Even though the cryptocurrency market is presently dominated by Bitcoin worth fluctuations, there are some cryptocurrencies which can be following their very own traits. Check out ATOM (Cosmos), SHIB (Shiba Inu), and ADA (Cardano).

Evaluation of digital currencies Cosmos (ATOM), Shiba Inu (SHIB), Cardano (ADA)

ATOM is the native cryptocurrency of the Cosmos ecosystem.

In principle, Cosmos is an unbiased ecosystem and shouldn’t be influenced by Bitcoin or Ethereum.

Actually, the worth pattern of ATOM is vastly influenced by the worth pattern of BTC, and to some extent by the worth pattern of ETH, nevertheless it additionally has its personal actions.

Notably, over the previous 7 days, ATOM's market worth has elevated by 12%. As compared, ETH was -3% and BTC was +0.1%.

Nevertheless, this constructive differential for ATOM has declined sharply over the previous 30 days, dropping 18% in that point.

In different phrases, simply earlier than mid-April, throughout the pre-halving retracement, the worth of the Cosmos cryptocurrency skilled a big decline, far exceeding the costs of Bitcoin and Ethereum.

Since then, it has solely recovered from $7.7 to $9.1.

However what's shocking is that though it managed to cross $14 in mid-March, the present worth is definitely decrease than the $10.6 it was originally of the yr.

So, 2024 shouldn’t be proving to be a terrific yr for ATOM thus far, as ATOM's worth remains to be down a formidable -79% from its 2021 excessive.

Suffice it to say, the present worth is even decrease than the worth final Might. It’s because even 2023 was not a terrific yr for the Cosmos cryptocurrency.

The uglier reality is that the present worth shouldn’t be a lot larger than it was in August 2020, earlier than the beginning of the final huge bull market, and it was additionally effectively under that threshold final October.

For the reason that implosion of the Earth and Moon in 2022, it seems that ATOM has misplaced all of the positive aspects from the final huge bull market of 2021 and has been unable to get well it.

SHIB (Shiba Inu) traits

Shiba Inu is without doubt one of the most vital meme cash in existence in the present day.

Though it’s a token somewhat than a local cryptocurrency, the undertaking has its personal blockchain, which is simply layer 2 of Ethereum.

The previous few months haven't been significantly joyful for SHIB both.

It has fallen 1.5% prior to now seven days and 16% prior to now 30 days.

Nevertheless, it ought to be famous that the present worth of 23 cents is considerably larger than the ten cents originally of the yr.

So whereas it was -16% over the previous 30 days, it's nonetheless +120% year-to-date.

Nevertheless, it have to be stated that 2023 was not a very good yr for Shiba Inu costs. Regardless of the beginning of the bull market in October, costs remained at 1/80,000 to 1/10,000 of the greenback. .

At the moment, it’s nonetheless down -73% from its 2021 highs, and it’s the first time in only a few years because the Terra/Luna implosion two years in the past that we noticed an enormous rally this yr. Solely as soon as. It went from lower than 10 millionths of a greenback on some days to virtually 36 millionths of a greenback, +260% in a single week.

Being a meme coin, its worth pattern has been steep, and actual rises are sometimes adopted by declines.

Furthermore, we should not neglect that different meme cash have just lately landed on the crypto market which can be performing higher than SHIB when it comes to worth.

ADA (Cardano) efficiency

ADA is the native cryptocurrency of the Cardano blockchain.

Regardless of nonetheless being one of many high 10 cryptocurrencies by market capitalization, its worth efficiency has been clearly disappointing.

It’s down 1.5% prior to now 7 days and -24% prior to now 30 days. However probably the most surprising factor is the -24% year-to-date, which makes it the cryptocurrency with the most important losses in 2024 thus far among the many high 15.

Nevertheless, not less than till April twelfth, this 2024's efficiency was not unhealthy, rising from $0.6 to $0.77, solely to drop under $0.45 in current weeks.

In different phrases, the robust efficiency of the primary two and a half months of the yr turned out to be only a flash within the pan.

Nevertheless, if we lengthen the evaluation to 2023, the state of affairs improves barely.

Actually, final yr it began at $0.24 and rose to $0.6 due to the year-end bull market.

Due to this fact, whereas 2023 was clearly a constructive yr for Cardano, 2024 is now turning out to be a disappointing yr as a substitute.

Actually, regardless of the continued bull market, Terra/Luna has not been capable of break above its pre-implosion $0.9, and the present worth remains to be -85% in comparison with its all-time excessive in 2021 . .

Even the truth that the 2022 bear market backside reached the top of 2023 doesn’t permit us to raised perceive the medium- to long-term traits of this cryptocurrency.