How Has the Recent Crypto Market Challenges Affected Solana and Solanax?

4 min readMay 31, 2022

The crypto market has been experiencing a rather tumultuous time during these last few months. So much so that every single cryptocurrency has been affected and left with a setback resulting in an overwhelming market value plummet. What could have caused it, and what will the future hold?

Let’s look over some of the main reasons which might explain why the crypto market is fighting such an avalanche of challenges. Before we dig deeper, it’s important to understand that there’s no singular reason for the recent crypto market crash. There’s a whole array of different factors that need to be taken into consideration.

Recent world events

Both the COVID global pandemic and the Russian invasion of Ukraine were some of those factors that had an impact on the prevailing decline in the crypto market. People are actively withdrawing funds in hopes of saving as much of their money as possible. There’s loads of information floating about on the internet, a lot of which is heavily misleading, and people are rightfully afraid. That’s why it’s important to do individual research and weigh the pros and cons carefully before deciding to invest.

Lack of trust and certainty in the crypto market

Probably the main reason that has led to such success in the crypto market in recent years can be attributed to the fact that it’s not as regulated and legislated. This gave it the freedom it needed to thrive and expand to amass huge amounts of wealth that so many of us are attracted to today. However, the downside of this kind of freedom resulted in an onslaught of meme cryptocurrencies and the ever-present unstable market volatility that can be easily influenced for better or worse. We don’t have to look far to see an example of this — just look at how Bitcoin’s value drop affected the market.

The crypto market has an amazing potential to become something phenomenal in the future, but we’ll have to go over quite a few hiccups along the way. One thing is for sure — certain changes need to be made to prevent such a domino-like crypto crash in the future. Better strategies and safeguards need to be put in place as well. In short, we all have to learn from this crypto crash and move forward with our eyes set firmly on the future.

Taking a glimpse into the future of the crypto market — what to expect?

Even though we’ve just talked about how various factors and recent events have negatively affected the crypto market, the bottom line is — it’s not the first and very likely not the last time we’ll see this. While it’s undoubtedly true that the 2022 crypto crash is one of the heavier ones, more experienced investors aren’t backing down.

So is this the right time to “buy the dip”? As with everything revolving around crypto, the answer is more ambiguous than we’d prefer. However, this doesn’t necessarily mean a bad thing — it simply means that you have to have some knowledge and exercise a fair amount of caution before investing in anything.

The current situation may be grim, but it’s not as bad as it was back in 2018 when Bitcoin went down by 80%. Some experts say that right now is a good time to enter the crypto market. While it’s still unsure how things will go from here on out, if we take calculated risks and don’t invest more than we’re willing to lose, we might just build a successful crypto background.

Why should you consider turning your attention to Solanax?

Solana has been steadily gaining popularity, which has skyrocketed in recent months due to its incredible functionality and usability. To put it simply, Solana is fast, efficient, and has little to no transactional fees. It’s easy to understand the sudden shift of attention when you compare Solana to Ethereum, for example, which despite its widespread popularity and use, is known for long processing times and high fees.

Solanax, which of course, is built on Solana, reaps all of the benefits of this blockchain and brings something new to the table that makes it stand out. Solanax is a completely decentralized platform that offers a remarkably fast DeFi experience. It was specifically designed to improve the way trades work significantly. By focusing on an individual trade experience, Solanax now offers a seamless transaction experience with almost zero cost.

And that’s not the end. Even though Solanax is still young, it’s already solving major DEX issues and, with an ambitious roadmap ahead, is set to become one of the most scalable platforms in the near future. So if you’re interested to see just how much Solanax can grow, now’s a pretty good time to jump right in. Since the recent crypto crash made all of the values drop, you can start investing slowly and build up later on.

Our community is very important to us, that’s why we endeavor to post updates as soon as they come. If you have any questions, you’re welcome to join our Telegram or check out our Medium for more information.

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Sources:

How Has the Recent Crypto Market Challenges Affected Solana and Solanax?

Recent world events

Lack of trust and certainty in the crypto market

Taking a glimpse into the future of the crypto market — what to expect?

Why should you consider turning your attention to Solanax?

Written by Solanax