Logo
Cardano Ecosystem

Coinjournal

06/29/2022

·

474 views


Cardano vs Solana: Here’s Why SOL is a Better Buy than ADA

Cardano and Solana price have been in a strong bearish trend in the past… The post Cardano vs Solana: Here’s Why SOL is a Better Buy than ADA appeared first on CoinJournal.

Cardano vs Solana: Here’s Why SOL is a Better Buy than ADA

Cardano and Solana price have been in a strong bearish trend in the past few months. SOL is trading at $35.40, which is about 86% from its all-time high. ADA, on the other hand, is trading at $0.4782, which is about 82% below the highest point in 2021. The two have a market cap of over $12 billion and $15 billion, bringing the combined value to $27 billion. This means that the two have lost over $100 billion in value.

Cardano vs Solana

Solana and Solana are Ethereum rivals that make it possible for builders to create quality decentralized applications. Their use-case are projects like those in decentralized finance (DeFi), non-fungible tokens (NFT), and the metaverse among others.

The two have better features for building Web3 applications than Ethereum. For example, they are incredibly faster, have a lower carbon footprint, and significantly lower transaction costs. So, which is a better platform between Solana and Cardano?

There are two main reasons why Solana is a better investment compared to Cardano. First, Solana has a bigger ecosystem of applications. Some of the top apps built using Solana’s technology are Basic Attention Token (BAT), StepN, Squads, and Hoglytics. 

Learn more about how to buy Cardano.

Indeed, according to CryptoSlam, Solana is the second-biggest player in NFTs after Ethereum. And according to DeFi Llama, Solana has a total value locked of over $2.57 billion while Cardano has a TVL of less than $200 million. 

Second, Solana is a good investment because of its valuation. While it is hard to determine the ideal valuation of smart contract platforms, there are signs that Cardano is still overvalued. Besides, this is a cryptocurrency that is valued at over $15 billion that has no major application.

Cardano developers have said that thousands of projects are upcoming. Still, there is no evidence that these projects will ultimately be successful.

Solana price prediction

The chart below shows that the Solana price has been in a strong bearish trend in the past few months. As a result, the coin has dropped below the 25-day and 50-day moving averages while the MACD has moved below the neutral level. 

It is also staring at its lowest level this year. Therefore, there is a likelihood that Solana will continue falling in the coming days. If this happens, the next key support level to watch will be at $25. In the long-term, however, there is a likelihood that the price will bounce back.

It is worth noting that Solana and Cardano have a close correlation. Therefore, in this price-discovery phase, the coins will likely track each other.

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on Coinjournal

ORIGINAL SOURCE

https://coinjournal.net/news/cardano-vs-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Coinjournal

See more
Cardano heads further south amid stablecoin launch. What holds for the token next?
Coinjournal
Cardano heads further south amid stablecoin launch. What holds for the token next?

11/22/2022

·

153 views

Related News

See more
WingRiders Governance Token

Featured News

See more

Featured ISPOs

Genius X
GENSX ISPOACTIVE

250M $GENSX · Ends in 09/12/2022


Featured Projects

Ada Handle
Ada Handle

NFT

Featured

Featured Events

Cardano Summit 2022
Cardano Summit 2022

11/20/2022 - 11/22/2022 · Lausanne, Switzerland


    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)
Bringing Fixed Assets (CNFT & CNT) Lending & Borrowing to CardanoWorld’s First Multi-Token ISPO — By Genius X