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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 worth 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 have a look at the highest 10 digital belongings by market cap and the way they’ve completed 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 take care of their peg by this time.
The remaining seven cryptocurrencies have seen various levels of efficiency. However, BNB has been the most effective performer out of all of them. Even although it’s the fifth largest by market cap, it has completed a greater job of holding on to its worth with solely a few 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 unimaginable 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 beneath $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, in contrast to the others on this report, the XRP worth didn’t hit a brand new all-time excessive in 2021. Its ATH worth of $3.30 was recorded again originally of 2018. XRP’s progress was drastically derailed by Ripple’s court docket case with the SEC which is but to be concluded.
Cardano and Solana are two networks which can be 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 formidable rally following the help of billionaire Elon Musk however as soon as the hype died down, it wasn’t lengthy till the value of the digital asset had declined quickly. It is presently down 91.96% from its all-time excessive worth 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 prime cryptocurrencies are nonetheless thought to be a secure wager by traders as a result of their prominence and enormous communities.
Featured picture from The Economic Times, chart from TradingView.com
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