While Bitcoin bombed, here’s what remained in the green

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While Bitcoin bombed, here’s what remained in the green

  • Bitcoin’s price has fallen by over 11% in the last 24 to 48 hours.
  • Most of the top 10 cryptocurrencies in the world fell, despite El Salvador making Bitcoin legal tender.
  • Coins like Solana and Quant have been able to weather the storm.
So, Bitcoin bombed. Again.

Over the past 24 hours, the price of Bitcoin fell by 11% along with many of the top cryptocurrencies in the world. But while Ethereum, Cardano, Dogecoin and many others are in the red, here are some cryptocurrencies that are still in the green.

Solana

Solana
CoinMarketCap/BI India

The price of Solana is technically in the red, but the coin has risen by over 450% in the past month. At 3:44pm Indian Standard Time (IST), the price of Solana was at around $164, whereas its price was in the $31-33 range just last month.

The token, which has many of the properties of Ethereum, is also seen as its primary competitor. In the past month, Solana’s rise has been attributed to growing adoption in the Decentralized Finance (DeFi) and non-fungible token (NFT) markets.

In fact, while Solana’s price has dropped in the past 24 to 48 hours, Coinmarketcap shows an over 45% increase in its seven day prices.

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Quant

Quant
CoinMarketCap/BI India

At $317.24, you could argue that the price of Quant has fallen, but it’s actually more of a stabilization effect. Coinmarketcap puts it in the green on both 24 and seven-day price changes. The crypto platform released a big update on September 7 and reached an all time high of $387 the day before.

It’s this update that is pegged as the reason for Quant’s recent success. The Overledger 2.0.5 update was accompanied by the launch of Quant’s developer program and the coin has also been listed on large exchanges like Coinbase and Binance over the past few months.

What that means is that more developers are now building apps using Quant, which is why Coinmarketcap shows higher adoption in NFT and DeFi markets. Listing on the largest exchanges, on the other hand, brings even more trading volumes and hence raises the price.

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Litecoin

Litecoin
CoinMarketCap/BI India

Similar to Bitcoin, the price of Litecoin is also in the green in terms of 7-day averages. At the time of writing, the coin's price was just slightly ahead of its value about a week ago at $184.06. This doesn’t mean that Litecoin’s price hasn’t fallen along with the others, it is just reaping the benefits of its 2020 high and the bull run up to May this year.

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Algorand

Algorand
CoinMarketCap/BI India

Algorand was built in order to help scale other altcoins, and it has been able to weather this current storm. The coin was launched in 2019 and has closer ties to the gaming industry than the DeFi space.

The cryptocurrency is currently trading at $1.71, up by 22.43%, adding to its rise of nearly 50% over the last seven days.

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