Top 3 Reasons For Solana Price Drop – Crypto Experts

Top 3 Reasons For Solana Price Drop – Crypto Experts

Why is the Solana price dropping? Well, several factors could be causing the price plunge, and the obvious one is the crashing crypto market. For the past few days, the crypto market has been crashing, with all the top cryptocurrencies pulling back.

The Solana price has dropped over the past 30 days, with the past 24 hours posting a 4.5% drop. That's how bad the coin has been doing. During the same period, its toughest competitor, Bitgert (BRISE), has been posting a solid, stable price. Here are some facts you need to know about the Bitgert and Solana prices' performance:

Bitgert

Before we look at the major reasons why the Solana price is dropping, it is important that we look at Bitgert because it has been doing better than Solana lately. Bitgert has been pretty stable, with the coin posting one of the best price performances during this bear market. There are several factors making Bitgert perform so well.

First is the massive adoption that the Bitgert BRC20 blockchain has been experiencing. The Bitgert blockchain that launched mid Q1 2022 has been the reason the Brise price was skyrocketing during the first quarter of the year. The ongoing mass adoption is a reason why Bitgert is doing well.

The fast-growing ecosystem is another reason Bitgert is doing so well. The Bitgert ecosystem is growing fast and has been one of the reasons investors are joining this coin. The huge numbers of projects and products coming into the Bitgert ecosystem are growing the adoption of this project. There are the reasons why Bitgert is doing well in the market.

Solana

For the Solana price, there are a number of reasons that could be causing the price to plunge. The plunging market, which is plunging Solana price, is a result of FED regulations. FED announced the intention to put in more financial measures to contain inflation. The effects have been a destabilized crypto price, including Solana. The effects might be short-lived or extended for a few days.

The second reason why the Solana price is dropping is the tough competition from better coins. In better coins, we mean coins that are outperforming Solana. Bitgert is one of the coins causing the Solana price to drop. The Bitgert chain has already surpassed Solana chain speed and has also provided the crypto industry with the lowest gas fee.

The third reason is the slow Solana ecosystem growth. The Solana products and project growth is slowing compared to the likes of Bitgert. This means Bitgert is now the most sought-after blockchain in the market. Having outperformed Solana means the demand for the Solana coin is reducing, resulting in a price drop.

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