2022 is coming to an finish and over the last 12 months, the crypto economic system has misplaced roughly $1.486 trillion in worth towards the U.S. greenback. On Dec. 20, 2021, bitcoin was buying and selling for $46,406 and it has misplaced greater than 63% in worth year-to-date, whereas the second main crypto asset ethereum shed 69% towards the buck over the past yr.

2022’s High Ten Cryptos Shed Billions Whereas a Few Performed Musical Chairs

Roughly twelve months in the past on Dec. 20, 2021, the crypto economic system was price much more in worth than it’s as we speak. 12-month statistics point out that $1.486 trillion has been erased from the crypto economic system since that day, because it slid from $2.334 trillion to the Dec. 20, 2022 worth of $848 billion.

High ten crypto cash final yr in comparison with the highest ten this yr. $1.486 trillion has been erased from the crypto economic system over the last 12 months.

On the time, bitcoin’s (BTC) nominal worth measured in U.S. {dollars} was round $46K per coin and ethereum (ETH) was priced at $3,847 per unit final yr. 24-hour world commerce quantity was additionally a lot bigger, as $118 billion in trades had been recorded on Dec. 20, 2021.

At this time, the worldwide commerce quantity has been sliced in half, as there’s been roughly $48 billion in swaps recorded on Dec. 20, 2022. Final yr right now, the highest ten crypto market cap regarded a complete lot completely different.

(Pictured left) Solana (SOL), terra (LUNA), and avalanche (AVAX) have all been faraway from the highest ten standings. (Pictured proper) Polygon (Matic), dogecoin (DOGE), and BUSD have entered the highest ten standings.

Various tokens have been displaced from the highest ten, whereas new cash have been added. The highest ten largest crypto market caps final yr included bitcoin (BTC), ethereum (ETH), bnb (BNB), tether (USDT), solana (SOL), usd coin (USDC), xrp (XRP), cardano (ADA), terra (LUNA), and avalanche (AVAX), respectively.

In June 2022, and for the primary time in crypto historical past, three stablecoins entered the highest ten standings. USDT, USDC, and BUSD are the three stablecoins within the high ten. At this time, USDT has a market cap dominance of round 7.81%, whereas USDC’s market cap dominance is 5.24%. BUSD’s market cap dominance on Dec. 20, 2022, is 2.13% of the present $848 billion in worth throughout the complete crypto cap.

12 months later, SOL has been kicked out of the highest ten, LUNA imploded and spiraled beneath a U.S. penny per coin, and AVAX was pushed out of the highest ten standings as nicely. On Dec. 20, 2021, solely two stablecoins existed within the high ten, and as we speak — and for the primary time in historical past — three stablecoins are included within the high ten spots.

High ten stablecoin belongings again then had been USDT and USDC, and in June 2022, BUSD managed to enter the highest ten positions. New entries into the highest ten right now embody dogecoin (DOGE) and polygon (MATIC).

Terra’s LUNA, which is now referred to as luna traditional (LUNC), suffered probably the most after it was as soon as a high ten token final yr. On Dec. 20, 2021, LUNC exchanged palms for $77 per unit and as we speak it’s price $0.00013 per unit. Terra’s LUNC suffered after the blockchain’s algorithmic stablecoin terrausd (UST), now referred to as terraclassicusd (USTC), depegged from the U.S. greenback on Could 9, 2022. On Could 11, 2022, LUNC was buying and selling for simply above $1 per unit and two days later it was buying and selling for lower than a U.S. penny per unit.

Final yr right now, tether (USDT) had a a lot bigger market valuation at $77.39 billion, whereas as we speak it stands at $66.22 billion. USDC’s market cap has elevated over the last 12 months from $42.21 billion to the Dec. 20, 2022 market valuation of $44.43 billion.

twelve months in the past, BUSD’s market cap was $14.54 billion and it stands at $18.06 billion as we speak. Apart from LUNA, two cash that had been as soon as high ten contenders — solana (SOL) and avalanche (AVAX) — have suffered appreciable losses over the last 12 months.

Bitcoin’s dominance stage remained the identical over the last 12 months whereas ethereum’s dominance stage slipped from 20.2% to 17.3% this previous yr. Bitcoin’s hashrate tapped an all-time excessive in 2022, reaching 347.16 exahash per second (EH/s) on Nov. 12, 2022, at block top 762,845. Bitcoin’s mining issue additionally reached an all-time excessive in 2022, tapping 36.95 trillion on Nov. 20, 2022. Previous to Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS), the community’s hashrate tapped an all-time excessive on June 4, 2022, at block top 14,902,285, when it tapped 1.32 petahash per second. The transition from PoW to PoS occurred at Terminal Complete Problem (TTD) of 58750000000000 on Sept. 15, 2022.

Yr-to-date, SOL has shed 93.2% towards the buck and AVAX has misplaced 89% this previous yr. SOL has notched down from the fifth largest market cap to the present 18th place. AVAX was holding the quantity ten spot final yr and at the moment, AVAX is coasting alongside within the twentieth spot.

Whereas dogecoin (DOGE) is a high ten contender as we speak, it had a a lot bigger market cap when it was not included within the high ten standings. Dogecoin’s market valuation has slipped from $21.78 billion to as we speak’s $10.22 billion.

Polygon too, which is now a high ten coin, used to have a $14.7 billion market cap on Dec. 20, 2021, however as we speak the market valuation is all the way down to $7.16 billion. The one anomaly of the small handful of cryptos that acquired added to the highest ten and managed to extend its market valuation was the stablecoin BUSD.

12 months in the past, when the crypto economic system’s market cap was $2.334 trillion, BTC had a dominance ranking of round 38.4% and as we speak it stands at 38.3%. Whereas BTC’s dominance didn’t actually flinch, ETH’s dominance, alternatively, moved from 20.2% to 17.3% over the past yr.

Tags on this story

$1.486 trillion, 12 months, 2022 performances, Avalanche (AVAX), Bitcoin (BTC), bnb (BNB), BUSD, cardano (ADA), crypto belongings, crypto economic system, crypto market, Cryptocurrencies, Dominance, Ethereum (ETH), Market Caps, Market Information, Markets, new cash, Polygon (MATIC), Solana (SOL), Stablecoins, terra (LUNA), Tether (USDT), High Ten, usd coin (USDC), Xrp (XRP)

What do you consider the highest ten crypto coin adjustments over the last 12 months? Tell us what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising as we speak.

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