Forget Bitcoin, Solana and Luna Are Crypto Losers of 2022. Dogecoin Was a Winner.

  • Bitcoin has since remained below $17,000, raising concerns among investors about the crypto market’s potential for further decline.

Fast facts

Bitcoin fell by 0.36% in the past 24 hours, to trade at US$16,487 by 4:30 p.m. in Hong Kong. According to CoinMarketCap data, Ether fell 0.31% to trade at $1,189.

Dogecoin decreased 3.95% to trade at US$0.068, and Polygon’s Matic saw the second biggest loss, down by 3.21% to US$0.75.

Following Wall Street’s comeback, Asian equity markets rose.

Bitcoin fell below the US$17,000 mark on Dec. 16 after the U.S. Bitcoin has subsequently remained below $17,000, raising investor concerns about the crypto market’s potential for further decline.

Bitcoin, Ether will be better than you think in 2022

Even Bitcoin (BTC), the world’s largest cryptocurrency by market value, has lost 64% of its value in a year. Better than bonds.

“I want to emphasize that this is no different from what happens in traditional markets, especially the stock market,” said Andrew Baehr, First Engine at CoinDeskTV and Director of CoinDesk Indices.

“Look at someone who has lost 80-90% of their equity value in the last 18 months.”

Even Bitcoin (BTC), the world’s largest cryptocurrency by market value, lost 64% of its value in a year. Better than bonds.

“I want to emphasize that this is no different from what happens in traditional markets, especially the stock market,” said Andrew Baehr, First Engine at CoinDeskTV and Director of CoinDesk Indices.

“Look at someone who has lost 80-90% of their equity value in the last 18 months.”

Forget Bitcoin, Solana, and Luna lose-losing cryptocurrencies in 2022. Dogecoin is the winner.

Forget Bitcoin, Solana, and Luna lose-losing cryptocurrencies in 2022. Dogecoin is the winner.

While some cryptocurrencies had a strong run in 2022, some fared much worse than others, and some “altcoins” or smaller tokens even showed an edge.

Cryptocurrency market caps have fallen below $800 billion this year, a far cry from the nearly $3 trillion in par value seen at the digital asset peak in November 2021.

bitcoin,

The largest of them lost more than 75% over the same period. Among other things, it was caused by widespread asset sales due to rising interest rates, but a crack in the cryptocurrency market and a series of industry setbacks contributed to the losses.

Nowhere was this more evident than in Luna and FTT, where two tokens crashed as the projects and companies involved collapsed this year, and Solana, which caused a cataclysm.

black nightshade,

Another downside to FTX is that it is the so-called killer of Ethereum. This is because the once-popular project has become an alternative to the mainstream network of smart contracts backed by Ethereum tokens.

FTX’s disgraced former CEO Sam Bankman-Fried, who faces a financial lawsuit in the US, is a major Solana supporter and has invested heavily in Solana’s tokens through influential hedge fund Alameda Research. His disappearance led to difficult sales in Solana and a mass exodus of users from the network.

Solana, once the 5th largest cryptocurrency and a venture capitalist favorite, peaked at around $260 at the end of 2021 before dropping 96% to $9.50.

Success stories are hard to find in the crypto industry this year, but judging by Bitcoin’s 65% drop in 2022, there are fearless leaders.

Perhaps nothing stands out more than Dogecoin, the meme or “Memecoin” cryptocurrency that has become the 8th largest digital asset and has inspired dozens of other fake tokens, including:

Shiba Inu,

15th largest cryptocurrency.

Dogecoin’s main miner is Elon Musk.

Cryptocurrency prices are alive today. Bitcoin and Ethereum are slightly down. Solan Reservoir 9%, Cardano 4%

Cryptocurrency prices are alive today. Bitcoin and Ethereum are slightly down. Solan Reservoir 9%, Cardano 4%

Global cryptocurrency markets fell on Thursday, with almost all major cryptocurrencies posting losses, including Bitcoin, Ethereum, and Dogecoin.

The market capitalization of digital currency decreased by 2.97% to $823.29 billion.

The market is still reeling from the collapse of the FTX empire and the decline in demand for digital assets due to difficult market conditions.

Major digital currency Bitcoin has lost 60% of its value this year due to the collapse of Sam Bankman-Fried’s FTX empire and his stablecoins TerraUSD and Luna, while the broader crypto market has lost $1.4 trillion.

Solana, a cryptocurrency backed by FTX founder Bankman-Fried, fell 10.36% on Thursday, down 94.2% year-to-date. The FTX collapse has affected the liquidity of companies once associated with major cryptocurrency exchanges, including Solana. The token has limited connections to FTX, but its relationship with Bankman-Fried has been negatively affected.

world update

US-based cryptocurrency exchange Kraken announced Wednesday that it will shut down its operations in Japan next month, citing market conditions in Japan and a slowdown in the global cryptocurrency market. The Financial Services Authority (JFSA) will deregister Kraken on January 31, when customers will be required to withdraw their fiat and cryptocurrency holdings. Kraken said it would provide sufficient funds to allow affected customers to withdraw their assets promptly.

How to trade the main cryptocurrencies

• Bitcoin $16,776.27 (-0.36%)

• Ethereum $1,198.86 (-0.19%)

• $1.02 per paragraph (no change)

• $1 per coin (0.02%)

• BNB – $248.63 (+0.01%)

• 0.3507 XRP (0.15%)

• Dogecoin 0.07151 (-1.77%)

• Comics $0.2489 (-4.06%)

• Polygon $0.7955 (-1.95%)

• Peas $4.37 (-3.47%)

• Tron$0.05419 (+0.14%)

• Litecoin $67.34 (-4.37%)

• Sibu Inu $0.000008187 (-1.79%)

• Solana$10.27 (-9.27%)

“They won’t cry anymore. They’re just crying. Investors’ romance broken by cryptocurrency crisis.

"They won't cry anymore. They're just crying. Investors' romance broken by cryptocurrency crisis.

In the darkness of the 18th-century living room of Castle Craig Private Hospital near Peebles on the Scottish Borders, Roy tells his story 29 years after the global virtual currency crash. It’s a beautiful summer day, but it’s dark here. When Roy started to speak, he slumped nervously back in his chair.

It all started in February 2021 with a radio ad for Dogecoin, a cryptocurrency promoted by Elon Mask, the founder of Tesla. Intrigued, Roy started searching on Google and eventually made his first investment of €2,500 (£2,200) in various cryptocurrencies using a credit card. Roy’s wallet fell to 8,000, 100,000, and 525,000 euros. The flock enters the market during a major bull run. This means that the price will continue to rise for a long time to come. The strong wave is being held back by a combination of COVID-19 stimulus measures, low-interest rates, and unprecedented enthusiasm for cryptocurrencies among laid-off workers.

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