Cardano Vs Solana: Which Is The Better Investment For The Next Bull Market?

Cardano and Solana are competitors in the decentralized finance (DeFi) and non-fungible token (NFT) space as both blockchains offer smart contract capability that makes the creation of these assets possible. Both of their native cryptocurrencies namely ADA and SOL have also taken a significant beating in the market as the bear market raged on.

Timeline of Cardano, Solana

Charles Hoskinson, the founder of Cardano, has addressed recent concerns about the network's governance structure, reassuring ADA enthusiasts and users that development processes will be robust and transparent.

Cardano (ADA) had been recently struggling to find solid support until it did so at $0.30, whereafter, bulls were able to successfully regain momentum. The price this week increased rapidly, eventually reaching the point of resistance at $0.35.

Formfunction, the one-on-one NFT marketplace based on the Solana blockchain, announced its plans to shut down the platform amid NFT's trading volume and prices slump. The digital firm announced on March 15, without pointing to the exact reason, that it would be functional till March 29 only.

Crypto Prices Today: The market is trading in red today as Bitcoin, and Altcoins including Ethereum see a decline. As of writing, Bitcoin price has decreased by 0.96% in the last 24 hours.

Cardano [ADA], the decentralized Proof-of-Stake (PoS) blockchain, has put up with consistent neglect by folks in the crypto-channel. The lack of attention given to the network might be surprising though, especially as the ecosystem reacted positively to recent crises in the industry.

Institutional cryptocurrency investors have raised their bets on cryptocurrency investment products offering them exposure to Solana ($SOL) and $XRP, the native token of the XRP Ledger, during the past week, which saw record outflows from crypto investment products.

Cardano had attempted to recover on its chart in the past week, but the bulls could not sustain the attempted upward movement. Over the last 24 hours, ADA dipped close to 9%, and in the previous week, it registered a loss of 1%.

Cardano [ADA] rebounded strongly after hitting its recent low of $0.3020 on 12 March. It saw aggressive buying at the above lows pushing its price break key resistances as Bitcoin [BTC] surged to the $26k area.

A Solana ($SOL) whale has, according to transaction data from the cryptocurrency's blockchain, deposited $10.2 million worth of the smart contract platform's native currency to Coinbase, a leading US-based cryptocurrency exchange.

Over the past few days, Solana has been attempting to reverse its price action. Over the last 24 hours, the altcoin surged above 11%, bringing the price to a crucial level at press time.