With the first half of the year over, statistics for the second quarter of 2022 indicate that the value of the crypto economy has fallen significantly, and crypto tokens in the top ten market positions have lost 30% to 60% in USD value over the last three years. month. Q2 data further shows that binance coin managed to avoid losses suffered by its competitors, and solana was the worst market performer among the top ten crypto assets by market capitalization.
Top Ten Crypto Assets Have Suffered Significant Losses in the Last Quarter
It was a crazy Q2, to say the least, as many crypto assets within the digital money economy are at much lower values than they were three months ago. During the second quarter of 2022, Bitcoin (BTC) for example, losing 42.92% of its value against the US dollar.
Statistics also show that Ethereum (ETH), the second-largest crypto asset by market cap, has lost 47.24% in the past three months. While a large part of the the crypto economy losses stem from the two aforementioned crypto assets, a wide variety of top-ranking digital currencies lost massive value.
The Binance Smart Chain Network BNBhowever, is only down 33.67% in the second quarter, making BNB the best performer during the second quarter among the top ten crypto assets. BTCThe 42% drop in was the market’s second-best performance in the top ten, while gimbal (ADA) managed to capture the third-best market performance of the top ten in the second quarter.
ADA lost 45.49% in value against the US dollar in three months. XRP lost 48.99% in Q2, while Dogecoin (DOGE) lost 48.51%. Solana (SOL) was the market’s worst performer in the top ten as it lost 59.19% in the second quarter of 2022.
Dozens of Relatively Unknown Tokens Rise, Wiped $930 Billion From Crypto Economy in Q2
Most of the top performing crypto assets in Q2 that did not make the top ten positions were relatively unknown digital currencies. The largest gains recorded in the second quarter were captured by tokens like smartofgiving (AOG), followed by pitbull (PIT) and bosagora (BOA). Q2 underperformers include bluesparrow, piedao, terra luna classic, and wrap terra luna classic.
Hundreds of coins across 13,414 crypto assets traded on 514 exchanges globally lost more than 90% of their value in the second quarter. In contrast, there are only a few dozen crypto assets that performed well compared to the hundreds of coins that lost value during the second quarter. In the past three months alone, $930 billion in USD value left the crypto economy.
What do you think of the performance of the crypto market in the second quarter? Let us know what you think about this topic in the comments section below.
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