The prices of the BNB, XRP, Solana and AXS crypto

The crypto markets are suffering, but not all cryptocurrencies are suffering equally: we analyze BNB, XRP, Solana, and AXS. 

Indeed, while Bitcoin is suffering only because of macro conditions in the crypto market, other cryptocurrencies starting with Ethereum are also suffering for internal reasons. 

The trend of BNB, XRP, Solana and AXS crypto assets in detail

Binance Coin (BNB)

BNB is the cryptocurrency of the Binance ecosystem, and in particular of the BNB Chain (Binance Chain) and BNB Smart Chain (BSC) blockchains. 

From 5 November until today, the price of BNB has fallen 29%, with a low for this period touched yesterday at just over $250. 

Compared to other cryptocurrencies its current price levels are not very low, because since its all-time high in May 2021 it is losing “only” 63%. For example, BTC is losing 77% and ETH almost 78%. 

In addition, BNB’s current price is well above the annual low of $197 touched in June, thanks to a sharp August rise, and a relatively small decline thereafter. 

For example, Bitcoin is at annual lows, and Ethereum is close to the June lows. 

In other words, while until June BNB’s price trend had followed those of BTC and ETH, it has gone against the trend since October. Indeed, its current price is not much lower than the price of about $270 at the end of October, while BTC and ETH are definitely below. 

It is worth mentioning that Binance could benefit in no small part from the failure of its competitor FTX, which leads one to believe that the medium- to long-term prospects for BNB may be good. 

Even more interesting is the comparison with pre-bubble levels. 

In late 2020, BNB’s price was still only $40, and after the first boom in January 2021, it rose to $300. The current price is higher than it was in early March 2021, before the second growth phase of the last big bull run. 

Among the top cryptocurrencies, BNB is the one that is doing the best right now. 

Ripple (XRP)

By contrast, there is a difference to be found in the case of XRP (formerly Ripple). 

Indeed, its price trend for almost two years now is heavily influenced by the ongoing SEC lawsuit against its parent company, Ripple

Nevertheless, its 2022 annual low remains that of June, when it fell to $0.3. 

For example, yesterday it fell only as low as $0.35, so it has been effectively lateralizing since June now. 

XRP, precisely because of Ripple’s court problems, failed to make a new all-time high in 2021, which remains the $3.4 touched in January 2018. Compared to that peak, the current level is 89% lower. 

During 2021, it only reached as high as $1.8, and compared to that level the current price is 80% lower

Thus in this bear market XRP definitely loses more than the top cryptocurrencies, but as of June, its collapse seems to have stopped. 

It is worth noting that in September, thanks to good news that had spread about the SEC lawsuit, its price was back to $0.5, but in November it was back below $0.4. 

Solana (SOL)

The price of SOL, or the Solana cryptocurrency, is one of the hot issues of the moment in the crypto markets. 

After steadily entering the top 10 cryptocurrencies with the largest market capitalization, Solana has now plummeted to 18th place, with just over $4 billion. 

The problem with the price is that it ended up breaking the $12 support as well, to the point where the current price is just over $11. 

It is enough to think that on 5 November it touched $38, so in just over two weeks since then it has lost 71%. 

This is a real meltdown that followed another meltdown, namely the one that began after the all-time high in November last year at nearly $260, and ended in June at $28. 

From June to August it recovered somewhat, then was back below $40. Whereas in recent days it has collapsed again, so that the current price is actually 95% below the all-time high. 

Nevertheless, it is a price consistent with what it was in February 2021, which was after the first rise of the last big bull run, but before the big boom in April. 

Still, it is worth mentioning that in December 2020 the price was below $2, so the crash of 2022 has not yet been able to undo all the gains of the last bull run. 

Solana has really only existed since 2020, so it would not be convenient to take that year as a reference point. In any case, 2021 began with a SOL price at $1.5, so over the long run, its price performance is still positive. 

Probably the speculative bubble of 2021 was truly too much for SOL, whose price is simply returning to pre-bubble levels. 

Axie Infinity (AXS)

AXS is the token of Axie Infinity. It is not one of the top cryptocurrencies, but it has been the talk of the town for the past year. 

Since its peak of $11.5 on 5 November, it has lost 45%, so much so that the current price is half of what it was in June. 

Indeed, compared to the all-time high of $164 a year ago, the cumulative loss is 96%. 

A similar argument to that made for Solana applies, since AXS was also born in 2020. 

Indeed, it landed in the crypto markets in late 2020, just before the last big bull run was triggered. 

In early 2021, its price was $0.5, rising to $5 in March. So in about three months, it was +900%. 

Between July and September, it made another remarkable spike, with the price rising to $83, then taking off at $164 between September and November. 

It is enough to say that the November high was 32,700% higher than the price at the beginning of the year. 

At this point, it is not at all surprising that during 2022 it is doing -96%, so much so that the current price is still 1.160% higher than the price at the beginning of last year. 

To be precise, the current price of AXS is in line with that of April 2021, which is the price after the first spike of the last big bull run. 

Thus it is simply possible that during 2022, the bubble that had begun to form in July last year after the first growth phase, has burst. 

Source: https://en.cryptonomist.ch/2022/11/22/prices-crypto-assets-bnb-xrp-solana-axs/