Yesterday, Solana (SOL) posted one of the lowest prices since July 2021. The Solana crashed down to $20.37, according to CMC data. This is the lowest price SOL has posted this year and was last seen in early march 2021. The crash also pushed Solana out of the top 10 largest coins, a position it has enjoyed for a long time.
During the same time, Cardano (ADA), Bitgert (BRISE), and Centcex (CENX) have also declined but not fast a rate as Solana. As of writing, the Cardano price had declined by 3.3% in the past 24 hours, while SOL was down 25%. The dumping of the $SOL is associated with the happening around the FTX Token (FFT).
The news that Sam Bankman-Fried, the founder of FTX and Alameda Research, could make Alameda dump some SOL to rescue the FTX token from collapsing has triggered selling pressure on the Solana coin.
With $FFT still doing badly in the market, we are likely to see the selling pressure on the Solana coin grow bigger. Therefore, Solana might remain unstable until crypto investors are guaranteed that Alameda's SOL holdings will not destabilize the token.
However, the whole market is on a spin, and most coins have already posted a decline. The Cardano (ADA) is in the red, the same for the many top coins in the market.
The crypto market may not be crashing but is shedding most of the value gained during the recent surge. In fact, most of the coins, including most big players in the market, have shed off the gains made in late October. Therefore, we might see most of the coins go back to the prices before the last week of October.
There are several crypto coins doing well during this bearish market condition, with some remaining stable during the current crash. Among the best buys today are Bitgert (BRISE) and Centcex (CENX). Despite the market crashing today, Bitgert and Centcex are among the few crypto coins that have remained stable.
Bitgert (BRISE) and Centcex (CENX) are also among the coins expected to post the biggest price growth this month. The price prediction for the Centcex and Bitgert coins is +300 this month. With the massive developments coming up, these two coins have the potential to be the best performers today and this week.
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