Cardano has been experiencing losses this year, with a peak in February leading to Cardano holders facing significant losses exceeding $102 million. This surge in losses indicates a possible capitulation phase where investors sell off their ADA holdings at a loss. The decline in ADA's price is primarily due to decreased trust from crypto whales, shown by a drop in whale transactions from $23 billion to $17.4 billion within a week. As both Cardano whales and investors sell off their holdings, analysts advise selling as a bearish momentum for Cardano is forecasted in the long term. Fortunately, three alternatives to ADA have been gaining momentum in 2024.

Sui (SUI)

In 2024, Sui, a layer one blockchain, has shown resilience amidst market volatility. With over $593 million in locked capital across various DeFi protocols, SUI has surpassed competitors like Cardano, NEAR, and Aptos in total value locked. Its user-friendly technology and recent integration of DRIFE, a Web3 mobility infrastructure provider, position SUI as a cost-effective, secure, and scalable Blockchain. Although there has been a recent drop in the value of SUI, it has still seen a 12% increase over the past month. Analysts observe a rounded bottom pattern in the SUI chart, indicating a potential trend reversal. Expectations are bullish for SUI, with a predicted new ATH before the end of April.

Fantom (FTM)

Fantom (FTM) stands out as another viable alternative to Cardano. Despite recent market downturns, Fantom has shown resilience and innovation through its Sonic upgrade development. FTM has sustained an over 26% surge in the last month, with promising forecasts for further increases. The upcoming Sonic upgrade promises a throughput of 2000 TPS and a 90% reduction in storage cost, drawing increased investor interest. Analysts are optimistic about FTM's future, predicting a bull rally in spring.

Retik Finance (RETIK)

Retik Finance (RETIK) has gained significant traction as a strong alternative to Cardano, with substantial support in its 10-stage presales totaling $32 million. RETIK aims to quickly gain real-world adoption, offering a range of DeFi solutions to redefine financial accessibility and security features. Its price surge of over 400% reflects investor interest in the project, with expectations of further growth. The upcoming token listing and vesting schedule announcement have created anticipation among investors and enthusiasts for the launch of RETIK.

Keying Into More Promising Options

As Cardano faces uncertainty and sell-offs, investors have compelling alternatives in Sui (SUI), Fantom (FTM), and Retik Finance (RETIK). SUI's potential for widespread adoption, FTM's upcoming Sonic upgrade, and RETIK's innovative DeFi solutions offer investors opportunities for significant profits.