– Cardano lost its spot as the third-largest cryptocurrency during sell-off in the overall crypto market.- Analysts expect Solana to finish the month higher than it started, SOL has posted over 37% gains in September.- Solana has offered the second-highest risk-adjusted returns in the past 30 days, Cardano and Ethereum lag behind.Solana decoupled from top cryptocurrencies Bitcoin and Ethereum in September 2021.
Popular as “Ethereum killers,” Solana and Cardano compete for a higher share of the decentralized application ecosystem.Updates in Solana outweigh trader concerns, analysts expect SOL price to climb higher According to some proponents, the outage suffered by the Solana network was the nail in the coffin for the altcoin.
However, Solana recovered, posting nearly 40% gains in the past 30 days.
Solana is considered an Ethereum alternative, just as Cardano and Polkadot.
Market observers have noted that the altcoin has roped in Bitcoin maximalists, primarily due to its high return on investment over the past year.SOL posted over 4500% gains since September 2020.
Travis Kling, founder and chief investment officer of Ikigai Asset Management, has noticed SOL’s popularity among Bitcoin proponents.After talking to a bunch of folks over the last couple months, it’s pretty clear that SOL is successfully winning over a significant number of BTC Maxis or near-maxis, which have previously owned zero ETH or very little ETH.— Travis Kling (@Travis_Kling) I think there’s a couple reasons for that- [September 23, 2021] Cardano may have initially gained popularity on similar grounds, moreover after the Alonzo hard fork has paved the way for hundreds of smart contracts to join the network.Cardano and Solana are now actively competing to attract developers and decentralized finance projects to their ecosystem.Cardano’s financial arm, Emurgo, has announced a $100 million investment in two vehicles.
The first vehicle invests in DeFi and NFT-based projects through Emurgo ventures, and the second focuses on Africa-based cryptocurrency solutions, funding nearly 300 startups.Cardano has taken steps to introduce projects that boost the utility and demand for ADA, its native token.At the same time, Solana’s long-awaited ‘Ignition Hackathon’ has offered several prizes and incentives for next-gen Web3, gaming and DeFi projects building on its network.
1/ There are prizes for each of the four IGNITION tracks — Web3, DeFi, Gaming, Arts & Collectables — but did you know that there are also several company prizes? — Solana (@solana) Here’s what you could win [September 28, 2021] With the addition of Solrise DEX Pro, a decentralized exchange built on top of Serum (a Solana-based DEX), there is a boost in the utility of native token SOL.Interestingly, SOL has offered the second highest risk-adjusted returns among top cryptocurrencies over the past thirty days.The altcoin has left https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-could-be-compromised-as-one-of-the-largest-eth-mining-pools-is-shutting-down-202109281528 and Cardano, its top competitors behind, ranking in top three.Cryptocurrency risk-return.Cardano’s payment gateway provider COTI Network recently announced the launch of a new DeFi stablecoin Djed.DeFi operations can avoid transaction fees and ensure price stability through the use of Djed.
Since high gas fees are a cause of concern among most Ethereum users, Cardano’s latest development will likely attract users from the ETH community.The battle for a higher DeFi market share is on.FXStreet analysts have evaluated Solana and predicted a 20% pullback before SOL begins its upward climb.Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.You should do your own thorough research before making any investment decisions.
FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.
Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.The author will not be held responsible for information that is found at the end of links posted on this page.If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.The author has not received compensation for writing this article, other than from FXStreet.FXStreet and the author do not provide personalized recommendations.The author makes no representations as to the accuracy, completeness, or suitability of this information.
FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.Errors and omissions excepted.The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.[Cryptos feed].
