Recently, one of the most significant pieces of crypto news was that Alameda owns over 67% of the $1B Solana (SOL) tokens that FTX holds, and they are locked until 2025. This development has implications for SOL but also raises questions about the future of other cryptocurrencies like Chainlink (LINK) and the emerging Kangamoon (KANG). Keep reading to discover what’s in store for these projects.
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The Solana (SOL) Lockup: What Does It Mean?
Solana (SOL) has gained attention for all the right reasons, and its attractiveness as a token to own is not without merit. The recent revelation that FTX holds a staggering $1.162B worth of SOL tokens further underscores its significance.
What makes this revelation particularly intriguing is that a substantial portion of these tokens, over 67% to be precise, totaling 42.16M Solana coins, is owned by Alameda and has been securely locked until 2025.
This lockup mitigates the risk of sudden and massive token dumping into the market. Such a move bolsters Solana’s stability and improves the crypto market sentiment as a whole. Regarding price predictions, experts forecast that the Solana price will reach $29.22 by the end of 2023.
Chainlink (LINK): On a Path to Recovery
While the focus has been on Solana, Chainlink (LINK) continues to be a significant player in the blockchain space. It has been on a journey to reclaim its position in the crypto market after a price decline that began in late July.
Despite this setback, Chainlink has not wavered in its commitment to development and innovation. A significant contributing factor to the Chainlink crypto resurgence has been the steady increase in development activity on its network. Over the past three years, the Chainlink ecosystem has demonstrated dedication to improving and expanding its capabilities.
This ongoing commitment to development has caused market analysts to foresee the Chainlink price reaching $9.12 by December 2023.
Kangamoon (KANG): A Rising Star
Amid significant developments in the cryptocurrency world, it’s essential to recognize emerging projects like Kangamoon (KANG). Kangamoon will represent the fusion of blockchain technology and play-to-earn gaming, offering an innovative experience for gamers.
In Kangamoon’s gaming universe, players will earn virtual currency and rare in-game items through various means, such as winning matches or completing challenging quests. These virtual assets can be traded or sold within the game’s marketplace, creating real-world value for players.
Not only that, Kangamoon will connect you with various players around the globe as you take on the role of a boxing kangaroo. As a result, you can participate in thrilling battles and tournaments where you can earn in-game rewards.
At the heart of the Kangamoon ecosystem lies its native token, KANG. It is worth just $0.005 as it is in Stage 1 of its presale. However, unlike Solana and Chainlink, it has a low market cap. To clarify, it will soar much faster as fewer new funds are needed. In fact, experts foresee a 35x growth after major exchange listings.
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