2022 is coming to an end. In a few months, the crypto-economy lost approximately $1.486 trillion in value against the US dollar. Bitcoin is trading at $46,406 on December 20, 2021, losing more than 63% in value year-to-date, while the second-largest cryptocurrency, Ethereum, has fallen 69% against the dollar last year. did.
Top 10 Cryptocurrencies Lost Billions of Dollars in 2022, Few in Their Chairs
About 365 Days Ago in December 2021 On the 20th, the crypto economy was much more valuable than it is today. $1,048.6 billion has been wiped out of the crypto economy since that date, according to 12-month statistics, as it fell from $2,033.4 billion to a value of $848 billion on December 20, 2022.
At the time, the nominal value of Bitcoin (BTC) measured in US dollars was approximately $46,000 per coin, compared to Ethereum (ETH) was priced at $3,847. per unit last year. The 24-hour global trading volume was also much higher as $118 billion was recorded on December 20, 2021.
Today, global trading volume has halved. A swap recorded on 12/20/2022.
Many tokens have moved out of the top 10 and new coins have been added. Last year’s top 10 cryptocurrencies by market cap included Bitcoin (BTC), Ethereum (ETH), bnb (BNB), Tether (USDT), Solana (SOL), USD Coin (USDC), xrp (XRP), Cardano (ADA), Terra (LUNA), Avalanche (AVAX) .
After 12 months, SOL was pushed out of the top 10, LUNA imploded and fell below 1 cent of a coin, and AVAX was also pushed out of the top 10. On December 20, 2021, there were only 2 stablecoins in the top 10, but today, for the first time ever, 3 stablecoins are in the top 10.
At that time, the top 10 stablecoin assets were USDT and USDC, and in June 2022 he had BUSD in the top 10. Dogecoin (DOGE) and Polygon (MATIC) are the newest additions to the top ten so far.
At this point last year, Tether (USDT) had a market valuation of $77.39 billion, and is now at $66.22 billion. USDC’s market capitalization has increased from $42.21 billion over the past 12 months to a market valuation of $44.43 billion on December 20, 2022.
365 days ago, BUSD had a market capitalization of $14.54 billion, today it is $18.06 billion. Besides LUNA, his two former top 10 contenders — Solana (SOL) and Avalanche (AVAX) — have suffered considerable losses over the past 12 months.
Dogecoin (DOGE) is a top 10 contender today, but had a much larger market cap when it wasn’t in the top 10. Dogecoin’s market valuation has fallen from $21.78 billion to his current $10.22 billion.
Polygon, currently the top 10 coin, also had a market cap of $14.7 billion on December 20, 2021, but today’s market valuation has fallen to $7.16 billion. The only anomaly among the few cryptocurrencies that managed to add to the top 10 and rise in market valuation was the stablecoin BUSD.
Twelve months ago, when the market cap of the crypto economy was $2.334 trillion,BTC had a dominance of around 38.4%, now it is 38.3% . BTC‘s dominance was really unwavering, while ETH‘s dominance moved from 20.2% to 17.3% last year.
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