Since the start of 2022, the crypto market has descended additional into the bear market. The present bitcoin cycle low was hit again in June 2022, and its value is just about 11% up from that time. Through the bear market, there have been some cryptocurrencies which have held up higher than the others. This report takes a take a look at the highest 10 digital belongings by market cap and the way they’ve accomplished since then.
Performance Of The Top Crypto
The top 10 cryptocurrencies by market cap have carried out fairly nicely in comparison with their smaller counterparts however they’re nonetheless down by a big margin. This is excluding the three stablecoins that are pegged to the US greenback and have managed to keep up their peg by means of this time.
The remaining seven cryptocurrencies have seen various levels of efficiency. However, BNB has been one of the best performer out of all of them. Even although it’s the fifth largest by market cap, it has accomplished a greater job of holding on to its worth with solely a couple of 60% decline from its all-time excessive. Even extra spectacular is that regardless of being 60% down, it’s nonetheless 47% up from its cycle low.
Bitcoin ranks second on this regard as it’s down 71.57% from its all-time on the time of this writing. The largest cryptocurrency by market cap had hit a brand new peak of $69,000 again in November 2021 and is now trending round $19,500 on the time of this writing.
Ethereum is available in third place with a 72.65% decline from its all-time excessive of $4,800. The second-largest digital asset had an unbelievable 2021 with the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs). It is, nonetheless, up 47% from its cycle low of $897.
Total market cap under $900 million | Source: Crypto Total Market Cap on TradingView.com
XRP ranked 4th within the checklist of belongings that had held up their worth finest with an 85.85% decline from its all-time excessive worth. However, not like the others on this report, the XRP value didn’t hit a brand new all-time excessive in 2021. Its ATH value of $3.30 was recorded again initially of 2018. XRP’s development was enormously derailed by Ripple’s courtroom case with the SEC which is but to be concluded.
Cardano and Solana are two networks which are robust opponents of the Ethereum community, they usually each are tied by way of how nicely they’ve held their worth. Both ADA and SOL are down 88% from their all-time excessive costs in 2021. But whereas SOL is up 17% from its cycle low, ADA is down 7% from its cycle low.
The final on this checklist is the meme coin Dogecoin. DOGE had seen a powerful rally following the assist of billionaire Elon Musk however as soon as the hype died down, it wasn’t lengthy till the worth of the digital asset had declined quickly. It is at the moment down 91.96% from its all-time excessive value of $0.7 again in May 2021. This makes it the worst performer of the highest 10 cryptocurrencies by market cap.
Despite the declines that these digital belongings have seen available in the market, these high cryptocurrencies are nonetheless thought to be a protected guess by traders on account of their prominence and enormous communities.
Featured picture from The Economic Times, chart from TradingView.com
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