2022 is quickly approaching and the cryptocurrency market has experienced a decrease in value of over $1.486 trillion against the US dollar over the past year. As of December 2021, Bitcoin was trading at $46,406 per coin. It has declined by 63% against the dollar over the past year, and 69% versus the US dollar.
Top 10 Cryptocurrencies Shed Billions in 2022 as Some Tokens Play Musical Chairs
At the end of 2021, the crypto market had lost a total of $1.486 trillion in the past 12 months, dropping from $2.334 billion to $2.334 trillion. December 2022 Value $848 Billion
On December 20, 2021, the 24-hour trading volume was much higher than expected at $118 trillion. However, it has since decreased by half, with swaps now being worth $48 billion. Last An estimated $3,847 per unit was the value of ethereum in 2021.
As a result, several new tokens have been added to the top 10 in place of those that have been taken out. The The top ten crypto market caps for 2021 include bitcoin (BTC). Ethereum (ETH), BNB/BNB (BNB/BNB), tether (USDT). Solana (SOL), USDC. USDP, USDC. [XRP], cardano ADA, Terra (LUNA) & Avalanche (AVAX), respectively.
The cryptocurrency economy has suffered a major blow in the last 12 months, losing $1.486 trillion of its market capitalization. This was attributed to the major losses of the top 10 tokens, with the likes of Terra (LUNA) and Solana (SOL) plummeting by 93.2% and 89%, respectively.
Meanwhile, Dogecoin (DOGE) saw an increase in its market value, going from $21.78 billion to $10.22 trillion in the past year. With Polygon (MATIC) being the only coin to make it to the top 10, BUSD stablecoin helped to boost its market price.
In terms of market dominance, Bitcoin (BTC) remained stable at 38.3%, while Ethereum (ETH) saw a slight increase from 20.2% to 17.3%. BTC’s hashrate hit an all-time high of 347.16 exhash/minute (EH/s) in November 2022, with a mining difficulty of 36.95 trillion in November 20, 2022. On the other hand, Ethereum transitioned from proof of work (PoW) to proof-of-stake (PoS) in September 15, 2022.
Are you interested in the changes in crypto currencies over the past 12 months? Let us know your thoughts in the comments below.
