HomeTradingCrypto: how are Dogecoin, Tron, Polkadot and Quant doing?

Crypto: how are Dogecoin, Tron, Polkadot and Quant doing?

Today in particular we look at the recent performance of the crypto assets Dogecoin (DOGE), Tron (TRX), Polkadot (DOT) and Quant (QNT).

A focus on the crypto assets Dogecoin, Tron, Polkadot, and Quant

Since early January 2023, the crypto market has recovered, with several major, often upward movements. But not all cryptocurrencies are moving in the same way, crypto like Dogecoin (DOGE), Tron (TRX), Polkadot (DOT) and Quant (QNT) have something different.

The trend of Dogecoin (DOGE)

Dogecoin continues to be in the top 10 of major cryptocurrencies by market capitalization, although in this respect it is being closely followed by Polygon’s MATIC and OKX’s OKB.

DOGE’s price trend was once again greatly influenced by Elon Musk’s words and decisions, although in January it followed the general trend of the crypto market.

Indeed, unlike all other major cryptocurrencies its current price is lower than in December, because in the last quarter of 2022 it was heavily influenced by the news regarding Elon Musk‘s purchase of Twitter.

Musk is a known supporter of Dogecoin, so when it was discovered that Twitter was working to add payment features the price of DOGE went up. However, it then went back down when it was discovered that Twitter is working on fiat currency payments, and due to the fact that Musk did not explicitly mention Dogecoin as one of the currencies that will be made available on Twitter.

Therefore, in September 2022, the price was about $0.06, while in October it skyrocketed to $0.14 in a very few weeks.

With the failure of FTX, the price fell back to $0.07, but on 1 December it was back above 10 cents.

New Gains

However, during the same month of December, the price returned to $0.07, which is to say, it exhausted all the gains of late November and early December, but then went back up when the crypto markets recovered in January this year.

The current price of about 9 cents has yet to rise above the $0.10 of early December, and is still 87% below the all-time highs of May 2021. However, it has risen 28% in the first five weeks of the year.

It is worth noting that at the beginning of May 2022, i.e., before the collapse due to the implosion of the Terra/Luna ecosystem, the price was $0.12, i.e., not much higher than it is now, and especially lower than the peak in October.

The trend of Tron (TRX)

TRX is the native cryptocurrency of the Tron ecosystem, used to pay fees on every transaction that must be recorded on its blockchain.

Tron’s blockchain is most widely used for USDT transfers, so TRX is a token that has concrete and ongoing use.

Despite this, TRX has slipped to 18th place among the largest market capitalization cryptocurrencies, with a trend that over the medium to long term is nonetheless less volatile than that of other similar cryptocurrencies.

Indeed, the current price of about $0.06 is in line with that of October and July 2022, not much lower than the $0.08 it had in May before Terra’s collapse.

The accumulated losses from all-time highs are also smaller than for DOGE. While TRX still loses 71% from its all-time high in January 2018, compared to its peak of $0.16 in 2021, the loss is only 62%.

Before USDT landed on Tron, the price of TRX was more volatile, but as its use increased, its volatility decreased.

It is worth noting that before the start of the last big bull run, in December 2020, the price of TRX was $0.03, or half the current price.

However, it is worth not forgetting that only a few months ago, in November 2022 in conjunction with the collapse of FTX. The price of Tron’s cryptocurrency had fallen well below $0.05. Since then, its market value has increased by 41%, with the bulk of this increase occurring around mid-January 2023.

The performance of Polkadot (DOT)

Polkadot has not been among the top 10 cryptocurrencies by market capitalization for several months now. It now sails around 15th, just above TRX.

The price of DOT has not yet recovered from the bear market of 2022, perhaps partly because of an overly optimistic 2021.

It is enough to recall that in December 2020 the price of DOT was less than $5. While by November 2021, i.e., less than a year later, it had increased more than tenfold.

After approaching $55, the bear market of 2022 caused it to lose much of that value. With a descent that seems to have ended in December 2022 back below $5.

In about a year, Polkadot went from $5 to $55, and in the following year it returned to $5. In other words, in 2022 the speculative bubble formed in 2021 completely deflated, such that the post-bubble price failed to stay above the pre-bubble price.

Nevertheless, in 2023 the price of DOT recovered somewhat.

In fact, starting in early January an upward climb began that may not even have ended yet.

The current price of $6.8 is 62% higher than the December monthly low, with +9% made in the last seven days alone.

However, the early May 2022 price of $18 is still a long way off.

The trend of Quant (QNT)

QNT is Quant‘s token, and it is ranked 37th by market capitalization.

The trend of its price in 2022 and 2023 is very interesting because it is a little different from other cryptocurrencies.

It is worth mentioning that in December 2020 it was around $12, but in September 2021 it made its all-time high at $427, a gain of 3,400% in nine months.

Despite the incredible boom, during 2022 the price still never fell back far below $50, which is more than four times the starting price.

Indeed, after briefly touching $44 in June, Quant’s price rebounded to return above $200 in October.

The collapse of FTX then brought it back to $100, which, however, is double the yearly low.

It has since risen to $150 in late January, but in February began a curious descent to the current $138.

The current price is yes 67% lower than the 2021 highs, but it is still 1,000% higher than the December 2020 high.

It is therefore a token with high volatility, which while following the general trend of crypto markets has its own specific trend that sometimes leads it to behave in a slightly yet meaningfully different way.

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".