Crypto Market Performance 2022 – The Amazement & Disaster

The digital currency market has been going through an extremely tumultuous period since the beginning of 2022, marking in the eyes of many an end to last year's crypto euphoria. The total crypto market cap now stands below $1 trillion, where most top-ranked coins like Bitcoin and Ethereum have shed more than half of their values.

Although no certain claims can still be made at this point, the crypto slump is primarily a product of the prevailing harsh economic and geo-political global conditions. Rising interest rates, inflation, mining crackdowns, stringent regulations, and many other factors have combined to trigger a broader market panic, causing investors to get rid of their risky assets.

A look at the worst-performing cryptos of 2022

The crypto disaster has made it clear that the uncertainties and unpredictability of this relatively new & volatile asset class cannot be ignored. Last year, the digital currency sphere became the center of massive optimism, with its total market value breaching the $3 trillion level. Bitcoin and other major coins reached unprecedented highs as more and more traders jumped into the bandwagon. Amid the extensive crypto adoption, many reliable crypto exchanges and brokers like TraderCryptoX also came into the picture to address the surging demands.

However, the crypto market has now lost its pace. Almost all the top-ranked coins have been unable to perform well over the last months, and it is unclear how far this crypto decline will go. Retail investors and institutions feel the adverse impacts, with gains of one to two years vanishing in a few days.

To note some examples, one of the best performers of Q1 2022, Terra LUNA, stupefied the crypto community when it plummeted 99% from its $100 peak due to the de-pegging of its UST stablecoin.

According to the recent data, Cardano, XRP, Dogecoin and Uniswap are down over 60%, whereas Solana, Polkadot, and Avalanche have lost more than 70% since the dawn of 2022. Bitcoin and Ethereum are at the forefront of this market collapse, with a price drop of nearly 70% compared to their peaks last year.

Leading crypto coins for 2022

It's astonishing how almost none of the most popular cryptos have managed to make a place among the best performers of 2022. However, it does not stipulate that there are no victorious coins this year. A small portion of digital assets has performed exceptionally well despite gloomy crypto market conditions. Several emerging projects like NEST protocol, TitanSwap, CONTRACOIN, Wirex Token, and BinaryX have skyrocketed in value, gaining around 70% - 400% since the start of this year. From the top-ranked cryptos, only stablecoins like DAI, BUSD, USDT, and USDC have remained consistent, bar TerraUSD.

Nonetheless, experts believe that the crypto space is nowhere near death, thanks to its inherent potential and nearly trillion-dollar worth. Moreover, many investors have become more enthusiastic about buying the "dip" to take advantage of the next crypto spring.

Although nothing can be said or predicted precisely, traders and investors should take extreme measures to counter the instability of digital currency markets. For instance, selecting a trusted and efficient crypto platform for your trading ventures is crucial to minimize external risks. In this regard, TraderCryptoX is one prominent crypto brokerage service where you can approach more than 60 crypto assets in a secure and high-speed trading system.