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- ADA lost its position in the top ten and is currently at 16 in the market.
- Charles Hoskinson offered Solana to become Cardano’s sidechain.
Charles Hoskinson openly offered Solana to become its sidechain, but none of the community members of Solana have replied to the offer yet.
The community posted a Twitter poll on whether Solana should become a Cardano sidechain. The results of these polls are quite astonishing. As 6,393 people voted on the poll, approximately 76 percent voted in favor of Solana becoming Cardano sidechain, and around 24 percent voted against the opinion.
After numerical calculation, it is noted that 4865 voted in favor of Solana becoming the Cardano sidechain, and 1527 voted against this opinion.
SOL, the native token of Solana, is continuously losing its ranking in the crypto market. Earlier, ADA was among the top ten cryptocurrencies in the industry, and while writing this article, ADA was in one of 16 positions in the market.
Cardano was always among the top ten toppers of the crypto market, and ADA was always sitting one position below Cardano, and the last few weeks were horrible from a trading point of view.
Who is Responsible for Solana Decreasing Prices?
Solana coin is now trading at its yearly lows and looking to test the immediate support range of $10. The past few months for the SOL coin were a major setback, as the coin plunged 70% in the last three months and investors are now in fear. The bears maintain the grip on the top, and the coin continues to form lower lows.
The near-term support is at $10, but the coin is stuck in a range now and willing to break the cage to a lower side. Still, there is no hope for recovery because there is no indication of pullback.
Solana is now trading at $13.60 in the lower Bollinger band, and the coin has to test further lows again. It is assumed that a huge number of ADA users are constantly selling ADA, and the prices are going down and down because of no or fewer active buyers.
Cardano price seems sideways below the day moving average when buyers barely hold assets above the annual bottom level. As of now trading volume is very low compared to other trading sessions. Any price drop with massive trading volume may drive ADA momentum towards another low level.
According to a Twitter post from MuesliSwap’s official account, it is noted that it will be introduced into a single pool on December 8, 2022, and will later be launched on several others.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
