Statistics from the 2nd quarter 2022 show that crypto currency has suffered a significant decline in value. Crypto tokens at the top ten positions in the market have seen a 30%- 60% drop in USD value over the last three months. Binance Coin managed to escape the losses of its competition, while solana was among the worst performers in market capitalization.
The Top Ten Crypto Assets Suffered Significant Losses in the Quarter End
It’s been a crazy Q2, to say the least, as numerous crypto assets within the digital currency economy are at much lower values than they were three months ago. For example, bitcoin (BTC), lost 42.92% relative to the U.S. dollars in the second quarter.
Statistic also shows that the market capital of ethereum, the second largest crypto asset after bitcoin (ETH), has lost 47.24% in the past three months. While much of the crypto economy’s losses stemmed from the aforementioned two crypto assets, a wide variety of top-positioned digital currencies have shed massive value.
The Binance Smart Chain network’s BNB, however, is only down 33.67% in Q2, which makes BNB the best performer during the second quarter among the top ten crypto assets. BTC’s 42% plunge was the second best market performance out of the top ten, while cardano (ADA) managed to capture the top ten’s third best market performance in Q2.
In three months, ADA saw a loss of 45.49% against the U.S. Dollar. XRP fell 48.99% during Q2 while DOGE (dogecoin) dropped 48.51%. Solana (SOL) was the top ten’s worst market performer as it lost 59.19% during 2022’s second quarter.
This Q2: A slew of relatively unknown tokens rise, and $930 billion is wiped from the Crypto Economy
Most of Q2’s top-performing crypto assets that are not in the top ten positions were relatively unknown digital currencies. Smartofgiving (AOG) was the most successful token, followed by pitbull(PIT) and bosagora [BOA]. In Q2, the lowest performers were bluesparrow (Pittao), Terra Luna Classic, and Wrapped Terra Luna Classic.
Out of 13,414 coins traded on 514 global exchanges, hundreds of them lost over 90% during Q2. One hundred and fifty-six crypto assets performed better than the many coins that experienced losses of value in the second quarter. The crypto economy lost $930 million USD in the past three months.
What do you think about the second quarter’s crypto market performances? Please comment below to let us know your thoughts on this topic.
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