Shiba Inu, one of the largest crypto projects by market capitalization, has caught the attention of Grayscale, the leading crypto asset management firm. Grayscale recently released a crypto asset snapshot that highlighted the top tokens in the market, with Shiba Inu being featured due to its $10 billion market share.
The snapshot provided data on the weekly, monthly, yearly, and year-to-date returns of the top ten crypto assets. Out of these, six assets, including Bitcoin, Shiba Inu, and XRP, experienced negative returns for the week. On the other hand, Solana, Toncoin, and Tron were the best performers, showing significant positive gains between June 19 and 26.
However, when looking at the monthly scale, most of the featured assets witnessed a significant decline in value, except for Toncoin and Tron. Shiba Inu investors experienced the largest loss, with the SHIB price crashing by 34.8% between May 26 and June 26. Dogecoin, Shiba Inu’s closest competitor, also had a monthly loss of 24.9%. Binance Coin (BNB) had the lowest monthly depreciation, with its value only decreasing by 3.7% during the observed period.
It’s worth noting that these leading assets mostly had negative returns over the past month, which can be attributed to the challenging period marked by Bitcoin’s instability. However, when considering their performance on a yearly scale, they prove to be worthwhile investment instruments.
All ten assets featured in Grayscale’s snapshot, including Shiba Inu, have posted positive returns since last year. Solana, Toncoin, BNB, and SHIB have shown the most outstanding growth on the list. SOL has grown by 822.8% since last year, while TON witnessed a 460.7% gain. BNB and Shiba Inu advanced by 151.11% and 140.4% respectively. Bitcoin and Ethereum had yearly returns of 105% and 88.3% respectively. XRP was the least favorable investment, with only 1.6% growth since last June. Additionally, XRP and Cardano have negative year-to-date growth of 23% and 34.6% respectively.
Grayscale created this snapshot to provide the public with an illustrative view of the crypto asset market. This is not the first time the firm has made such efforts, as they previously sponsored a crypto watch on CNBC TV that highlighted the market values of Bitcoin, Ethereum, and XRP. Grayscale’s aim was to showcase the market before their Bitcoin spot ETF listing was approved.
Please note that this content is informational and should not be considered financial advice. The author’s views expressed in this article are personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.