3 Reasons Why Solana Price Has Dropped Significantly

Bitgert reached a new ATH in early March 2022 when Solana was plummeting.

Key Points:

The Solana price has been falling not just for the past 30 days but also for the last 6 months. The last Solana ATH ($258.93) was set in the first week of Nov 2021, and for a half-year now, Solana's price has dropped to $81.31 at the time of this writing. This means Solana has lost almost 68% of its value since the last ATH was set. That's just how big the Solana price has dropped.

According to crypto analysts, there are 3 reasons that have caused the Solana price to crash. The first reason is the crashing crypto market for the last six months. Solana has been among the large cryptocurrencies that have succumbed to the crashing market.

The second reason why the Solana price is dropping is the FED influences in the money market, which has caused shockwaves in the entire monetary ecosystem. The third reason why the Solana price is plummeting is the tough competition from new and more promising crypto projects. Among the biggest Solana competitors is Bitgert (BRISE).

Bitgert is doing very well in the industry right now, with data showing the Bitgert coin has been skyrocketing when the likes of Solana were plunging. That's why Bitgert reached a new ATH in early March 2022 when Solana was plummeting.

Bitgert became the toughest Solana competitor after the Bitgert team built and launched the fastest blockchain in the industry. In fact, Bitgert is the first blockchain to surpass Solana speed. The 100k TPS that Bitgert BRC20 blockchain is 25k TPS faster than Solana.

In addition to speed, Bitgert BRC20 is the only blockchain charging a zero gas fee for every transaction. The gas cost at Bitgert chain is $0.0000000000001, which makes it the cheapest gas. But Bitgert is also outperforming Solana in building its ecosystem.

Bitgert ecosystem growth is fast than Solana. The Bitgert team has built many products for the ecosystem, including the Bitgert BRC20 blockchain. The Bitgert roadmap V2, which launched a few days ago, has multiple Web3, NFTs, and DeFi products coming up soon. There are also 1000+ Startup Studio projects to be added to the Bitgert chain. These are the major reasons why Bitgert is causing Solana to drop.

In conclusion, competition from highly performing crypto projects is one of the major reasons why the Solana price has dropped. The Solana team will need to do more to beat the Bitgert competition.

Disclaimer: The information provided in this article is solely the author's opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.