In the previous couple of days on the crypto markets there haven’t solely been crashes, particularly the worth tendencies of SUI, ZEC (Zcash), and a few memecoins have been attention-grabbing.
The development of the worth of SUI
SUI is the native cryptocurrency of the blockchain with the identical title.
After dropping 46% from July 22 to August 5, it recorded a big rebound.
Actually, the present worth of about $0.94 is 100% greater than the underside of simply over ten days in the past, and the day earlier than yesterday, for a quick second, it even rose above $1.1.
Nevertheless, one mustn’t get carried away by extreme enthusiasm after a +140% in every week, each as a result of there was a slight drop within the following days, and particularly as a result of the present worth is consistent with that of two months in the past.
The peculiarity of this motion lies primarily within the excessive volatility in such a short while, as a result of it went from $0.9 on July 22 to $0.5 on August 5, then climbed again to $1.1 inside every week and settled simply above $0.9 yesterday.
Certainly, the present worth is even consistent with that of the start of the yr, a lot in order that for now throughout the course of 2024 the market worth of SUI has risen solely by 20%.
Regardless of this, it had already proven excessive volatility from January to March, even reaching as excessive as 2.2$. In different phrases, from the underside in October to the height in 2024, it had recorded an unbelievable +480% in simply over 5 months.
It’s price noting that this bullrun began from lower than $0.4, so a a lot decrease degree than the present one.
Furthermore, March was additionally the all-time excessive ever, though it needs to be famous that SUI has solely existed within the crypto markets for simply over a yr.
The development of the worth of the crypto Zcash compared with SUI and different memecoins
ZEC is the native cryptocurrency of Zcash.
The development of its prezzo lately has been decidedly completely different in comparison with that of the crypto markets.
Actually, though between August third and fifth it misplaced 27%, it bounced again virtually instantly, a lot in order that simply two days later it had recovered every thing it had misplaced with that crash.
Moreover, ranging from August 8, it started a small rally that led it to document a +78% from the lows of August 5, and a +36% from the closing of July.
The very fact is that there are massive information coming for Zcash.
It’s needed, nevertheless, to make an essential clarification.
Till just a few days in the past, the 2024 of Zcash had been disappointing.
It had opened the yr at $27, down from $33 on the finish of December, and till August 7 it had not managed to exceed $35. Actually, on August 5 it had dropped to $25, and firstly of July it had even been under $16.
Furthermore, 2023 had began at $37, so it virtually had not but recorded any important rebound after the final bear-market.
Moreover, the present worth has solely returned to the extent of March final yr, and it’s nonetheless 64% decrease than it was on the finish of April 2022 earlier than the implosion of the Terra/Luna crypto ecosystem.
The thought, due to this fact, is {that a} very lengthy bear-market may need merely ended, supplied that the information concerning the updates seems to be appropriate and constructive.
In comparison with the all-time excessive of 2021, it’s nonetheless down by 99%, a lot in order that there are robust doubts about its actual restoration capability.
The memecoin
The memecoin sector as a complete just isn’t performing significantly properly for the time being.
For instance, the worth of Dogecoin is 7% decrease than it was a month in the past, and that of Shiba Inu is 20% under what it was firstly of the yr.
Nevertheless, there are some exceptions.
Within the very brief time period, the +7% of at the moment of Popcat and Turbo stand out, however above all of the +27% of Gigachad (GIGA).
The value of GIGA has not solely elevated by 30% within the final week, however even by 90% within the final 30 days. In comparison with the start of the yr, it’s recording a outstanding +1,800%.
Within the final 30 days, the unbelievable +1.500% of Neiro stands out, though it’s a very younger memecoin. Typically, minor memecoins make a splash proper firstly.
NPC (Non-Playable Coin) is as a substitute recording a very good +31% within the final month, however for the reason that starting of the yr it’s at +1,700%.
Lastly, it’s inconceivable to not point out Maga (TRUMP), which, nevertheless, regardless of nonetheless being at +1,000% for the reason that starting of the yr, is at -60% within the final thirty days.