As the first half of the year comes to a close, statistics for the second quarter of 2022 show that the value of the crypto economy has crashed significantly, with the top 10 market position crypto tokens losing 30% to 60% in USD value over the past three months This is shown in the table below. The Q2 data further shows that Binance Coin managed to avoid the losses suffered by its competitors, while Solana was the worst market performer among the top 10 crypto assets by market capitalization.
The top 10 crypto assets suffered significant losses in the last quarter
A number of crypto assets within the digital currency economyhad a crazy second quarter, to say the least, as they are worth much less than they were three months ago. in the second quarter of 2022,Bitcoin (BTC), for example, shed 42% of its value against the USD .92% of its value against the U.S. dollar.
According to statistics, so didEthereum (ETH). The second largest crypto asset by market capitalization lost 47.24% over the past three months.26} While much of the crypto economy’slosses can be attributed to the two aforementioned crypto assets, various top digital currencies have lost large amounts of value.
Binance Smart Chain Network’sBNBhowever only lost 33.67% in the second quarter, withBNBthe best BNBof the top 10 crypto assets in the second quarter outstanding performer. BTCplunged 42%Cardano (ADA)managed to score the third best market performance of the top 10 in the second quarter.
ADAlost 45.49% of its value against the USD in three months. XRPlost 48.99% in the second quarter, whileDogecoin (DOGE) Solana (SOL)was the top 10 worst market performer as it lost 59.19% in Q2 2022.
Dozens of relatively unknown tokens rose, disappearing $93 billion from the crypto economy in Q2
Most of Q2’s top performing crypto assets not in the top 10 were relatively unknown digital currencies; the largest gains recorded in Q2 were captured by tokens such as smartofgiving (AOG), pitbull (PIT), bosagora (BOA) The worst performers in Q2 included bluesparrow, piedao, terra luna classic, and wrap terra luna classic.
Of the 13,414 crypto assets traded on 514 exchanges worldwide, hundreds of coins lost more than 90% of their value in the second quarter. In contrast, only a few dozen crypto assets performed well compared to the hundreds of coins that lost value in the second quarter. In the past three months alone,$930 billion USD worthhas left the crypto economy.
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