Why Solana and Cardano cryptocurrencies are rising

In a matter of days, these cryptocurrencies have seen their prices increase dramatically.

At the start of the week, we observed an amazing jump in two cryptocurrencies, Cardano and Solana, which show quite spectacular progress. In fact, Cardano cryptocurrency records a gain of 25% in a day and Solana of 65%. A trend that is the opposite of Solana’s strong upsets in recent months, some analysts even wonder if it has simply disappeared due to FTX’s decline.

They are not the most processed cryptocurrencies in the sector, although they still rank 8th and 12th by market capitalization, according to data from Coinmarketcap. But they are the most active at the moment, with two news about them.

The new Bonk Crypto

Solana is already surrounded by very positive technical arbitration cases. Its progress is facilitated by the launch of a new cryptocurrency, called Bonk, with a dog’s head on it. The crypto has gained popularity over the past few months, with free tokens being made available to many users, which is called a air drop in the crypto universe.

Bonken took 3,000% at once, and all this is happening on the Solana blockchain, so there is a clear resurgence of interest in the original house cryptocurrency, since it had primarily suffered from the collapse of the FTX platform. Sam Bankman-Fried, the former head of the American giant, having been one of the most important partners in the Solana ecosystem.

And for Cardano, we’re betting more on a crypto that’s starting to improve after a somewhat chaotic start, a blockchain that continues to evolve toward more reliability after a big update in September. And also an initiative by the founder of the Cardano ecosystem, Charles Hoskinson, who announced the construction of a hospital center where it will be possible to pay for your care in cryptocurrency from the Cardano ecosystem, therefore a first concrete application in a sector , which is fully working with payment and payment solutions.

Antoine Larigaudrie edited by PA

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