After the first half of the year, statistics for the second quarter of 2022 show that the crypto economy has fallen significantly in value, with crypto tokens occupying the top ten positions in the market losing 30% to 60% of the value in US dollars over the past three years. months. The Q2 data also shows that Binance Coin managed to avoid losses suffered by its competitors, with solana being the worst of the top ten crypto assets by market capitalization.
Top 10 Crypto Assets Suffer Significant Losses During Last Quarter
It was, to put it mildly, a crazy second quarter, as numerous crypto assets in economics of digital currency are at much lower levels than three months ago. In the second quarter of 2022 bitcoin (BTC) for example, lost 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 last three months. While most cryptoeconomics losses associated with the aforementioned two crypto assets, a large number of digital currencies in the leading positions lost a huge amount of value.
Binance Smart Chain Network BNBhowever, declined by just 33.67% in the second quarter, making BNB the best performance in the second quarter among the top ten crypto assets. BTCThe 42% drop was the second-best market performance in the top ten, while cardano (ADA) managed to secure third place in the top ten market performance in the second quarter.
ADA lost 45.49% in value against the US dollar in three months. XRP lost 48.99% in the second quarter, while dogecoin (DOGE) lost 48.51%. Sunshine (SUN) was the worst market performance in the top ten as it lost 59.19% in the second quarter of 2022.
Dozens of Relatively Unknown Tokens Rise, $930 Billion Wiped From Crypto Economy in Q2
Most of the top-performing Q2 non-top ten crypto assets were relatively unknown digital currencies. The largest gains recorded in the second quarter came from smartofgiving (AOG) tokens, followed by pitbull (PIT) and bosagora (BOA). The worst performers in the second quarter were bluesparrow, piedao, terra luna classic and terra luna classic wrapped.
Hundreds of coins from 13,414 crypto assets traded on 514 exchanges worldwide lost over 90% in value in the second quarter. In contrast, there are only a few dozen crypto assets that performed well compared to hundreds of coins that lost value in the second quarter. Only in the last three months $930 billion in dollar terms retired from cryptoeconomics.
What do you think about the performance of the cryptocurrency market in the second quarter? Let us know what you think about it in the comments section below.
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