Crypto Market Top Four Losers of 2022
As the year comes to an end, we look back at how most assets performed. Further research as it that it is hard to find assets that gained up to 10% during the period under consideration.
This bad sentiment is affecting the global cryptocurrency market cap. We are also seeing a gradual drop in One of the slowest declines in the market worth of all cryptocurrencies was below $800 billion. The market valuation gradually decreased over the last three days without a significant increase in trading volume.
Looking at the chart, we could see that there was a clear downward trend over this time. However, as the year comes to a close, we can anticipate that the value will continue to gradually decline since most traders will be away from the market.
For the majority of traders, 2022 was a rollercoaster experience because they weren’t prepared for the kind of turmoil it would bring. The mistakes were numerous. The graphic below provides a visual representation of what happened during the time frame in question.
The market was shaken by so many negative developments, which resulted in a sharp decrease in the sector’s worth. It started the year at $2.25 trillion, but as of this writing, it was only worth $798 billion. This is a blatant sign that the sector has declined by approximately 65%.
This also means that more than 60% of the value of the majority of cryptocurrencies was lost. More information is provided by the picture below. We saw that the majority of the assets are tinted gray or red, which denotes losses (not decided).
Looking at the above graph reveals that popular coins like Bitcoin and Ethereum lost more than 60% of their value. In addition to these assets, numerous altcoins had large price declines over the time period under examination.
Most of these cryptocurrencies are down more than 50%, and several are down even more. Let’s examine the top losers over the previous 364 days.
1. Solana (SOL)
In 2021, Solana was among the brightest coins. It was known as the “Ethereum Killer” and endangered the majority of the top 10 assets. Following a positive close the previous week, it was added to most investors’ watchlists.
It sparked curiosity for 363 days despite making several press appearances. It made various enhancements to its community and ecosystem while generally being bullish. In March, it made one such adjustment by collaborating with PUBG to develop blockchain games.
The Solana testnet withstood 13,000 TPS in August, which led to another significant announcement. It also passed 3,400 validators, making it the most “decentralized” system. A-listers like SBF and the co-founder of Polygon were among those who became interested in SOL.
Given that it might end 2022 with its largest losses ever, all of these reports have a relatively little long-term effect on the asset. The adverse effect on the altcoin, which is currently down more than 90%, cannot be overstated.
The monthly graphic provides greater insight into what happened. The subject asset had a dismal start to the year, losing more than 40% in January. A closer look at the charts revealed that it had two straight greens.
2022’s biggest spike occurred in July. SOL increased by more than 25%, gaining more as the month came to an end. Only three of the year’s twelve months produced meaningful advances. A doji was used to represent February.
The coin fell more than 50% in November, which was the most bearish month. There is currently a more than 33% decline, and a late recovery is not in the cards.