Many cryptocurrencies have suffered significant losses in the last week, as the whole crypto market valuation fell by 24%. A total of 72 of the top 100 coins have fallen 90% or more, but here are the holdouts.
According to CoinGecko price statistics published by CoinGoLive, the present bear market has witnessed 72 of the top 100 tokens decline upwards of 90% from their all-time peaks.
The larger-cap coins are doing better than the majority. Nine of the top ten cryptocurrencies by market value have dropped by less than 90% during the current market collapse. Bitcoin (BTC), the largest cryptocurrency, is down 70.3 percent from its all-time high of $69,000 in November 2021. Ether (ETH) is in second place, down 78 percent from its peak of $4,878.
Others in the top ten are Binance’s BNB, Cardano’s ADA, Solana’s SOL, and Polkadot’s DOT, all of which are down between 68 and 88 percent. The stablecoins Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) are not included in the list. XRP is an anomaly, having dropped 90.56 percent from its all-time record.
The average drop from ATH for these top ten coins is 79%. The average drop from the all-time high among the top 20 coins is 81.1 percent.
With a 68.3 percent average decline from their ATHs, exchange tokens seem to be doing healthier than many other areas.
The greatest performer is Unus Sed Leo (LEO), that has only plummeted 38.87 percent and has seen “aggressive buying at lower levels” on June 13. LEO is an Ethereum-based utility token utilized to lower fees for traders on the Bitfinex exchange and trading networks run by iFinex.
The native FLEX coin of the CoinFLEX exchange is the 83rd-largest cryptocurrency. It also looks to be reasonably impervious to the severe setback, having fallen only 38.6 percent from its peak. FLEX is utilized on the trading platform to pay for trades and cut trading fees. The project attributes its price stability to its token-burning process.
KuCoin Token (KCS), the utility token for the KuCoin trading platform, has dropped 61.43 percent from its all-time high. KCS is an ERC-20 token that is used to lower exchange costs and is the native token for KuChain, the exchange’s blockchain.
However, if Cointelegraph’s June 12 projections are true, KCS might fall to more than 60% of its ATH.
Many cryptocurrencies have suffered significant losses in the last week, as the whole crypto market valuation fell by 24%, from $1.3 trillion to $996 billion. During that time, BTC declined almost 35% from $30,500 to a low of $20,216 on June 15.
BTC is presently trading at $20,486 following the Federal Reserve’s announcement of a 75-basis-point interest rate hike to fight inflation.
In addition, although being supposedly steady, stablecoins have not been impervious to declines. Many have fluctuated by 10% to 30% during 2018, including USDT, USDC, BUSD, Dai, FRAX, Pax Dollar (USDP), Pax Gold (PAXG), Compound Dai (CDAI), and Tether Gold (XAUT). TrueUSD (TUSD) deviated from its peg by 38.4 percent in 2018.
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