On 24th May 2022, Avalanche posted yet another huge plunge after the coin posted a double digital decline. The Avalanche coin posted a 15% decline in just 24 hours, where the coin dropped to $27.21. Though Avalanche has made some recovery today, Avalanche AVAX is still in the red for the gains made in the past 24 hours.
Avalanche has been performing dismally during this bear market, where the Avalanche coin has declined 58.74% in the past 30 days at the time of writing. But there have also been other factors affecting Avalanche price, with the recent collapse of the $LUNA and $UST being the major challenges.
According to the Avalanche CEO, the company says it lost about $60 million from the $UST & $LUNA collapse. Luna Foundation Guard (LFG) is still holding 2 million AVAX, and this makes Avalanche AVAX the de facto reserve currency for the LUNA/UST.
The LFG relationship is taking a toll on the Avalanche coin and is one of the reasons why the Avalanche has been plummeting more than the rest of the crypto market. However, the Avalanche DeFi ecosystem remains one of the most attractive developments in the market.
On the other hand, Bitgert (BRISE) was among the crypto projects doing well in the market when Avalanche was plummeting. The Bitgert coin has been stable during the bearish market period. This is because of the impressive developments that have kept new investors buying Bitgert. Here are some interesting facts about Bitgert:
Bitgert is not just another crypto project but a trailblazer revolutionizing the blockchain industry with its innovative products. The recently launched Bitgert BRC20 blockchain is a game-changer, with its zero gas fee and the 100k TPS. Bitgert chain gas fee is $0.0000000000001, which qualifies to be a zero figure, hence the zero gas fee.
Bitgert has been bullish even during bear markets because of the massive adoption of BRC20 and the robust DeFi ecosystem the Bitgert team is building. Crypto experts say that Bitgert is going to explode immediately after the Bitgert roadmap V2 starts launching its products.
The Bitgert CEX, Bitgert Web3 Oracle, Paybrise and the Bitgert NFT marketplace are expected to get massive adoption, which will skyrocket Bitgert price. There is also massive growth that will be driven by the 1000+ new projects from the Bitgert Startup Studio. The Bitgert partnership with Centcex is also bringing more products to the chain.
In conclusion, Bitgert developments have the potential to explode the Bitgert coin 1000x, which is attracting crypto investors. That's why Bitgert price has been stable when Avalanche has been plummeting.
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