Solana Price Down By 70% From The ATH And Why It’s Bad

Key Points:

• Solana is the hardest hit top 10 coins by the bear market
• FED inflation measures have made Solana bearish
• Tough Solana competitors, Bitgert, are increasing SOL selling pressure

Solana tops the list of the hardest hit coins in top cryptocurrencies. At the time of this writing, Solana had declined 51% in the past 30 days, making SOL the biggest loser in the top 10 coins. Bitcoin had just dropped 20% during the same period. Since Solana reached the ATH, it has declined 70% as of this writing.

That's how bad Solana's performance has been. But why is Solana plummeting this fast? Well, there are a number of factors, and the biggest one has been the FED inflation regulations. This year, FED has been adjusting the inflation rates, and this is causing a spiraling effect across the stock market and the crypto market.

Solana has been the most affected by the bear market created by the FED regulations. However, the fast plunging is due to the massive selling pressure that Solana token is experiencing. The solan selling pressure emanates from the investors lacking confidence in the recovery of the Solana coin. Solana has also been classified as a higher risky coin than other coins in the top 10 list.

Will Solana drop below $40? Well, crypto analysts predict that another bear run might push Solana to $18. Therefore, the bear market, especially if FED, will put more measures to curb inflation.

Solana's massive price decline has also resulted from the tough competition from the likes of Bitgert (BRISE). Many crypto projects are working to replace Solana, but Bitgert stands out with its power blockchain project. Here is more about Bitgert, mostly referred to as the Solana killer:

Bitgert is the closest any project has ever come to dethroning Solana. Bitgert is the first project to build a blockchain that is faster and cheaper than Solana. It is the Bitgert BRC20 blockchain that has toppled Solana as the fastest blockchain after pushing its TPS 100k.

Bitgert

Bitgert zero gas fee blockchain has a higher adoption rate than Solana. That's one of the reasons why Bitgert has been skyrocketing when Solana is plummeting. The Bitgert team is also developing the Bitgert ecosystem faster than Solana. In fact, the Bitgert ecosystem might soon have more products and projects on its chain than Solana in the coming months.

With such an exciting crypto project, Bitgert is attracting a lot of Solana investors. With the Bitgert roadmap V2 products coming up, Bitgert will continue to outperform Solana going forward.