Digital currencies had a phenomenal year, and a great deal of the crypto assets in existence reached all-time high (ATH) prices against the world’s fiat currencies. However, the same digital currencies that tapped ATHs last year are currently down a great deal in value, as numerous cryptocurrencies have lost 30% or more since 2021’s price highs.
Crypto Values Are Lower Than Last Year’s Price Highs
As many blockchain networks increased in value and billions of dollars were added to alternative digital economies, 2021 was an excellent year for crypto assets. Bitcoin (BTC), broke the previous ATH at the end 2020 when it surpassed its $20K per-unit zone.
BTC’s price continued to rise higher into 2021 and eventually, it tapped a high of $64K per unit. The bitcoin price soared to $69K on the 10th of November 2021. However, it is now 39% less.
Today, a multitude of crypto assets, including BTC, are on the same page as BTC. While they have reached ATHs sometime last year, many others have seen their fiat values drop by at least 30%. Ethereum’s (ETH) value skyrocketed to an ATH sixty days ago touching $4,847 but has since lost 35.46%.
Binance coin (BNB) hit an ATH last year but it was eight months ago and today, it’s 34% down from the $689.92 per coin price it once held. SOL (solana) was at its peak of $258.93 two months ago. Today, SOL is 47% lower.
There are many ways to offset losses, including different percentages and time frames.
Many of the most prominent crypto assets in terms of market cap have experienced varying percentage losses since their 2021 expiry dates. Cardano (ADA) is at 62.78%, having reached $3.10 per token four months prior.
Some crypto assets take longer or shorter periods of time since reaching their ATHs. Xrp, for instance (XRP), is the only leader that has not reached an ATH since last year. The digital currency xrp reached its ATH at $3.30 per coins four years ago.
The Polkadot DOT (Polkadot) reached an all-time peak two months ago at $54.98 per coins. It is currently down 55.9%. Meanwhile, Terra’s (LUNA) ATH is much closer as LUNA tapped its ATH 16 days ago when it hit $102.63 per unit. LUNA is down 29.51% from the crypto asset’s ATH.
Many crypto assets are falling below the top 10, but some have managed to stay high. Near protocol (NEAR), which reached an ATH at $17.52 per unit on 7/22/2017, is down only 6.96%. The crypto asset Unus Sed Leo, Bitfinex (LEO), is down only 9.75% compared to eight months ago.
How do you feel about crypto assets in the top 10 and their distance from all-time highs?
Credits for the imageShutterstock. Pixabay. Wiki Commons
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