With the crypto market becoming increasingly volatile, two leading altcoins, Cardano ($ADA) and Solana ($SOL), have seen a significant dip in price.

Now that established tokens like these are stumbling, traders are looking for the next breakout star with more evident price prospects.

Amid this shifting market dynamic, some investors are pinning their hopes on Launchpad XYZ ($LPX), believing it could lead the next crypto bull run.

$ADA Price Crashes Amid Investor Uncertainty

It’s been a terrible few days for $ADA holders, with the token’s value plunging 17% between Tuesday and Thursday.

Although the price has pulled back slightly, $ADA is still hovering around the $0.263 level – the lowest since mid-June.

This drop has left many investors scrambling to reassess their portfolios, questioning the sustainability of Cardano’s previous bullish momentum.

The sentiment around the token has shifted, with factors ranging from macroeconomic woes to regulatory concerns weighing on the crypto market as a whole.

Additionally, data from CoinMarketCap show that the number of unique wallet addresses holding $ADA has either stagnated or, in some instances, decreased.

This suggests a slowdown in new user adoption, which can cause concern, given that a growing user base often indicates a healthy ecosystem.

Bearish Technicals Align to Send Solana Lower

Likewise, Solana hasn’t escaped the bearish sentiment, witnessing a 13% drop in its value since Tuesday.

$SOL is now trading around $21.95 – a far cry from July’s high of $32.30.

The token’s price has also broken through the 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs) in the past few days, indicating strong bearish momentum.

Such breaches of significant EMA levels can signal potential longer-term downtrends unless there’s a considerable reversal soon.

Adding to Solana’s woes, data from CoinGecko shows that Solana’s trading volume actually increased in the past 24 hours.

This suggests that the sell-off is not just a result of passive market movements but