Solana Dominates Altcoin Market: Are ETH, ADA and LINK Bulls NGMI?

Solana (SOL) has been an extraordinary performer in the crypto scene for the past six months. Since last October, it has recorded over 850% gain, soaring from around $21 to above $200. Meanwhile, rivals such as Chainlink (LINK) gained about 200% during the same period. Ethereum (ETH) and Cardano (ADA) have witnessed gains exceeding 100%.

Notably, Solana’s astronomic gains took place before the Bitcoin’s halving, with the much-awaited altcoin season in the initial phase. This has led to concern about whether it’s game over for other top market contenders as Solana continues to dominate the spotlight among the most prominent cryptos.

Weighing in on this conversation is the popular Cardano bull Dan Gambardello. In a recent analysis, Gambardello attempted to clarify the performance of Ethereum, Cardano, and Chainlink in relation to Solana.

SOLANA Dominates! GAME OVER For Ethereum, Cardano, Chainlink?

Intro 00:00
Altcoins looking pathetic? 00:20
Solana has been making moves 1:10
Understanding altcoin season 1:50
Did you miss the boat? 3:00
Chainlink did this last cycle 3:30
Cardano doing nothing? 4:20
Ethereum 5:05… pic.twitter.com/eXbLRtTQ7I

— Dan Gambardello (@cryptorecruitr) March 27, 2024

Gambardello cited market data suggesting Solana is the only asset among the most valuable tokens outperforming Bitcoin. While he praised SOL, the analyst argued that the development is not unprecedented.

On this premise, he recalled the price trajectory of Chainlink in the last bull cycle. Gambardello emphasized that LINK similarly experienced explosive gains of up to 1,000% gains pre-Bitcoin halving.

In contrast, contenders like ADA, SOL, and ETH did almost nothing while LINK mooned. Meanwhile, the analyst noted that Chainlink maintained its bullish momentum even after Bitcoin halved in 2020 but soon lost its steam.

Essentially, Gambardello sought to emphasize that Solana’s lone bullish trajectory should not overly concern market participants to the extent that they believe other coins will never have their moment. He stressed that the altcoin season is poised to commence after Bitcoin halves, and the game will really change.

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