At present, the crypto market is actually dominated by Bitcoin and Ethereum, however there are others which can be recording fascinating actions. They’re SEI, BNB, and SHIB (Shiba Inu).

Traits in digital currencies SEI, Binance Coin (BNB), and Shiba Inu (SHIB)

SEI is a digital forex that was simply launched in August final yr.

It wasn't current out there over the last huge bull market, so it's at present close to all-time highs.

Absolutely the excessive was recorded final month above $0.87, however the present value of $0.83 is just not far off.

What’s fascinating is that in October, earlier than the beginning of the 2023 crypto market mini-bull market, the worth of cryptocurrencies was lower than $0.1, so it has registered a rise of just about +900% in just a few months.

Nevertheless, this rise stopped in January, falling under $0.6 by the tip of the month.

So, in February, we recorded an extra +40%.

Be aware that the value at launch was $0.18, which was larger than the value at which the bull market began in October. In different phrases, after a dip within the first few months of its market debut, there was an unimaginable increase on the finish of the yr.

However the issue now could be that the large increase has already occurred. In reality, for instance, Bitcoin is reaching its highest value for the reason that starting of the yr, however SEI has not but been in a position to make a brand new excessive in current days.

The truth that it skilled a 30% retracement in January after the late 2023 bull market means it’s a very unstable crypto asset and is probably going nonetheless dominated by pure hypothesis. is clearly proven. In such circumstances, an increase is usually adopted by a big fall, so watch out.

Evaluation of Binance Coin (BNB)

The state of affairs is totally completely different within the case of BNB, or Binance Coin.

Being the native cryptocurrency of the BSC (Binance Good Chain) community, it’s intently tied to the destiny of the world's largest change.

Because of Solana's increase on the finish of 2023, it misplaced its third place among the many cryptocurrencies with the best market capitalization (excluding stablecoins) and was changed by SOL.

For instance, Bitcoin is up +21% year-to-date and Ethereum is up +20%, whereas BNB is just up +6% and Solana is +13%.

In different phrases, BNB has been struggling a bit in comparison with different main cryptocurrencies for a while now. It’s true that it faces stiff competitors from SOL.

BNB's present value is round $330, which is according to its value on the finish of June 2022 after the Celsius chapter. Nevertheless, it’s nonetheless nicely under the $400 it was on the finish of April of the identical yr, earlier than the Terra/Luna implosion.

In actuality, 2023 wasn't a very good yr for BNB.

The low level of the current bear market was under $200 in June 2022, however nearly a yr and a half later, in October 2023, the value was nonetheless under $210.

The final mini-bull market on the finish of 2023 peaked at $331, however the present value is the best since Might of final yr and has risen 57% in simply over three months.

This can be a pretty low proportion in comparison with different main cryptocurrencies throughout the identical interval, however essentially the most shocking factor is that its present worth is decrease than final yr's $348.

In the mean time, there doesn't appear to be any clear signal of a pattern reversal, so BNB could proceed to undergo a bit, particularly as a consequence of competitors from Solana.

SHIB (Shiba Inu)

One other story is the one informed by SHIB, the token of the Shiba Inu Crypto Mission.

At present, its market capitalization has fallen to seventeenth place, having used up the sensational power that introduced it to the highest 10 in 2021.

The worth of SHIB has not moved a lot in current months. It stays a unstable and speculative asset, however paradoxically it has develop into much less unstable in comparison with extra severe belongings reminiscent of Bitcoin and Ethereum.

The present value is about 9.6 millionth of a greenback, however by December 2023 it should attain 11.6 millionth.

So, whereas it rose from 88 to 9.6 million within the final week, a 9% acquire, it’s nonetheless down in comparison with the height of the earlier small bull market in December.

In reality, the present value is just not solely decrease than the value final August, but in addition considerably decrease than the 14.7 millionth of a greenback in February 2023.

Based mostly on 2022, it seems that the market worth earlier than the Terra/Luna implosion in Might was greater than 1/20 millionth of a greenback, and the present worth continues to be lower than half that.

Nevertheless, the present worth is larger than the September 2021 worth and solely a lot decrease than the 2 peak values. These two peaks (Might and October 2021) have been brought on by an enormous speculative bubble. As soon as the bubble burst, Shiba Inu's value returned to his pre-October bubble and post-Might bubble costs.

These knowledge appear to point that solely within the case of a brand new large-scale speculative bubble, SHIB might file important beneficial properties corresponding to the previous.