In 2021, the main crypto assets such as bitcoin, ether or Shiba Inu were trading at record prices. Bitcoin, for example, was valued at $69,000, and ether at over $4,000. Those were the good old days, some would say. At the moment, these crypto currencies are struggling to scale highs. Skeptics will be happy not to have set foot in this universe where volatility reigns supreme.
9 out of the top 12 cryptos in the red
According to bitcoin.com, most major crypto assets have lost between 70-90% of their value since their respective ATH in November 2021 (or much earlier). To say that 9 months ago, everything seemed to be going well for cryptocurrencies. Indeed, the crypto economy was valued at $2.34 trillion at that time. 9 of the top 12 cryptocurrencies have seen their prices revised between 70-90% since then.
On November 10, 2021, the King of Crypto traded at $69,044 apiece. Currently, it has lost almost $50,000, to value itself at $19,202.83, according to CoinGecko. Or about 72% less compared to its ATH.
Many expect ethereum to return to its all-time high from the same time of $4,878 per unit. Granted, the blockchain has seen an upgrade, The Merge, capable of propelling ETH to the moon again, but, right now, 1 ETH equals $1,295.15. Basically, the crypto currency backed by Vitalik Buterin lost over 73%.
Tether (USDT) and USD Coin (USDC)
Tether and USD Coin are both stablecoins, one issued by Tether Limited and the other by Circle. As they are part of the so-called “stable” currencies, they very rarely suffer from a dollar de-peg. This is not the case of TerraUSD (renamed TerraClassicUSD) which, against all expectations, lost its parity to the dollar. It is currently trading at $0.031924 per coin.
Positioning itself as the 5e The world’s most valuable cryptocurrency, BNB is currently valued at $284.54. This puts its price at -58.3% of its ATH on May 10, 2021, during which it traded at $686.
2021 has not been a very smooth year for XRP, as its ATH is dated January 7, 2018. Despite some twists, this crypto currency is offered at $0.445205 per unit at the time of writing. This article.
Binance USD (BUSD)
Binance’s stablecoin jealously guards its position as 7e cryptocurrency, with a market capitalization approaching $20 billion.
Cardano has been making a lot of headlines lately knowing that it has proceeded to hard fork Vasil. At the moment, the ADA is struggling to regain its ATH of September 2, 2021, when the coin was trading at $3.09. CoinGecko clarifies that currently the unit of ADA is selling at $0.423025. That is a revision of minus 86%.
On November 6, approximately 11 months ago, the SOL was close to 259 dollars. Right now, its price is $32.36, which is about an 87% drop from its ATH.
The DOGE really suffered during the bear market: its price fell 91% since its ATH on May 8, 2021. At the time, a DOGE was valued at $0.731. Although much loved by Elon Musk, this memecoin has a long way to go before it returns to this level. Indeed, to date, its price is $0.060186.
On November 4, 2021, the DOT also experienced its own ATH, to trade at $54.98. Investors fond of this cryptocurrency will have to wait a little longer before it recovers from this 88% drop. Knowing that to date, the corner is valued at 6.26 dollars.
Shiba Inu (SHIB)
Although highly appreciated for the seriousness of its developers, the Shiba Inu is slow to find its way back to 1 cent. The ATH for October 28 showed a SHIB at $0.00008616. However, at the moment, it is selling at 0.000 011 11 dollars, or 87% loss. While some analysts believe that the Shiba Inu will totally disappear this year, the ShibArmy sees the launch of the Shibarium, Shiba Eternity, Shib: The Metaverse, etc., as levers capable of eliminating additional zeros in the valuation of the SHIB .
Never sell low!
These troubled times can cause panic among crypto investors. Especially when malicious people take the opportunity to siphon off assets here and there, when unfortunate traders decide to give up everything because of huge losses, etc. But it is worth mentioning that only HODL, naturally dictated by patience, can help out of this quagmire. The bull run which seems to be late will certainly come.
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