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Sunday, June 26, 2022

Major Cryptos Fidgety In Final Session Of Roller Coaster Year, Meme Coins Doge, Shiba Inu Stutter

Notwithstanding the lackluster phase seen since October, the cryptoverse is holding firm for the year, thanks to the strong performances in the first three quarters of the year.

Bitcoin Retreats, Most Major Cryptos Largely Unchanged: Bitcoin (CRYPTO: BTC), the apex cryptocurrency, is seen reversing its earlier gains and yet is on track to end the year with a gain of about 63%. Bitcoin hit an all-time high of $68,789.63 in early November.

Ethereum (CRYPTO: ETH), the second-most valued crypto, is modestly lower Friday, although it is up about 500% for the year.

Among other major cryptos, Avalanche (CRYPTO: AVAX), Terra (CRYPTO: LUNA), Polygon (CRYPTO: MATIC), Crypto.com (CRYPTO: CRO) and Uniswap (CRYPTO: UNI) are seen trading with modest gains Friday. 

Related Link: Is Bitcoin Dead and Ethereum Outdated? Here’s What Cathie Wood’s Ark Invest Says

Metaverse Coins Flatline: Metaverse-linked cryptocurrencies are trading flat to modestly lower after the year’s stellar gains. Sandbox (CRYPTO: SAND) is holding up, while Decentraland (CRYPTO: MANA), Axie Infinity (CRYPTO: AXS) and Gala (CRYPTO: GALA) are all lower.

Doge, Shiba Lead Meme Coins Lower: Meme cryptos Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are down about 1% and 0.5%, respectively.

The year’s scorecard for these cryptos, which have a wide and frenzied retail following, show gains of 3,550% and 3,300%, respectively. These currencies, however, have pulled back notably from their all-time highs of $0.737567 and $0.000088, respectively.

Related Link: After Kraken Listing, Robinhood Under Pressure To Add Shiba Inu: Will The Trading App Yield?

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