The crypto market has ended the week with a price plunge, with most of the large cryptocurrencies in a dip. Though things look to have stabilised at the end of the week, the crypto community believes the marker is rebounding in a big way. But not also cryptocurrencies were not affected by the plunge, with some remaining bullish during this period. Here are the week’s top updates you should know.
Cardano is one of the large cryptocurrencies hit by the current plunge. The coin has been plummeting for the last seven days. But this is not the first time Cardano has been in this situation and bounced back. There is so much coming up that will make the Cardano bullish once the market stabilises.
Hydra upgrade is the next big thing that will drive Cardano prices up going forward. This is a layer-2 scalability solution that will improve Cardano network’s transactions speed. The team has also announced that more dApps will be going live on the network upon the protocol upgrade.
SundaeSwap and MuesliSwap are some of the dApps that have been confirmed to launch soon. So Cardano is coming back from the dip stronger.
The last week has not been kind to the Solana team either. $SOL is one of the coins that have plunged. But this is one of the cryptocurrencies that does not give up that easily. Solana is a super robust cryptocurrency and will definitely come back from the plunger even stronger due to a number of things.
First, being the fastest blockchain in the industry means more new users will be joining the Solana. The number of developers is projected to increase, and this will grow Solana prices. The Solana team has in its 2022 roadmap a strategy to make the mainnet more efficient and increase its tps rate.
The team is also planning to have more DeFi, NFTs and Web3 projects on the Solana network. All these are factors that will make Solana rebound stronger.
3. Binance Coin
Binance Coin is not ending the week on a high. It is one of the cryptocurrencies hard hit by the current price plunge. But Binance is not just another cryptocurrency. It is currently one of the coins high in demand. Therefore, we can expect it to bounce back strong and reach the project 2022 price.
Binance exchange is currently the largest cryptocurrency exchange in terms of traded tokens every day. The number of bep20 tokens has been on the rise as the number of projects on the Binance Smart Chain has increased rapidly. These factors have not changed and are expected to grow bigger in 2022.
Therefore, the Binance coin has everything it needs to rebound stronger. So buying Binance coin now might be the best decision investors can make today.
Bitgert is one of the coins that grew exponentially over the last week. When other coins, including the large cryptocurrencies, were plunging, Bitgert was mooning. The coin also grew in value by almost tripling the market cap. This growth can be attributed to several things that happened at Bitgert during this week.
First is the announcement of the Brise exchange beta version coming at the end of February. The centralised cryptocurrency exchange will be a big thing upon launch. The team also released the images of the Brise exchange. The coming of the Bitgert zero gas fee exchange has been a major factor in this growth.
The doxxing of the Bitgert team also happened during this week. These are some of the developments that changed the course of Bitgert coin this week. Visit the Bitgert website for more.
Centcex is the only cryptocurrency on the list that has been mooning for the entire. It is still green, while all other cryptocurrencies are red at the time of this writing. The Centcex project has been attracting many crypto investors mainly because of the massive utility it is promising.
Centcex will be developing a huge collection of products that will be running on its ecosystem. As the team says, the Centcex lab will be developing an unlimited number of products. The funding of the lab comes from a 3% tax on all transactions occurring in the Centcex ecosystem.
With the 100%APY staking reward and the huge number of products coming, the platform is attracting many crypto investors. The Centcex exchange is a product that is in the development stage. Read more about the project on the Centcex website.
Matic, Polygon blockchain native token, is one of the coins that have plummeted for almost the entire week. However, Matic is one of the cryptocurrencies that might make one of the biggest comebacks. This is because of several expected developments.
As one of the smart contracts improving Ethereum’s scalability, Polygon (MATIC) is still one of the most sought after platforms by developers on the Ethereum network. Therefore, until when Ethereum network can offer a better experience than Polygon, Matic is expected to do well.
This is week also saw Matic grow stronger with Polygon’s announcement of acquisitions of more scaling solutions over the last few months. Hermez, Nightfall, Miden, and Zero are some of the new scaling protocols expected to grow Matic bigger once the plunge subsides.
Avalanche has also experienced plummeting prices over the last week. The coin has not stabilised yet, but the new week might be better. But Avalanche is not just another coin but the fastest smart contract right now. This is as measured by time-to-finality.
The Avalanche team is working on improving the contract to make it more efficient and even faster. The team is also planning to add more utility to the platform to attract users. A look at the Avalanche Q1 2022 shows a very robust smart contract.
Therefore, more developers will be joining the Avalanche smart contract. There are also so many projects that are empowered by the Avalanche contract, and all the development will indirectly affect the AVAX prices. Therefore, the AVAX will be coming back stronger.