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- As fraud and scams plagued the sector, some of the worst-performing cryptocurrencies dropped more than 90% in 2022.
- The November implosion at FTX was the latest to cause a decline in crypto prices.
- These were the 10 worst-performing cryptocurrencies in 2022 according to CoinMarketCap data.
For crypto investors, 2022 was a very difficult year. It was actually quite the opposite of 2021, which saw various cryptocurrencies reach record highs, and the total space market value hit $3 trillion.
The total crypto market capital today is $1 trillion has plunged to just under $800 billionAs investor confidence hits new lows
A few frauds, scams, and platform meltdowns have fueled a sharp downward spiral in cryptocurrency prices. Recent events include the downfall of FTX and founder Sam Bankman-FriedAnother sell-off took place in major tokens like bitcoin or ether.
Other failures in crypto space in 2022 include the implosion of TerraUSD and Luna,Voyager Digital’s and BlockFi’s bankruptcies and the unwinding leverage via various crypto-hedge fund blowups. like Three Arrows Capital.
The industry suffered so much damage, that the top-performing crypto with a minimum market value of $1 billion was actually a token that was lost in 2022 according to CoinMarketCap data.
Some of the most popular cryptos have fallen below the $1B market cap threshold. Terra Classic dropped 99% and Helium, AxieInfinity, The Sandbox all fell more than 93% between 2022 and 2022.
These are the 10 worst-performing cryptocurrencies in 2022 according to CoinMarketCap data. This list excludes tokens with a value less than $1B.
10. Cardano
Coinmarketcap
Ticker: ADA
2022 Losses: -82%
Market Value: $8.3 Billion
9. Internet Computer
Coinmarketcap
Ticker: ICP
2022 Losses: -84%
Market Value: $1.1 Billon
8. Polkadot
Coinmarketcap
Ticker:
2022 Losses: -85%
Market Value: $4.9 Billon
7. Cronos
Coinmarketcap
Ticker: CRO
2022 Losses: -90%
Market Value: $1.4 Billion
6. Avalanche
Coinmarketcap
Ticker: AVAX
2022 Losses: -91%
Market Value: $3.3Billion
5. Algorand
Coinmarketcap
Ticker: ALGO
2022 Losses: -91%
Market Value: $1.2 Billion
4. Filecoin
Coinmarketcap
Ticker: FIL
2022 Losses: -92%
Market Value: $1.0 Billion
3. NEAR Protocol
Coinmarketcap
Ticker: NEAR
2022 Losses: -92%
Market Value: $1.1 Billon
2. HEX
Coinmarketcap
Ticker: Hex
2022 Losses: -93%
Market Value: $3.2 Billon
1. Solana
CoinMarketCap
Ticker: SOL
2022 Losses: -95%
Market Value: $3.5Billion
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