Although in the mean time the crypto markets are dominated by Bitcoin value actions, there are some cryptocurrencies that comply with their very own pattern: let’s study ATOM (Cosmos), SHIB (Shiba Inu) and ADA (Cardano).
Evaluation of the cryptocurrencies Cosmos (ATOM), Shiba Inu (SHIB) and Cardano (ADA)
ATOM is the native cryptocurrency of the Cosmos ecosystem.
In idea Cosmos is an unbiased ecosystem, which shouldn’t be influenced by Bitcoin or Ethereum.
Really, the value pattern of ATOM is closely influenced by that of BTC, and to a lesser extent by that of ETH, though with some actions of its personal.
Particularly, within the final seven days the market worth of ATOM has elevated by 12%, in comparison with -3% for ETH and +0.1% for BTC.
This constructive distinction for ATOM, nevertheless, is adopted by a pointy drop within the final thirty days, throughout which it has misplaced 18%.
In different phrases, simply earlier than mid-April, throughout the pre-halving retracement, the value of the Cosmos cryptocurrency skilled a pointy drop, a lot larger than that of Bitcoin or Ethereum.
Since then it has merely been bouncing again, going from $7.7 to $9.1.
What’s shocking, nevertheless, is that its present value is definitely decrease than the $10.6 originally of the 12 months, though in mid-March it managed to rise above $14.
In brief, 2024 just isn’t proving to be an excellent 12 months for ATOM thus far, as its value continues to be down by a staggering -79% from the highs of 2021.
Simply suffice to say that the present value is even decrease than that of Could final 12 months, and it’s because not even 2023 was an excellent 12 months for the Cosmos cryptocurrency.
A good uglier truth is that the present value just isn’t a lot increased than that of August 2020, earlier than the beginning of the final main bull run, and that in October of final 12 months it had additionally dropped closely beneath that threshold.
It nearly appears that for the reason that implosion of Earth/Moon in 2022, ATOM has misplaced all of the beneficial properties from the final massive bull run in 2021 and has by no means been capable of get better them.
The pattern of SHIB (Shiba Inu)
Shiba Inu is among the most necessary memecoins current at this time.
Though it’s a token, and never a local cryptocurrency, the mission has its personal blockchain which is simply a layer-2 of Ethereum.
Even for SHIB, the previous few months are usually not proving to be notably completely satisfied thus far.
Within the final seven days it has misplaced 1.5%, and within the final thirty days it’s shedding 16%.
It must be famous, nevertheless, that the present value of 23 cents is considerably increased than the ten cents originally of the 12 months.
So regardless of a -16% within the final thirty days, it nonetheless maintains a +120% for the reason that starting of the 12 months.
Nevertheless, it have to be stated that 2023 has not been a very good 12 months for the value of Shiba Inu, because it has solely managed to go from 8 to 10 thousandths of a greenback even within the face of the start of the bull run in October.
At the moment, it’s nonetheless down by -73% from the highs of 2021, and for the reason that implosion of Terra/Luna two years in the past, it has solely made one vital upward motion this 12 months, originally of March, when in just some days it went from just below 10 millionths of a greenback to nearly 36 millionths, with a +260% in every week.
Being a memecoin, its value pattern strikes in jumps, with actual pumps usually adopted by dumps.
Moreover, it shouldn’t be forgotten that just lately different memecoins have landed on the crypto markets which can be performing higher than SHIB by way of value.
ADA (Cardano) efficiency
ADA is the native cryptocurrency of the Cardano blockchain.
Regardless of nonetheless being among the many prime 10 cryptocurrencies by market capitalization, its value efficiency is unquestionably disappointing.
Within the final seven days it’s shedding 1.5%, whereas within the final thirty days it’s at -24%. Nevertheless, what strikes probably the most is the -24% for the reason that starting of the 12 months, which makes it the cryptocurrency with the very best loss in 2024 thus far among the many prime 15.
Nevertheless not less than till April twelfth it had not carried out badly on this 2024, going from $0.6 to $0.77, however solely to drop in the previous few weeks even beneath $0.45.
In different phrases, the great outcomes of the primary two and a half months of the 12 months have turned out to be only a flash within the pan.
Nevertheless, the image improves barely if the evaluation is prolonged to 2023.
Certainly, final 12 months it began at $0.24, then rose to $0.6 because of the end-of-year bull run.
So for Cardano, 2023 has been a clearly constructive 12 months, whereas as an alternative 2024 is presently proving to be disappointing.
The very fact is that, regardless of the continued bull run, it has by no means managed to rise above the $0.9 it had earlier than the Terra/Luna implosion, a lot in order that the present value continues to be -85% in comparison with the all-time highs of 2021.
Even the truth that the underside of the bear market of 2022 was reached on the finish of 2023 doesn’t shed a very good mild on the medium-long time period pattern of this cryptocurrency.
