- Some of the worst performing cryptocurrencies fell more than 90% in 2022 as fraud and scams plagued the industry.
- The FTX implosion in November was the latest shoe to drop that led to a downward swing in cryptocurrency prices.
- These were the 10 worst performing cryptocurrencies in 2022, according to data from CoinMarketCap.
2022 was a very difficult year for crypto investors. In fact, it was the polar opposite of 2021, when various cryptocurrencies hit all-time highs and the total market value of the space hit $3 trillion.
Today, the total capitalization of the crypto market has plummeted to just under $800 billion as investor confidence hits new lows.
A handful of scams, frauds, and platform crashes fueled a sharp downward spiral in the prices of almost all cryptocurrencies. More recent, the fall of FTX and the founder Sam Bankman-Fried sparked another sell-off of major tokens like bitcoin and ether.
Other failures in the crypto space in 2022 included the implosion of TerraUSD and Luna, the bankruptcies of Voyager Digital and BlockFi, and the reduction of leverage through various explosions of crypto hedge funds, as The capital of the three arrows.
The damage in the industry was so widespread that the best-performing crypto with a market valuation of at least $1 billion was a token that broke even in 2022, according to data from CoinMarketCap.
Some popular cryptocurrencies that have fallen below the $1 billion market capitalization threshold include Terra Classic, which is down 99%, as well as Helium, Axie Infinity, and The Sandbox, all of which are down more than 93% in 2022. .
These are the 10 worst performing cryptocurrencies of 2022, according to data from CoinMarketCap. The list excludes tokens that have a market value of less than $1 billion.
10.Cardano
coinmarketcap
Ticker: ADA
Losses 2022: -82%
Market value: $8.3 billion
9. Internet computer
coinmarketcap
Ticker: ICP
Losses 2022: -84%
Market value: $1.1 billion
8. Moles
coinmarketcap
Marker: DOT
Losses 2022: -85%
Market value: $4.9 billion
7. Chronos
coinmarketcap
Listing Code: CRO
Losses 2022: -90%
Market value: $1.4 billion
6. Avalanche
coinmarketcap
Ticker: AVAX
Losses 2022: -91%
Market value: $3.3 billion
5.Algorand
coinmarketcap
Ticker: SOMETHING
Losses 2022: -91%
Market value: $1.2 billion
4. Filecoin
coinmarketcap
Ticker: FIL
Losses 2022: -92%
Market value: $1.0 billion
3. FENCE protocol
coinmarketcap
Marker: NEAR
Losses 2022: -92%
Market value: $1.1 billion
2. HEX
coinmarketcap
Marker: HEX
Losses 2022: -93%
Market value: $3.2 billion
1. Solana
CoinMarketCap
Key: SUN
Losses 2022: -95%
Market value: $3.5 billion
