2022 has arrived and the crypto currency market has seen a drastic drop in value of around $1.486 trillion to the US dollar over the past 12 months. As of December 2021, Bitcoin was trading at $46,406 and has lost more than 63% in value since then, while ethereum lost 69% against the dollar in the same time frame.
Top Ten Cryptocurrencies From 2021 Lose Billions As Some Play Musical Chairs
Exactly 365 Days Ago on December 2021, the crypto economy was worth $2.334 trillion. By December 2022, that value had dropped to $848 billion. At its peak, Bitcoin (BTC) was worth $46K per coin, while Ethereum (ETH) was trading at an estimated $3,847 per unit. The 24-hour trading volume was also higher that expected, reaching a high of $118 billion.
By June 2021, the top 10 crypto-coins had changed significantly. The top 10 included Bitcoin (BTC), Ethereum (ETH), BNB/BNB (SOL), USDT (USDT), USDT/USDT), solana/SOL), USDC (USDC), usd coin/USDC), XRP (XRP), and cardano/ADA Terra (LUNA). Avalanche (AVAX), was also in the top 10 at the time.
By December 2022, the top ten tokens had changed yet again, with new coins entering the market and some being removed. The top ten currently include Tether (USDT), USDC, and BUSD, which made its first entry into the top 10 in June 2022. Other coins in the top 10 include Polygon and Dogecoin.