The Ethereum price dropped by 15% during the recent market crash, which also made the likes of Bitcoin trade below $40k again in 2022. The plunge affected almost all cryptocurrencies, but some managed to not only withstand the market forces but boomed. Bitgert skyrocketed 60% in the past 7 days, a time when the entire cryptocurrency industry was crashing. Why have these cryptocurrencies posted such varying price performances? Read more here:
Bitgert
The performance of the Bitgert coin over the past 7 days has been incredible. The coin has been skyrocketing to increase by 0ver 60% in just a week, making it one of the best gainers in the crypto market. But why is Bitgert posting such an impressive price increase when the market is plunging?
The recent launch of the Bitgert BRC20 blockchain is one of the major factors driving Bitgert price. The Bitgert chain is gasless, meaning blockchain users will be able to transact on the chain by paying a gas fee of $0.0000000000001 only. You can call this Bitgert gas fee zero. There is no other blockchain offering such a low gas fee.
Apart from the zero gas fee feature, the Bitgert chain is now faster than Solana, which makes it the fastest chain in the market. With 100k transactions per second, the Bitgert chain has become the most sought-after by investors and blockchain users. These are the reason the coin has risen 60%.
Centcex
The crashing market did not have a huge impact on the Centcex price like Ethereum. Although Centcex coin did not skyrocket like Bitgert, the coin managed to maintain a very stable price. When the market was plunging, the coin was not dropping at a fast rate like Ethereum and other cryptocurrencies did.
The reason for the stable Centcex price during the bear market is the growing number of token holders throughout the past 7 days. The Centcex coin marketcap was still growing as more investors were joining the coin. That’s why when Ethereum investors were selling, Centcex investors were buying more. With the current bull market, the Centcex coin has been making an impressive recovery.
Ethereum
The Ethereum price plunged 15% during the past 7 days. It is among the cryptocurrencies doing very well in February but was hard-hit by the recent market crash. The huge drop was caused by the market forces, but the slowing demand for the Ethereum coins could also be the reason. The likes of the Bitgert chain becoming a tough competitor for Ethereum.
With Bitgert blockchain offering faster speed as well as lower gas fees than Ethereum, the performance in the market will be affected. The adoption of Ethereum is also slowing as more developers join the likes of Bitgert for cheaper gas and faster transactions. Therefore, competition might be the reason Ethereum plunged such a large percentage.