This week, it was a culmination of many promises in the next few years in the cryptocurrency industry. President Trump has ended a part of the virtual currency regulation due to compulsory measures taken over the past few years, and the securities and trading committee (SEC) has withdrawn SAB 122, which is banned from holding virtual currency for customers. 。 However, these movements were not useful for the market, and many altcoins fell two digits this week.
According to the data provided by S & P Global Market Intelligence (Crystal: ADA) Polkadot has fallen 13.6% in the past week, one of the most declined stocks. (Crystal: dot) 14.4%dropped, UNISWAP (Crypto: Uni) It fell 15.4 %.
This week, despite the many news that the cryptocurrency industry was seeking, it seemed to be a week of selling news in the cryptocurrency industry because the buyer did not appear. In fact, despite the better market environment, whales have sold 180 million Cardano Token this week.
For several months, I have argued that the price of all cryptocurrencies does not necessarily increase, even if the cryptocurrency market environment is improved from a regulation perspective. Demands are required to increase tokens, but building innovative products on blockchain does not necessarily increase the demand for tokens itself.
Another big news of this week was the release of Trumpmeme Token last weekend, which was not traditionally popular at Ethereum. (Cryptography: ETH) Layer 2 solution like Polkadot. Released in Solana (Crypto: SOL)。 As a result, we do not use general Ethereum Swapping tools such as Uniswap. I use Solana’s native token exchange and wallet on an incredibly effective scale.
Solana has completed about 300 million transactions in the past month and has endured the stress of new Memcoin. If you can respond to this, why do you need to use low -speed and expensive layer 2 solutions?
UNISWAP is also losing market share on a quantity, and it will be a threat if cryptocurrency activity moves to Solana. Solana has a much lower commission than most competitors blockchain, so small transactions are more reasonable.
In short, Solana is absorbing the air of competitors from Polkadot to Cardano, and it’s not surprising to see them falling this week.
Obviously, the cryptocurrencies are gaining momentum, especially the advisor David saxophone, as stated that Memcoin and non -alternative tokens (NFT) were collected today, and many innovations on blockchain. That is likely to happen. But what does it mean for the native blockchain token?
The story continues