72 of the top 100 cryptocurrencies are down 90% or more, but these remain at the top

According to CoinGecko price data collected by CoinGoLive, The current bear market has seen 72 of the top 100 tokens fall over 90% from their all-time highs (ATH)..

Coins with larger caps perform better than most. Among the top ten cryptocurrencies by market cap, nine have fallen less than 90% during the current market downturn. Bitcoin (BTC), the largest cryptocurrency, is down 70.3% from its November high of $69,000. In second place is Ether (ETH), which is 78% down from its peak of $4,878.

Others in the top ten include Binance Coin (BNB), Cardano (ADA), Solana (SOL) and Polkadot (DOT), which are down between 68% and 88%.(excluding the three stablecoins USDT, USDCÂ and BUSD). Ripple (XRP) is the exception, down 90.56% from its all-time high.

72 of the top 100 cryptocurrencies are down 90% or more, but these remain at the top
72 of the top 100 cryptocurrencies are down 90% or more, but these remain at the top

The median drop in ATHs for these top 10 coins is 79%, while for the top 20 coins the median drop from their all-time highs is 81.1%..

Exchange tokens appear to be doing better than many other sectors, with an average decline of 68.3% from their all-time highs.

The best-performing token is LEO, which is down just 38.87% and seen “aggressive buying at lower levels” on June 13, according to Cointelegraph. LEO is the Ethereum-based utility token for the iFinex-managed Bitfinex exchange and trading platforms and is used to reduce fees for traders.

The Coinflex exchange’s native FLEX token is the 83rd cryptocurrency. It also appears to be relatively immune to the devastating hook, trading just 38.6% below its ATH. FLEX is used to pay transactions and reduce trading fees on your trading platform. The project cites its token burn mechanism as the reason for its price resistance.

Utility token for trading platform KuCoin, KCS, is down 61.43% from its all-time high. KCS is an ERC-20 token used to reduce fees on the exchange and is the native token of KuChain, a blockchain developed by the exchange.

Nevertheless, KCS could see another fall of more than 60% below its ATH if Cointelegraph’s June 12 predictions come true.

Many cryptocurrencies saw a large part of their losses in the last week in this way The cryptocurrency’s total market cap fell 24% from $1.3 trillion to $996 billion. During this time, BTC also fell about 35% from $30,500 to as low as $20,216 on 15th of June.

For now, BTC has been trading at $20,486 since the Federal Reserve announced a 75 basis point rate hike to fight inflation.

Likewise, Stablecoins weren’t immune to declines either, although they were theoretically stable. Since 2018, many have fallen between 10% and 30% at various times, including USDT, USDC, BUSD, DAI, FRAX, USDP, PAXG, CDAI, and XAUT.. TUSD saw a 38.4% deviation from its parity in 2018.

Clarification: The information and/or opinions expressed in this article do not necessarily reflect the views or editorial line of Cointelegraph. The information contained herein should not be construed as financial advice or investment recommendation. All investment and trading movements involve risk and it is the responsibility of each person to conduct their proper research before making any investment decision.

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