Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Solana Forum => Topic started by: GroundCrypto on December 17, 2021, 10:50:51 AM
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Altcoins like Algorand and Solana have recorded some of the highest losses following the market crash. This has been apparent in the performances of these digital assets in the past week. While the market at large had experienced dips, Algorand, Solana, and Hedera had led the pack for the worst performing coins for last week.
Altcoins Suffer Massive Losses
The crash which started with the top coin, Bitcoin, had inadvertently spilled over onto altcoins. Most had suffered greatly with the highest losses being recorded across digital assets such as Algorand and Solana. These cryptocurrencies had all recorded at least 20% price drops in the space of a week and even higher losses across monthly records.
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More info: (NewsBTC) https://coinmarketcap.com/headlines/news/algorand-solana-and-more-lead-list-of-biggest-losing-altcoins/
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Most of the SOL hodlers were expecting to see another ATH at the end of this year. But most of those became papper hand when btc took another correction. That's why we saw more dumping into SOL rather than other alts. TBH, SOL hype isn't over yet, we might see more trends into solana in the next year.
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It all depends on bitcoin, what the bitcoin rate will be in the coming weeks. I don’t think Solana will fall when compared to Algorand. In my opinion, Solana will look good in the third quarter of 2022 when Bitcoin shows a bullish sentiment.
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I still expect Solana to become the biggest competitor for Ethereum in the future after fixing all the bugs of the blockchain. GameFi on Solana is attracting huge capital inflows from new investors thanks to its low transaction fees and diversity of the ecosystem.
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So, it is still appropriate and reasonable if we can see that many media are giving statements about all this for the Solana coin market.
If we look at cryptocurrencies, we don't need to doubt everything because Bitcoin is the mother of all cryptocurrencies.
Solana can decrease in price with a record of a very large price drop, so it's definitely an effect of Bitcoin.
This is only my opinion , and not financial advice !
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Solana and Algorand are still in their usual position because I am sure that these two coins are really very good at developing the power that exists in cryptocurrency because this decline could be the beginning of an increase in the price of the Solana coin in the future.
We must be able to monitor the movement of the Solana coin to be the best because I am sure that in the future there will be many competitors that will appear to be able to compete to be the best, which includes beating the Solana coin.
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I'm not surprised with SOL because Solana has had a lot of DDOS problems lately. Hopefully the #DevelopmentTeam will soon update and ensure to provide a fast and secure blockchain for users. Solana's speed is required for deFi 2.0.
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Solana cannot be said to have lost its value because I believe that Solana is a coin for a long-term project.
For Solana coins, it can slowly rise again over time because I believe that Solana has a special coin development.
I see the Solana coin experiencing a decline because of things that can and that can be said because of the market effect which is also decreasing in price.
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It's just an estimate in the near future because I'm sure that for a long time Solana will be a good coin, as can be seen from the various visions and missions that have been released on the Road Map.
If Solana is currently experiencing heavy losses for now then it is certain that later Solana coins will produce good value, I believe in the serious development of Solana coins in the cryptocurrency space.
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If the market cap of a coin is large and expensive, the decrease in the coin with a small price difference will also feel very expensive and of course it will also affect the Solana coin.
Solana has become the best choice for all investors with various features and of course also for changes in the price of Solana coins, it is still reasonable because all altcoins also change up and down.
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I'm new to the Bitay stock market, but I'm already enjoying it. It's excellent to have government backing, and the stock market is highly stable. I was taken aback by the fact that Solana currency had such a high volume in Bitay, but now I have complete faith in it. appreciate you very much, Bitay
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I still expect Solana to become the biggest competitor for Ethereum in the future after fixing all the bugs of the blockchain. GameFi on Solana is attracting huge capital inflows from new investors thanks to its low transaction fees and diversity of the ecosystem.
That's right, the Neodymium team has found a bug that is still present in the Solana Program Library protocol.
As far as I know, traffic jams occurred during IDO Solchick, this is a game project that partnered with many platforms of Launchpad, then at the same time, investors withdrew the tokens they bought from that platform, but the Solana network suddenly went down and here I am starting to think that a blockchain with an SPL protocol doesn't seem to be able to outperform a system from the POW protocol that has never experienced anything like that