Visa Cryptocurrency

3 Top Cryptocurrencies That Are Down up to 45% From Record Highs

Diagonal chain made of zeros and ones. Cryptocurrency and mining.
Written by publishing team

Image source: Getty Images

In the past two months, cryptocurrency investors have seen a sharp drop in portfolio values. After touching record highs in November 2021, most digital coins have taken a beating, trading significantly lower at the moment. Let’s take a look at three high-profile cryptocurrencies that are attractive to the opposition investor.

Solana

One of the best performing cryptocurrencies in 2021, Solana (CRYPTO:SOL) It’s up 10,000% last year. At the moment, the SOL token is down 46% from its all-time high, estimating the sixth largest cryptocurrency with a market capitalization of $43.66 billion.

Solana has many advantages over other blockchain networks in terms of size, costs and transaction speeds that enable it to create dApp (decentralized application) projects on its platform. Basically, dApps use smart contracts to provide services on the blockchain network.

Solana’s network transaction speed is 50,000 per second, which is much higher than Ethereum (CRYPTO: ETH), as the transaction speed is only 30 per second. Furthermore, Zebec is a Solana-based payments protocol that enables real-time financial transactions in the investment and payroll sectors. Earlier this month, the payment processing giant Visa Collaboration with Zebec to enter into a wide range of disruptive payment solutions.

Avalanche

Avalanche (CRYPTO: AVAX) is the 11th cryptocurrency in the world with a market capitalization of $22.5 billion USD. The AVAX token gained over 3,300% in 2021 and is now down 37% from all-time highs. Similar to Ethereum and Solana, the Avalanche blockchain is also a smart contract platform that supports scalable dApps that include DeFi products.

The avalanche network is secured by a PoS (Proof of Stake) mechanism where validators verify transactions and sample from a small portion of computers rather than waiting for each node to reach an agreement. This consensus mechanism ensures that the avalanche network can perform 4,500 transactions per second, and this number may reach 20,000 in the near future.

In addition to speed and scale, the avalanche blockchain is also interoperable. It is compatible with Solidity which is a programming language used by developers to build dApps on the Ethereum network. Basically, dApps published on Ethereum can be made available on Avalanche as well.

sand

The last cryptocurrency on my list is sand (CRYPTO: SAND), which is up more than 9500% since August 2020. However, the SAND token has also fallen 42% from its record highs, valuing it at a market capitalization of $4.47 billion.

A blockchain network that is part of the metaverse sector, Sandbox must take advantage of several secular tailwinds moving forward. According to Nonfungible.com data, digital real estate purchases have already crossed $100 million.

Based on the Ethereum blockchain, the SAND token is used to facilitate transactions in the virtual world. Here, players can buy and sell real estate inventory as well as create property assets that can be sold at a later time.

For now, the usefulness of the SAND token is limited to the Sandbox game. But The Sandbox is rapidly gaining momentum and will also launch on mobile devices by the end of 2022, driving up demand for the token.

About the author

publishing team