[PRESS RELEASE – Las Vegas, United States, October 29th, 2024]

Solana storage scaling solution Xandeum has confirmed details of its forthcoming token launch and storage-enabled liquid staking program. On October 29, 16:00 UTC, the XAND token will officially launch, offering the Xandeum community a way to participate in the network and earn rewards.

The XAND token and LST launch will be accompanied by the first Xandeum airdrop that will see 60M tokens issued to eligible users on October 29. A number of centralized and decentralized exchanges have committed to supporting the XAND token launch including Raydium and MEXC.

The Xandeum DAO is the vehicle that powers both the Xandeum scalable storage layer that is currently being built, as well as the storage-enabled liquid staking solution launching October 29. The DAO captures both of these, which is a unique feature among such platforms. The XAND token offers complete governance over that DAO, which makes XAND one of the most utility-rich tokens on Solana.

XAND rewards for early stakers of SOL into the storage-enabled liquid staking platform at https://stake.xandeum.network will get 10x boosted XAND rewards which will result in ludicrous amounts of XAND rewards during the hyperdrive stage, defined as the stage when the pool has less than 30,000 SOL staked. The LST also carries another major innovation: It is the first multi-validator LST on Solana that programmatically shares block rewards.

Xandeum’s forthcoming storage solution will allow Solana programs to scale through enabling dapps to access exabytes of data. This will support new use cases, like porting data-rich web2 apps to fully decentralized web3 versions. Xandeum solves the blockchain storage trilemma, being scalable, random access, and smart contract native at the same time. In order to demonstrate these capabilities, a dapp named Xandipedia is being worked on – a fully decentralized version of Wikipedia.

Xandeum’s smart contract native scalable storage layer has been designed to integrate directly into Solana RPC nodes. Data storage is offloaded to a network of decentralized pNodes (storage provider nodes) overseen by Xandeum-aware Solana validator nodes. This will enable Solana dapps to access virtually unlimited storage that can be queried rapidly while maintaining a high degree of decentralization.

About Xandeum

Xandeum is a storage scaling solution for Solana and the world’s first storage-enabled liquid staking platform. Powered by the XAND token, Xandeum is on track to launch its storage provider network in early 2025, delivering a breakthrough in decentralized Solana storage that will power a new wave of dapps.

Learn more:

https://www.xandeum.network

TL;DR

• Despite recent declines, one analyst predict a possible XRP breakout to $7.50 by the end of 2024.
• Increasing XRP transactions, new account activations, and payment volumes suggest heightened demand and user engagement, potentially adding upward price pressure.

XRP Breakout Coming Soon?

The cryptocurrency market has been booming in the past few days, with Bitcoin (BTC) briefly soaring above $71,000 and Dogecoin (DOGE) skyrocketing to a five-month high of almost $0.17.

However, some assets, like Ripple’s XRP, have not caught the green wave. It currently trades at around $0.52, representing a weekly decline of 4%.

Its poor performance could be linked to the fresh doze of uncertainty triggered by the prolonged lawsuit between Ripple and the US Securities and Exchange Commission (SEC). Recall that the agency officially appealed a 2023 verdict set by Judge Torres (which ruled that the company’s XRP sales to retail investors on crypto exchanges did not violate securities laws).

Despite this, numerous analysts predict that the asset’s valuation could explode soon. One example is the X user EGRAG CRYPTO, who envisioned a breakout to as high as $7.50 before the end of 2024. The crypto enthusiast added that such a rally would only be possible if XRP surpasses the resistance level of $0.5930 in the next two days.

Dark Defender also gave their two cents. The analyst claimed that the XRP bull run usually starts when Bitcoin’s (BTC) dominance is in decline.

When #bitcoin dominance is in decline:$XRP Bull Run Starts.

It was the case in 2017 & 2021.

The story repeats itself:

XRP Run In a Nutshell. pic.twitter.com/xMQAJEgohX

— Dark Defender (@DefendDark) October 28, 2024

It is worth noting that BTC’s dominance has been on the rise lately, reaching almost 60%.

XRP Metrics on the Rise

The resurgence of numerous XRP-related indicators suggests that the asset’s price may indeed be poised for an uptick. Data shows that the number of executed transactions, the number of newly activated accounts, and the XRP payment volume (from one account to another) headed north on October 28.

The metric’s increase generally indicates heightened demand and user engagement, which can lead to upward pressure on the token’s price. It can also be seen as a sign of confidence, driving more investors into the ecosystem and, hence, a flow of fresh capital.

The cryptocurrency market has increased substantially in the past 24 hours, with its total capitalization reaching $2.5 trillion. This comes on the back of gains across the board. Most notably, BTC’s price soared above $71,000 as the bulls are now eyeing a new all-time high.

Bitcoin Bulls Eye All-Time High

Bitcoin’s price took off throughout the past 24 hours. What is interesting is that during the past day, 12 hourly candles in a row closed in the green, accelerating the cryptocurrency and pushing it a lot closer to its former all-time high.

At the time of this writing, BTC is trading above $71,000, a point last seen in June this year. The buyers seem eager to achieve a new high.

This move comes just a few days before the upcoming US Presidential elections, which are scheduled for next week, November 5th.

Although both candidates have shown some support for the industry throughout their campaigns, Donald Trump’s has been much more pronounced. He even went so far as to say that he might remove taxes and impose tariffs on tokens developed within the US. In any case, the outcome of the elections is surely to impact the market.

Dogecoin Leads Altcoin Rally

The vast majority of altcoins are well in the green today. Large-cap cryptocurrencies such as ETH, BNB, SOL, XRP, LINK, APT, TAO, ICP, and others are charting gains between 1% and 5%.

The best performer, however, is Dogecoin—the godfather of meme coins. DOGE exploded by about 15% at one point, a standout performance not only among altcoins but also among the entire market.

In all fairness, other meme coins are also performing quite well. PEPE is up by more than 6%, while the cat-themed market leader called POPCAT is also up by more than 12% over the past day.