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Cardano (ADA) and Solana (SOL) Record Double-Digit Price Spikes

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Sun, 05/15/2022 - 16:29
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Alex Dovbnya
The leading “Ethereum killers” have emerged as the best-performing cryptocurrencies over the past 24 hours
Cardano (ADA) and Solana (SOL) Record Double-Digit Price Spikes
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Cardano (ADA) and Solana (SOL) have been the best-performing cryptocurrencies over the past 24 hours within the top 10. The two cryptocurrencies have added 11% and 14% over the past 24 hours, respectively, CoinMarketCap data shows.

ADA
Image by coinmarketcap.com

Avalanche (AVAX), yet another Ethereum killer, is up 15% over the same period of time. Still, the token is still down 34.54% over the last week alone. AVAX suffered from extreme selling pressure due to Avalanche’s affiliation with the Terra disaster.

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Bitcoin Losses Add to Mounting Fears of Debt Default in El Salvador
The epic collapse of one of the top cryptocurrency projects erased hundreds of billions of the market earlier this week. Bitcoin, the world’s largest cryptocurrency, dropped to as low as the $25,000 level but has since managed to partially recover. It is currently sitting slightly below the $30,000 level on major spot exchanges.

The cryptocurrency market is currently valued at $1.28 trillion.

Bitcoin and Ethereum are down 56.58% and 57.79%, respectively, from their record peaks that were recorded last November.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.