Solana, Cardano & Bitcoin — Asian Wrap 09 January

Solana, the Ethereum-killer altcoin is recovering from the decline in network activity and price post the FTX exchange collapse in November 2022. The altcoin network witnessed a recovery in its network activity, bringing it up to three times that of pre-FTX collapse.

Cardano, Ethereum network’s competitor and one of the largest altcoins in the crypto ecosystem noted a spike in whale wallet holdings. Cardano community members are awaiting three key events in the altcoin’s network in 2023. The outlook on the altcoin is bullish. 

Bitcoin, the largest asset by market capitalization, has witnessed a consistent decline in its volatility over the past eight weeks. Despite declining activity on the Bitcoin network, analysts have identified a potential bottom at the $16,800 level.