Many investors are anxious and uneasy in the recent downturn in the cryptocurrency market. However, historical experience tells us that market panic often does not last long. As shown by many rebounds in the past, now is the opportunity for projects such as Cardano (ADA) and Solana (SOL) to show their strong comeback.
Cardano (ADA): Upgrade imminent, price could rebound sharply
Cardano (ADA) appears to be gathering strength after a 20% drop over the past 30 days. Although ADA is currently trading at around $0.81, it has gained 3.3% over the past 24 hours, which has brought some confidence to the market.
The highlight of Cardano is its upcoming significant upgrade. The development team is continuously improving its blockchain, especially in terms of speed and scalability, making Cardano one of the fastest blockchains in the market. Once this upgrade is successfully implemented, ADA's price is expected to potentially break the $3 mark this year, attracting more investor attention.
Solana (SOL): Strong performance from decentralized exchanges boosts price recovery
Although Solana (SOL) has faced considerable controversy in recent months, the growth of its decentralized finance (DeFi) ecosystem provides strong support. Solana's TVL (Total Value Locked) is nearing $9.3 billion, and the trading volume processed by SOL's decentralized exchanges has reached hundreds of billions of dollars, demonstrating the depth and vitality of its ecosystem.
Solana has risen by 4.3% in the past 24 hours, currently trading at $179, successfully rebounding to the support level of $160. Although the price of SOL may fluctuate in the short term, overall, Solana is expected to challenge the $300 high again in the coming months.
Investors should prepare for the next wave of rebound
Despite the current market facing some challenges, the fundamentals of Cardano and Solana remain strong, with their upgrades and innovations laying the groundwork for future rallies. If these improvements can be successfully implemented, they are expected to lead the market's strong comeback.
