The market cap of widespread cryptocurrency Solana SOL/USD and meme coin Shiba Inu SHIB/USD has slipped under that of Dogecoin DOGE/USD relative Litecoin LTC/USD.
What Occurred: On the time of writing, LTC was at 13 when it comes to market capitalization, whereas SHIB ranked 14th within the checklist and SOL was at 16, in accordance with CoinMarketCap’s prime 100 checklist of cryptocurrencies.
See Additionally: Best Cryptocurrency to hedge against inflation
SOL started the 12 months buying and selling at $178.89 and with a market capitalization of $55.09 billion. It was as soon as thought of an Ethereum ETH/USD killer. The crypto winter and the collapse of Sam Bankman-Fried‚s FTX FTT/USD despatched shockwaves all through the crypto market, which consequently drove down the worth of SOL to $13.04, down 92.71% from its value in January 2022.
At this time, SOL is buying and selling at $13.04 with a market cap of $4.73 billion.
SHIB began the 12 months buying and selling at $0.0000473, with a market capitalization of $18.35 billion. The FTX contagion plunged SHIB to 0.000009024, down 80%.
Worth Motion: On the time of writing, LTC was buying and selling at $78.78 up 27% prior to now 24 hours, according to Benzinga Pro.
Learn Subsequent: Cathie Wood Reiterates $1M Price Target For Bitcoin: ‚Sometimes You Need To Go Through Crisis To See Survivors‘