Price trends of Solana, CRO, Cardano and Shiba Inu

In recent days, not only has the price of Bitcoin collapsed: it is followed by Solana, CRO, Cardano, and Shiba Inu. 

The difficulties caused to the crypto markets by the FTX shutdown have impacted all cryptocurrencies a bit, although some have been more impacted and others less. 

Solana, CRO, Cardano, and Shiba Inu: crypto assets in detail

Solana (SOL)

One of those that has suffered the most is SOL, the native crypto of the Solana network. 

In fact, FTX had played a role in the development, and especially in the dissemination of the project. For Solana, the loss of FTX proved to be a financial blow. 

Right now it has slipped to 15th place overall among cryptocurrencies with the largest market capitalization, whereas until recently it was in the top ten. 

Its market capitalization is $5 billion, less than half the size of ADA (Cardano) and DOGE (Dogecoin). It is enough to think that on 5 November it capitalized over $13 billion

SOL’s price has fallen 41% in the past seven days, and is now at -94% from the highs of a year ago. 

The latter figure means that to recover a level comparable to twelve months ago it would have to do an incredible +1,500% from current values. 

Yet until 5 November, it seemed to have held up relatively well after the crypto markets collapsed in May. Indeed at that time, the price had fallen to $44, then dropped again to $28 in mid-June. By 5 November, however, it had climbed back up to $36, thus just below May’s values and well above June’s. 

Instead, the current value of about $14 is by far one of the lowest in 2022, while the annual low was recorded Monday below $12.5. 

Such levels have not been seen since March 2021, which was before the last major SOL bull run started. 

The thing is, there are doubts about its long-term resilience now that it can no longer be supported in any way by FTX. 

Crypto.com (CRO)

CRO is the cryptocurrency of Cronos, which is the blockchain created by Crypto.com. In fact, its market value is closely linked to the fate of the exchange. 

The price of CRO has also fallen a lot in recent days, due mainly to the fear that Crypto.com would follow a similar fate as FTX. This has not happened instead, but the difficulties on CRO’s price remain. 

In the past seven days, it has lost 32%, so much so that it has fallen to -93% from last year’s highs. 

However, if the current price is about $0.07, on Monday it was down to $0.056, because fear was at an all-time high after it was discovered on Sunday that there was some kind of “bank run” to withdraw funds from Crypto.com. The exchange actually held up very well to this bank run and CRO recovered slightly. 

It is worth noting that in June it was down to $0.10, so a level not much higher than it is now, and in May it was down to $0.17

The current price of CRO is higher than it was in February 2021, which was before its latest big bull run began, but not by much. 

It is worth noting that the fears that led to the collapse of the last few days seem to be dissipating, so in theory, it could also have recovery margins. Much will depend on whether Crypto.com continues to be able to smoothly sustain all the withdrawals requested by its users. 

Cardano (ADA) 

ADA, which is the cryptocurrency of the Cardano network has been holding up best. 

Its current price, $0.33, is only 10% lower than it was a week ago, perfectly in line with BTC’s losses over the same period. 

It is still a price 89% below the all-time high of September 2021, but not far from the $0.47 of May. 

Over the past few months, ADA’s losses have been relatively small, such that the current price is more than double what it was in December 2020 when it began its last major bull run

It is worth mentioning that this is not the first time that ADA has behaved a little differently than other cryptocurrencies, which is perhaps also why it suffered a little less in the last crash. 

Shiba Inu (SHIB) 

SHIB, or the Shiba Inu token, has slipped to 13th place among the largest market capitalization cryptocurrencies. 

It now capitalizes just under $5.5 billion, which is in line with SOL, while at the beginning of November it capitalized $7.5 billion. 

Thus, it is losing less than Solana, but certainly more than Cardano. 

Actually, in the last few days, it is losing only 9%, less than Bitcoin and in line with Ethereum, but in the last two weeks it has lost 28%

The current price, 9.2 millionths of a dollar, turns out to be 89% lower than the all-time high in October 2021, but higher than in June. 

In May it dropped from 21 to 10 millionths, so the current price is only slightly lower than in May. 

What is most surprising is that it is higher than that of September 2021, a level related to the decline following the first phase of the 2021 bull run. After all, in April 2021, when it began its last major bull run, the price was well below one-thousandth of a dollar, and during 2021 it was by far one of the highest-gaining cryptocurrencies. 

It is enough to mention that the current price is still 16,000,000% above the November 2020 low. 

Conclusions on the analysis of Solana, CRO, Cardano, and Shiba Inu

Although crypto markets often all move in the same direction, the positive and negative impacts on prices can also vary greatly from cryptocurrency to cryptocurrency. 

Certainly, when they collapse, they have a greater impact on the projects that are weaker at the time, such as Solana or Crypto.com, while they have lesser impacts on those projects that are not going through difficult times. 

However, things change frequently and very quickly in crypto markets, so cryptocurrencies that may be suffering today might, instead, hold up better in the future, and vice versa.