The cryptocurrency sector has entered the mainstream. Projects like Solana (SOL) are taking the financial industry by storm. The SOL network has seen incredible growth over the last few years. SOL’s price has also increased manifold since its inception. SOL faced a nasty hit after the collapse of FTX in 2022. The asset’s price fell to below $10 at one point. Since its 2022 lows, SOL has made quite a recovery.
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Cryptocurrency Market Enters Recovery Phase
The crypto market faced a steep correction earlier this week. The dip was likely due to the controversy around the Libra coin. The project has been accused of insider trading. Argentina’s President Javier Milei’s connection to the cryptocurrency may have made investors wary.
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The cryptocurrency market has struggled to gain momentum this month. Macroeconomic factors also present a significant barrier to the market. The Federal Reserve has paused interest rate hikes. Despite the pause in rate hikes, the Fed has yet to announce an interest rate cut for 2025.
Top 3 Cryptocurrencies To Watch If You Like Solana
1. Ethereum (ETH)
ETH is the second-largest cryptocurrency by market cap. The ETH network is also home to the largest number of crypto projects. Many assets are based on the ETH network. ETH has struggled to gain momentum over the last year. The launch of ETH ETFs also did not push the underlying asset’s price. ETH could see some growth over the rest of this year.
2. Binance Coin (BNB)
Like Solana (SOL), BNB also has its own network. The BNB chain is home to several cryptocurrency projects. BNB has also experienced incredible growth over the last few years. The asset is expected to continue its upward momentum over the coming months.
3. Cardano (ADA)
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ADA is one of the most developmentally active crypto projects. The asset has failed to gain traction over the last few years. Its high developmental activity could prove a strong point for growth.
