Solana is down 9% for the past 30 days, which means most of the gains made in the previous bull run have been lost. The coin has so far plummeted in Q2 2022, making it among the biggest losers in the crypto market today.

But what could be causing this drop in the Solana price? Well, several factors have combined to make the Solana price plummet for the past one month. One of the reasons why Solana is plunging is, of course, the crashing market due to the FED monitory policies that are affecting the entire money market.

The FED is working on regulating the financial industry to tackle inflation, and the effects are also being felt across the crypto industry. Being one of the largest cryptocurrencies in the industry, Solana has been one of the most affected coins. This Federal Reserve influence in the market is likely to continue affecting coins prices, not just Solana.

The other reason why the Solana price has dropped in the past 30 days is the tough competition. There are a few crypto projects giving Solana tough competition, and one of them is Bitgert (BRISE). In fact, Bitgert is the first crypto project to build a blockchain that is faster than Solana. So Solana blockchain is not the fastest chain today, and that's why it is losing tractions hence the slow price. Here is more about Solana and Bitgert:

Bitgert

Bitgert launched the fastest blockchain, which is also the first gasless blockchain in the world. As the Bitgert team says, it has built the first zero gas fee blockchain, which is now the most sought-after blockchain. With 100k TPS and a $0.0000000000001 gas fee for every transaction, Bitgert has become a better blockchain than Solana.

Apart from the blockchain, the Bitgert ecosystem is growing fast and has been another reason it is outperforming Solana and many other coins. The fast delivery of the products and the high disruptiveness of the products are attracting a lot of investors. The Bitgert Startup Studio is adding 1000+ to the chain this year, which will significantly grow Bitgert ecosystems. These Bitgert developments might be the reason why the Solana price is dropping because more blockchain users today are choosing Bitgert.

Solana

Bitgert might be outperforming Solana, but SOL is one of the largest cryptocurrencies. Solana's ability to deliver one of the biggest ecosystems is coming into shape. The Solana DeFi is one of the fastest-growing ecosystems. The recent hackathons and the programs that the Solana team has been carrying out are also expected to grow the ecosystem larger.

But the Solana team is working on building a more powerful project that will be able to beat the likes of Bitgert competition. We expected that the Solana team is going to make its mainnet faster and probably surpass the current Bitgert speed, but beating the zero gas fee might be a big challenge. Therefore, more Solana developments are coming up.