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Solana overtakes Cardano



When we talk about flippening, we're usually talking about the two largest cryptocurrencies, Bitcoin and Ethereum . However, there are also races for market capitalization between smaller coins. This time we're going to look at Solana and Cardano's flippening.


On November 2, 2021, Solana overtook Cardano's market capitalization . This is important because both crypto projects are possible contenders for Ethereum's throne. Because both Cardano and Solana enable the use of smart contracts for the creation of DApps (decentralized applications) and much more.


Ethereum has become the foundation of the DeFi area with the early offering of smart contracts. In the future, alternative crypto projects could offer users better conditions (lower fees, faster transactions, ...) than Ethereum . Now let's look at the flipping of the "Ethereum killers" Solana and Cardano.


"Maybe they're just crazy people."

Charles Hoskinson, CEO of Input Output Hong Kong (company behind Cardano), has no concerns about the flippening of the two cryptocurrencies. During a YouTube livestream, he elaborated on a question about flippening:

"Oh no! Someone is criticizing us for the price ... I think some of them are actually bots. They can't be real people ... Or maybe they're just crazy people. "


In addition to market capitalization, cryptocurrencies can also be compared in other areas. For example, there is the percentage growth over the past few months. Within the last 12 months, the Solana price increased by around 11,431 percent, the Cardano price was 1,797 percent and Ethereum 852 percent.


How does the Cardano course react to flippening?

Since the introduction of smart contracts with the Alonzo upgrade, not much has happened with the Cardano course. The ADA price is around the USD 2 mark and reached an all-time high of just under USD 3 at the beginning of September.


This means that around 50 percent of investors are currently in the black, while around 30 percent are in the red with their Cardano investment, i.e. they bought at a higher ADA price. Flippening did not have a lasting impact on the Cardano price.


For the Solana course, the last 7 days were mostly down. The SOL price developed from over 252 US dollars to a local low of around 224 US dollars and is currently around the 233 USD mark. As BeInCrypto already reported , the Solana price could now fall sharply as a massive bearish divergence is emerging in the RSI.


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