And it seems to remain steady, as newer cryptos built on the Ethereum blockchain, such as Big Eyes Coin, are also proving to be bear market challengers.
Solana (SOL) Loses 83% Value In 2022
SOL, the native token of the Solana blockchain, an Ethereum blockchain competitor, has not been doing so well in 2022. Since the start of the year, this cryptocurrency has lost around 83% of its total value so far and is only dropping further.
Many believe SOL to have fair transaction fees and the Solana blockchain itself to be highly efficient and stable. However, after a recent power outage that meant the Solana Blockchain was offline for more than four hours, its reputation was a little tarnished.
Polkadot (DOT) Also Loses, With 77% Less Value Than In 2021
Labelled as an Ethereum blockchain competitor by Forbes, Polkadot, is a multichain protocol that connects a network of blockchains and facilitates cross-chain transfer. The native token of this protocol is DOT. This coin is used for three main reasons: staking in operations and security, governance and bonding tokens to connect parachains.
Recently, Polkadot announced the highest development activity within its lifetime. However, this has seemed to have little impact on the valuation of DOT itself or its competition with Ethereum.
ERC-20 Token Big Eyes Coin Meets $8,400,000 Of Stage 6 Presale
For more information on the Big Eyes Coin project:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Source: https://www.thecoinrepublic.com/2022/10/23/ethereum-killers-solana-and-polkadot-crash-amid-erc-20-token-big-eyes-coin-surpassing-8-4-mil/