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Grayscale, the largest crypto asset management firm, has spotlighted Shiba Inu among the biggest crypto projects by market capitalization, ranking alongside Bitcoin and Ethereum.
In a post on X on Thursday, Grayscale called attention to a crypto asset snapshot that featured the leading tokens in the market. Given its approximately $10 billion market share, Shiba Inu was featured in Grayscale’s crypto asset spotlight.
Shiba Inu in Grayscale Crypto Snapshot
The snapshot captured data on the top ten crypto assets’ weekly, monthly, yearly, and year-to-date returns. Six assets, including Bitcoin, Shiba Inu, and XRP, posted negative weekly returns. Meanwhile, Solana, Toncoin, and Tron saw substantial positive gains, making them the best performers in the market between June 19 and 26.
However, on a monthly scale, most featured assets lost a significant percentage of their values, except Toncoin and Tron. Conversely, Shiba Inu investors witnessed the most significant loss as the SHIB price crashed by 34.8% between May 26 and June 26.
Investors of Dogecoin, Shiba Inu’s closest competitor, also witnessed a 24.9% monthly loss. Binance Coin (BNB) had the lowest monthly depreciation, as its value only reduced by 3.7% during the observed timeframe.
📸 Grayscale Crypto Snapshot – Assets
–#bitcoin #ethereum $BNB $SOL $XRP $TON $DOGE $ADA $TRX $SHIB pic.twitter.com/be7S4a5o5i
— Grayscale (@Grayscale) June 27, 2024
Notably, these leading assets have mostly returned negative over the past month because it has been one of the most challenging periods, during which Bitcoin exhibited much instability. Meanwhile, observing their performance on a yearly scale suggests they prove to be worth investment instruments.
Shiba Inu Among Best Performers on Yearly Scale
In particular, all ten assets featured on Grayscale’s snapshot, including Shiba Inu, posted positive returns since last year. Solana, Toncoin, BNB, and SHIB are the most outstanding on the list.
SOL has grown 822.8% since last year, while TON witnessed a 460.7% gain. Likewise, BNB and Shiba Inu advanced by 151.11% and 140.4%, respectively. Notably, Bitcoin and Ethereum posted yearly returns of 105% and 88.3%, respectively.
XRP was the least favorable investment vehicle, as its growth since last June amounted to just 1.6%. Moreover, while all ranked assets have notable YTD returns, XRP and Cardano show negative growth of 23% and 34.6%, respectively.
Grayscale Crypto Spotlights
Notably, Grayscale created this snapshot to give the public an illustrative view of the crypto asset market. This is not the first time the firm has made such an effort.
In December, Grayscale sponsored a crypto watch on CNBC TV that spotlighted the market values of Bitcoin, Ethereum, and XRP. Grayscale orchestrated the move shortly before its application to list a Bitcoin spot ETF was granted.