

Proceeding in order, let’s take a look at the price of the HEX token, which is around $0.078 USD. The token in the last month has been performing positively, growing by about 15%, while only in the last week it has had a decline of 9 %. Overall, compared to the past thirty days, HEX’s performance remains positive.

Going into more detail, HEX has a market capitalization of $13.5 billion, with a trading volume (in the last 24 hours) of $7 million.

The circulating supply of HEX is very large, amounting to 173.4 billion HEX.

Finally there is Ripple and its XRP token, which among the three crypto projects, has been the best in terms of price performance. The Ripple community is very confident and it is evident in the performance of the token, which has had a 38.25% increase in the last 30 days.

XRP is currently priced at US$0.50, which is well off its all-time high of $3.8. In more detail, Ripple has a market capitalization of $26 billion, with a trading volume (in the last 24 hours) of $1.3 billion USD. Ripple’s circulating supply is as high as 51.6 billion XRP.

Solana’s plan to improve the blockchain

Solana, the high-performance blockchain network, has experienced a major slowdown in blockchain production since the last network update 1.14 on 25 February 2023. The disruption left users panicked about the difficulty of completing transactions on the network. In response, validators quickly downgraded the software to restore performance levels.

The incident highlighted the importance of network stability and the need for constant updates to keep up with growing demands. In response to the slowdown, Solana founder and CEO Anatoly Yakovenko issued a statement outlining the network’s plans to improve the latest network update and ensure ecosystem stability as it transitions to new versions.

The plan focuses on several key areas, including improving the network’s consensus algorithm, governance, and developer experience.

One of the major updates planned is the implementation of the Proof-of-History (PoH) consensus algorithm, which has been under development since 2018. PoH enables efficient ordering of transactions and helps prevent network congestion by reducing the time it takes to confirm transactions.

In addition, Solana’s team plans to improve network governance by creating a more decentralized decision-making process that involves more stakeholders in the process. This includes the creation of a new governance token that will give holders a voice in the direction of network development.

Finally, Solana aims to improve the developer experience by providing better documentation and tools, making it easier for developers to build and deploy decentralized applications on the network. This includes the launch of a new developer portal that will provide easy access to resources and support.

The response of the Solana team to the recent network slowdown demonstrates its commitment to ensuring the stability and efficiency of the network. The planned updates demonstrate that the team is actively working to resolve any issues that arise and is constantly striving to improve the ecosystem.

As blockchain technology continues to evolve and grow, it is critical that networks like Solana keep up with the increasing demands and maintain a high level of stability. The Solana team’s plans for network upgrades demonstrate their commitment to this, and users can expect an even better experience on the network in the future.

Ripple’s future is in the hands of the community: statements from attorney John Deaton

According to Deaton, the ongoing lawsuit between Ripple and the SEC is very sensitive and critical, especially for the blockchain company. The lawyer noted that Judge Torres is fully aware of the importance of the case and is taking great care to avoid any mistakes in his summary judgment.

Deaton also noted that the XRP community has put significant pressure on the judge, which is unprecedented in his entire career. Some members expressed dissatisfaction with the delay and asked the reasons for it. Although they expected the summary judgment to be issued by the end of March, they were disappointed when this did not happen.

 

The lawyer pointed out that the regulatory framework for digital currencies in the United States has been unclear to many, and he and many others believe that the judge’s ruling in this case will have a significant impact on the industry. He also pointed out that this is the largest non-fraud case since 1946, and Judge Torres is taking no chances in ensuring that his ruling is error-free.

Deaton believes Judge Torres is taking a smart step in delaying the ruling, as any decision against Ripple would push the company to take the case to a higher court. However, if the ruling is favorable to Ripple, the judge will have to defend his decision before the SEC.

Finally, Deaton urged the XRP community to be patient, as the judge’s decision-making process is complex and takes time. He suggested that it may take another two months before summary judgment is issued.