Bearish Solana, Cardano, Matic, Avalanche, Litecoin, While Bitgert & Centcex stays stable
by Analytics Insight
January 22, 2022
This article features the latest updates on the performance of cryptocurrencies like Solana and Cardano
The crypto market has been very bearish by the end of the third week of 2022. After months of bullish growth, Bitcoin dropped back to a price last seen in July 2021. This is one of the biggest drops in a while. The crypto market, in general, has been hard hit by this price plunge. But some cryptocurrencies managed to withstand the pressure and remained stable while the market was crashing. Read more below:
In the list of the cryptocurrencies that have been stable in this bearish market is Bitgert. Bitgert has just recorded a 1% drop in the past 24 hours at the time of this writing. This is a huge resistance considering that the largest cryptocurrencies like Bitcoin and Ethereum have recorded over a 10% drop in the same period.
Bitgert is an attractive project because of the kind of DeFi ecosystem the Bitgert team is building. This is the only blockchain project that is launching a zero gas fee blockchain in 2022. The upcoming Bitgert crypto exchange will be a CEX. There are many more exciting features about this project, and you can find more info on the Bitgert website.
Another cryptocurrency that has managed to withstand the crashing crypto market is Centcex. Centcex is also one of the crypto coins that mooned in the previous price plunge. There are many reasons that could have played a part in the stability that Centcex has shown during this bearish market.
The project is still young, with just 2 months in the market. During these two months, the Centcex team has achieved a lot, including an impressive performance in developing the widely anticipated cryptocurrency exchange. The attracting Centcex staking rewards and impressive 2022 roadmap are some of the reasons why more investors are buying CENX tokens this time. Read about this crypto project on the Centcex website.
Solana had a 12% drop at the type of this writing. This is a huge loss of value for the token that has been posting impressive gains since the previous crash. However, this has nothing to do with the Solana product but the market forces, including the Federal Reserve regulations that have crumbled the crypto market.
The Solana team is still going on with the ‘Hacker House World Tour’, which is expected to bring more developers to the Solana network. This, plus more scaling solutions that are expected to hit the market soon, Solana is expected to make a great comeback from the drop.
Cardano had dropped by over 7% at the time of writing after making some gains on the morning of the 22ndof January. This is an indication that Cardano is likely to make a faster comeback than most of the coins that have crashed. There are several things that might make Cardano perform better, and one of them is the upgrade of the scaling program.
The team is about to launch the Cardano Hydra program, a layer-2 scaling solution that is expected to do very well in the market. With this Cardanoupgrade, the network will have a capacity of over 1 million transactions. Therefore, buying Cardano tokens now during the dip is the best decision crypto investors can make.
At the time of this writing, Avalanche was coming out of the dip but had still dropped a whopping 17%. This is a huge loss for the Avalanche tokens holder, but the potential of this cryptocurrency is still huge. There are a number of factors that will make Avalanche make a fast comeback from the crash.
This is still the fastest scaling contract in the market today. The Avalanche team is also working on this smart contract to make it even faster. The fact that Avalanche is compatible with the Ethereum smart contract makes it a perfect candidate for the explosion in 2022.
At the time of this writing, Matic made some recovery from the dip but still had a 14% drop for the last 24 hours. Matic is one of the cryptocurrencies that have been doing very well and will definitely make a bigger comeback from the crash. Note that Matic is the token for the Polygon network, a layer-2 scaling contract for the Ethereum network.
Polygon is one of the best smart contracts solving speed and high gas fees on the Ethereum network. That’s why Matic will definitely recover from the current plunge faster. Therefore keep holding Matic as the bull run is beckoning soon.
Litecoin was 10% down and recovering for the past 24 hours at the time of this writing. The cryptocurrency is recovering fast and might soon be in the green. There are a number of factors that will drive Litecoin fast recovery, and one of them is the growing adoption of the coin by businesses.
Many e-stores and brick-and-mortar stores have continued to accept LTC as currency for payment. There are also many products coming to the Litecoin network that will increase the token utility. They include Litecoin Gaming, NFT projects, and so on. Therefore, Litecoin is one of the projects that will be making a strong comeback.
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