May 24, 2024

Prime 10 Crypto value losers this yr

Cryptocurrencies have suffered an enormous hit in 2022, shedding greater than $1.9 trillion in worth because the top of final yr’s rally.

Though Bitcoin was on the middle of the crypto value crash, many different cash have suffered extra extreme value drops than the world’s costliest cryptocurrency.

In accordance with information offered by Buying and selling Platforms, Solana was the largest crypto value loser in 2022, with an 83% value drop year-to-date. Right here is the listing of different cryptocurrencies which have suffered the largest hit this yr.

The 2022 crypto market crash has prompted a double-digit value drop to all main cash and thrust a highlight on hundreds of cryptocurrencies and whether or not they may survive. The world’s two main cryptos, Bitcoin and Ethereum, have misplaced 59% and 64% in whole worth year-to-date, rating sixth and seventh on the largest value losers listing.

In accordance with CoinMarketCap information, in addition to Solana, Polkadot and Cardano suffered the largest value drop in 2022.

Solana’s 83% value drop has wiped $43.5bn of its market cap year-to-date. Polkadot follows with a 78% plunge and a $20.4bn market cap drop. Cardano’s value has been slashed by 73% within the final ten months, inserting it third on this listing. Additionally, its market cap plunged by $33bn on this interval. Collectively, the three cryptos misplaced round $97bn in market cap year-to-date.

Dogecoin and Polygon spherical the highest 5 with a 65% and 67% value drop

After grabbing the traders` consideration as one of many fastest-growing cryptos final yr, Dogecoin has seen its value tumble in 2022. The CoinMarketCapa information confirmed the meme coin misplaced 65% of its worth in ten months, rating because the fifth largest crypto value loser this yr. Final week, Dogecoin’s market cap stood at $7.7bn, down from $22.8bn in January.

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With a 67% year-to-date value drop and $11.4bn wiped off its market cap, Polygon stands one place above Dogecoin. Statistics present that every one different main crypto cash have additionally seen a double-digit value drop this yr. Behind Bitcoin and Ethereum, BNB and XRP comply with with a 47% and 44% drop.

Collectively, these cryptos make up 68% of the worldwide crypto market cap, which stood at $918.6bn final week, down from $2.2trn in January.