Crypto investors in 2022 are no strangers to volatility in the market. In the same vein as 2021, albeit with currently slightly less growth, this year has been topsy-turvy at best. There have many opportunities to ‘buy the dip’.
Bitcoin (BTC), as ever, is the market leader. Its market cap is more than twice that of any other cryptocurrency and its market dominance is over 40% at the time of writing. The crypto market as a whole in 2022 is perfectly exemplified by the fortunes of BTC; down 23%, up 30%.
Other major cryptocurrencies, specifically those inside the top 10 market cap rankings, have faced similar ups and downs. Cardano (ADA) and Solana (SOL) are down by 7% and 8% respectively over the last seven days. Worldwide events, like the cost of living crisis and Russia’s illegal invasion of Ukraine, are having an effect on finance in general.
In an attempt to remain immune to market forces, many crypto backers are turning to pre-sales. New projects are often extremely lucrative investments, and until they are publicly released, they only increase in price. Seesaw Protocol (SSW) is one of these projects.
Cardano (ADA) is the 8th ranked cryptocurrency and has a market cap of over $27 billion. It was founded by Ethereum (ETH) co-creator Charles Hoskinson. Its transaction speed and low fees have seen it, at times, in amongst the top 5 cryptocurrencies. It exploded 1600% in 2021 to reach a new all-time high of $3.10.
2022, however, has not been as profitable. From the start of the year to the time of writing, ADA has dipped 40%. There have been rallies each month but so far ADA continues to trend downwards.
In positive news, Cardano whales have been continuing to pack their bags, and investors with 1-10 million ADA tokens rose to $9.72 at the beginning of March. This indicates that major financiers are confident that ADA is one for the long term, if not the immediate future.
Another project that has been tipped for the long-term future is Solana (SOL). Similar to Cardano (ADA), SOL is down over the last week. A mere four months ago, Solana hit its peak of $260.
Since then, it has fallen by 68%. At the time of writing, SOL is valued at $83. Its weekly high was around $105, and it seems a tug of war is underway between the bears and the bulls. In a volatile market, SOL has stood out.
For investors, of course, it is imperative to remain bullish and think of the bigger picture. Solana has been tipped by some to compete with Ethereum (ETH), especially with regards to NFTs, where currently it has much lower fees and often faster speeds than the ETH network.
Seesaw Protocol (SSW)
Stage two of the Seesaw Protocol (SSW) pre-sale is almost two weeks in and has 18 days left to run. Since beginning this stage, SSW has gone up another 32% after unprecedented success in Stage one, where it skyrocketed by more than 1000%.
The project itself looks to have valuable applications in the real world. For users, it will bridge the gap between the Binance Smart Chain (BSC), Polygon (MATIC) Network, and Ethereum (ETH) Network. This allows holders to navigate across blockchains in order to find the best speeds and lowest fees for their transactions.
Over the last 24 hours, SSW has increased by around 2%. If this continues, the bare minimum that SSW would reach at launch would be $0.2. Other analysts have predicted it could go up even further before its release on April the 8th.
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