Bitgert Coin’s Trajectory: A Threat to the Dominance of Solana and Ethereum?
There is a new sheriff in town! Word on the street is that this new crypto might be the next big thing after Solana and Ethereum.
With such high claims, this new coin has caught the eye of Ethereum and Solana investors and analysts seeking massive profits. Here, we reveal experts’ take on the growth of this new challenger and whether or not it’s a threat to Solana and Ethereum dominance.
The Ethereum ecosystem recently received news from Coindesk that the “Ethereum Foundation is under investigation by a state authority.”
For clarity, the Ethereum Foundation is a Swiss non-profit institution running the affairs of the Ethereum community. News of the investigation by this unnamed “state authority” broke out on the group’s website’s GitHub repository. At press time, we don’t have clear information about the scope and focus of the Ethereum Foundation investigation. However, the GitHub commit dated Feb. 26, 2024, reads, “We have received a voluntary enquiry from a state authority that included a requirement for confidentiality.”
This news has created a quick Ethereum selling frenzy. The massive Ethereum (ETH) sellout further drove down the crypto’s price, leaving Ethereum investors sceptical. The focus for most Ethereum investors is now on finding alternative assets.
Solana (SOL) has faced bearish spells recently, with a 15.9% Solana price fall on March 19 and a $166 five-day low. This bearish trend follows a week-long Solana rally that shortly drew Solana close to $210 and a new $92 billion all-time high market cap.
Although Solana experienced a brief price recovery at press time, it could only recover some of the losses. Solana’s price momentum might have returned to bullish at press time, but the full day of
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