Value evaluation of crypto Litecoin (LTC), Avalanche (AVAX) and Solana (SOL)

In the present day we analyze the variations within the value tendencies of LTC (Litecoin), AVAX (Avalanche), and SOL (Solana) in opposition to the 2 fundamental crypto

Today we analyze the variations in the value trends of LTC (Litecoin), AVAX (Avalanche), and SOL (Solana) as opposed to the 2 main cryptos.

Value analysis of crypto Litecoin (LTC), Avalanche (AVAX) and Solana (SOL)

Litecoin has been struggling for a long time now.

If compared to the start of the year the price of Bitcoin is still at +29%, and Ethereum is still in line with the value it had at the end of 2023, LTC instead is even at -17%.

It must be recalled that last year there was the halving of Litecoin, given that it is a cryptocurrency still based on proof-of-work like Bitcoin.

LTC has dropped to 4.5 billion dollars in market capitalization, which has caused it to plummet to the 19th place in the ranking of the top cryptos by capitalization.

Litecoin was once second only to Bitcoin, as it was born back in 2011 as a transactional alternative to BTC.

Furthermore, even though the all-time high price peak was reached in 2021, above $410, that peak was only slightly higher than the peak of the previous cycle, recorded back in 2017.

So in reality it has been struggling for years, so much so that during the last speculative bubble it was not able to do significantly better than it did during the previous bubble.

In the bear-market of 2022, its price fell even below $45, and last year, due to the anticipation of its halving, it rose to just over $100. After a decline at the end of the year, at the start of 2024, it returned above $100, but since mid-April, it has started a drop that seems to be still ongoing.

At the moment its price is around $60, which is not much higher than the bottom of the last bear-market, but 85% lower than the all-time highs of three years ago.

In the short term, the situation does not appear good at all, even though in the medium/long term it will certainly have some chance of bouncing back.

The trend of the price of Avalanche (AVAX)

A very different discussion is the one that concerns Avalanche.

In fact, AVAX is a much younger cryptocurrency, which up until now has gone through a single major bull run.

Moreover, it is 12th overall in terms of market capitalization.

Despite this, since the beginning of the year it has been losing far more even than LTC, with a -39% that puts it kind of on the same level as Cardano, from this standpoint.

After reaching its all-time high at 146$ in 2021, it experienced a major drop with the implosion of the Terra/Luna crypto ecosystem, after which it fell further after the collapse of FTX.

The decline was so vast and noticeable that in fact its bear-market continued until October of last year, when it fell even below $10.

Starting from November, however, it recorded a major rebound, concluded shortly after mid-March 2024 above 60$.

Since then, it has started a long decline that seems to be still ongoing.

The current price of around $23 is certainly more than double the bottom of the bear-market of 2022/2023, but it is also just a bit over a third of this year’s annual high. Moreover, it is still 84% lower than the all-time high of three years ago.

Avalanche, however, is a project closely tied to DeFi, so it is also mandatory to observe its TVL.

The problem seems to lie precisely in the fact that, after the peak of over 11 billion dollars in 2021, its TVL during the bear-market plummeted even below 500 million, only to rise not a lot to the present 880 million dollars.

In such a situation, there don’t appear to be realistic possibilities of a major rebound in the short term, even though in the medium/long term the potential would be there.

The trend of the price of Solana (SOL)

Still different is the discussion that concerns Solana.

To tell the truth, SOL is, together with BNB and TON, one of the few altcoins that seem to have the potential to move within the crypto markets even independently of BTC and ETH. However, they can still achieve this only sporadically.

Solana is the fifth cryptocurrency in the world by market capitalization, but it is undoubtedly close to the one that precedes it (BNB). Moreover, if stablecoins are excluded, it is really close to 3rd place, given