Solana and Cardano See Downtrend as Bitgert Coin Surges

The crypto summer is here as the market experiences its highest wave of activities in a while. On one end, there’s Solana with Cardano battling strong bearish pressure as their prices hit a downtrend. On the other end, Bitgert Coin has caught the attention of market analysts following its recent surge! 

Cardano

Cardano price has struggled against bearish pressure since the turn of the new year. A major reason behind Cardano’s descent is the FUD spreading across the Cardano ecosystem. 

Recent Cardano news shows an evident loss of trust from Cardano whale investors. Cardano whale transactions plunged from $23 Billion to $17.4 Billion in less than one week (between 15 March 2024 and 20 March 2024). Again, at the end of February 2024, there was a massive Cardano selloff as Cardano holders sold off nearly 220 Million Cardano tokens after witnessing the Cardano crypto hit a downturn. Their next move was to stake Cardano tokens in exchange for other cryptocurrencies.

More so, Cardano’s price has endured a massive correction cycle since mid-December 2023. This bearish pattern has pushed Cardano’s price down and down again. Particularly, in the last few weeks, Cardano has been exhibiting a double top trend, where the Cardano crypto recorded two successive peak values at a similar price range, indicating a bearish reversal momentum. 

Solana 

Solana’s price performance has left a lot to be desired in the past seven days especially as Solana (SOL) recorded a 6.93% decline. Also, the crypto might experience more descent in the upcoming days. One major reason experts have identified for Solana’s fall is the crashing of Solana’s tokens, JITO, WIF, and JUP. Solana news as of 22 March 2024 shows a 9.43%, 7.93%, and 8.51%, decline for these Solana cryptos respectively. The joint dip of the tokens led to Solana’s plunge, with the past 24 hours seeing an 8.45% drop.

In addition, Solana’s downturn gets further fueled by its airdrop distribution where Solana tokens get distributed amongst the investors based on their tasks performances. It’s been a disappointing run for investors with their expectations leaning heavily on these Solana tokens. Finally, at the end of February 2024, Solana again witnessed a token liquidation of roughly $10 Million with Solana investors selling off Solana tokens worth over $200 Million.

Bitgert Coin

As Solana and Cardano continue to experience rapid declines, Bitgert has recorded exponential growth lately. From keeping a persistent growth pace while the bearish trend was on across the market to the coin’s excellent growth momentum in the past month, experts believe the 66.90% rise might only be a tip of the greater price performance that awaits savvy investors that buy Bitgert early. The primary motivations that will positively inspire Bitgert’s price are its upcoming halving season, Binance Futures Next listing, and the launch of Bitgert on one of Europe’s prominent listing platforms.