According to the latest market trends in crypto, it seems that all of the cryptocurrencies are facing a downturn. The market has been volatile ever since November of 2021 rolled in. During that month, Bitcoin and various other coins saw a price dip. However, most experts did predict that Bitcoin, as well as most altcoins, will probably bounce back from this due to the decentralization trends. In the first week of 2022, Bitcoin did see a significant jump. However, it’s now heading for a crash. It is predicted that it’ll go down to 51-52K USD. Other altcoins are facing the same price dip.
Avax and Sol
Avax and Sol have been hailed as Ethereum’s killer by many crypto enthusiasts. According to them, these chains will probably take over Ethereum in 2022. However, both of these so-called “killers” of Ethereum saw a loss of 20%. The competition of Ethereum is constantly increasing, and according to most experts, it will continue to do so. This is because the crypto industry is gaining traction in the mainstream. Thus, new chains, coins, NFTs, and investment opportunities in DeFi will pop up throughout 2022.
Conclusion
It’s not as if only Avax and Sol have seen losses. During this global crypto market correction that is happening, almost every cryptocurrency and blockchain is facing a dip. However, for Avax and Sol, many people were not expecting the dip to be as massive as 20%. That raises some questions about their claims to be Ethereum’s killer.
