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It's a battle of supremacy for most cryptocurrencies, and investors are here for it. There has been a massive switch recently, especially from Solana and Cardano investors. This movement follows a sharp decline in Solana's and Cardano's prices and Bitgert Coin's incredible progress in that period.
Crypto market analysts are watching the situation and reveal the following as insights into this frenzy and tips to help you maximize available opportunities.
Bitgert price's momentum is increasing rapidly, and the crypto has managed to sustain this growth pace over time, outshining top names like Solana and Cardano while at it.
Market analysts believe this momentum is thanks to the interest and hype Bitgert has built from the launch of its blockchain and other utilities. Thanks to the Bitgert BRC20 blockchain being the only blockchain with a $0.0000000000001 gas fee and 100k TPS, it displaces Solana and Cardano in preference.
These pointers justify Bitgert's skyrocketing price performance over frontrunners like Solana and Cardano and the crypto defying existing market bearish sentiments. The user base of the Bitgert chain keeps increasing, and market analysts project investors from prominent cryptocurrencies like Solana and Cardano will keep buying and accumulating BRISE tokens. That buying momentum will project Bitgert to 'the moon' and reward Cardano and Solana investors who switch to Bitgert with insane gains.
Cardano TVL, according to chart analysts, is valued at $520 million. This figure is according to reports as of March 14. Now, there has been a massive decline in this figure to $409.9 million as of March 22. This fall reflects a staggering $110 million reduction in only a week. That amount of retreat in defi participation on a Layer-1 blockchain network is an evident sign that the platform's native crypto has a strong bearish potential.
This highlighted Cardano's setback indicates a fall in demand for defi services hosted on the Cardano network and a loss in market share for Cardano to the likes of Solana and vibrant Layer-2 networks like Arbitrum and Optimism.
With Cardano lacking defi traction, experts predict the latest Cardano price retreat might deepen, and considering alternatives is the way to go.
There has been a decline in different aspects of the Solana price chart. One is the short-term EMAs above longer-term EMAs, such as the 100 and 200. That fall and other bearish activity follow the current Solana price decline. Solana analysts see this as a short-term consolidation for Solana's SOL. Still, it's one loss trend most Solana investors don't want to see.
Solana's price in a correction phase will lead Solana's price to test the $161 support, according to experts. There might be a further fall to $137 for Solana should this support price level fail to hold. This 21% retreat can be thwarted by Solana's bulls, restoring the consolidation phase and possibly reaching $210 again, a 20% climb from the current Solana price.
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