It’s no secret that 2022 has been a pretty rough year for the crypto market. The industry has been hit with everything from crashes to bankruptcies, to fraud allegations, massive fines and layoffs.
In turn, the industry’s total market cap also took an enormous hit, down to $844 billion as of December 25 2022. Far gone are the days (November 2021) when the value of the cryptocurrency market hit $3 trillion.
Let’s take a look at how the 10 largest cryptocurrencies by market cap fared so far this year. (All data as of Dec. 25, 2022.)
1.) Bitcoin (BTC)
Current Price: $16,812.46
So far this year, Bitcoin – the No. 1 asset in terms of market cap – has fallen 75% from its Nov. 10, 2021, all-time-high of $68,789.63, according to CoinMarketCap data. Its market cap stands around $331 billion, a far cry from its largest market cap of $1.28 trillion, in November 2021.
2.) Ether (ETH)
Current Price: $1,219.26
Ether is also down a whopping 74% from its Nov. 16, 2021, all-time-high of $4,891.70. Its market cap also took a hit, standing at $157 billion, compared to its all-time high of $571.67 billion on Nov. 9, 2021.
3.) Tether (USDT)
Current Price: $1
Tether is down 24.4% from its July 24, 2018, all-time-high of $1.32. Its market cap stands at $65 billion, down from its all-time high market cap of $83 billion in May 2022, according to CoinMarketCap data.
4.) Binance Coin (BNB)
Current Price: $245.31
BNB, at $245, is down 64.2% from its May 10, 2021, all-time-high of $690.93. It has a market cap of $40 billion, also down from its all-time high market cap of more than $109 billion in November 2021.
5.) USD Coin (USDC)
Current Price: $1
Stablecoin USDC is down 57.4% from its all-time-high reached in November 2021. Its market cap also fell from $55 billion in June 2022 to $43 billion, according to CoinMarketCap data.
6.) Binance USD (BUSD)
BUSD, at $1, is down just 13.3% from its March 13, 2020, all-time-high of $1.15.
Its market cap suffered less than other coins too at $22 billion from its all-time-high of more than $17.5 billion, according to Coingecko.
7.) Ripple (XRP)
Current Price: $0.353259
XRP, the coin powering the Ripple ecosystem, has taken a massive hit. At $0.395, it’s down 89.6% from its January 7, 2018, all-time-high price of $3.40. Its market cap similarly took a huge hit, down to $17.8 billion, from its all time-high of $130 billion, in January 2018, according to CoinMarketCap data.
8.) DogeCoin (DOGE)
Current Price: $0.077316433704
The celebrity-endorsed coin, at $0.07, is down 89.4% from its all-time-high of $0.73 reached on May 8, 2021. Its market cap stands at $10.6 billion, far off its all-time-high of $82 billion, in May 2021, according to CoinMarketCap data.
9.) Cardano (ADA)
Current Price: $0.259790
ADA is down 89.5% from its $3.10 all time-high, reached on September 2, 2021. While it’s all-time-high market cap stood at more than $94 billion in August 2021, it trickled down to $11.2 billion, according to CoinMarketCap data.
10.) Polygon (MATIC)
Current Price $0.797495
Polygon/Matic is down 72% from its all-time-high a year ago, at $2.92 on Dec. 27, 2021. Similarly, its market cap is down to $7.1 billion, from its $19.5 billion all-time-high also reached in December 2021, according to CoinMarketCap data.
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