Cryptocurrencies incurred significant losses, amounting to about $1.4 trillion in 2022, after the value of the total cryptocurrency market fell from $2.2 trillion to $800 billion.
According to Arabiya.net, these losses came as a result of the closure of many large cryptocurrency exchanges during 2022, and concerns about liquidity and solvency became a major topic of discussion throughout the market.
1 - Bitcoin (market cap $323 billion)
Even if it performs better than some of its less valuable peers, the world's most valuable and largest cryptocurrency has not been able to avoid a market crash in 2022.
As Bitcoin's popularity increased, so too did its value. In May 2016, one Bitcoin cost about $500.
This compares to the current price of approximately $16,580, which represents an increase of approximately 3,250%.
Bitcoin is down 76% from its peak of $68,787 in November 2021. According to CoinMarketCap.
2 - Ether (market value $148 billion)
Having outperformed Bitcoin by more than 350% in 2021, Ether ranked 10th among cryptocurrencies in 2022, losing just under 70% of its value.
Among investors and cryptocurrency enthusiasts, Ether stands out as the most popular digital currency because it is more than just another digital currency.
Despite a difficult first half of the year, experts believed that by 2023 the price would have returned to over $3,000.
3 - Tether (market value $66 billion)
Tether or as it is known as (USDT) is a stable currency, which means that it is backed by fiat currencies such as the US dollar and the euro and theoretically maintains an equal value to one of these two denominations.
Tether is trading at less than $1, but it still maintains its position as the most demanded currency, which exceeded $66 trillion over the past week.
In theory, Tether's value should be more stable than other cryptocurrencies, and valued by investors who anticipate extreme volatility in other digital currencies.
4 - USD Coin
Nearly similar in performance was the USD Coin, another stablecoin also pegged to the US dollar, with a market capitalization of $44.6 billion.
5 - Binance USD currency
As in the case of stable currencies, Binance USD ranked sixth in terms of market value, despite the pressures on the company that developed it, being the largest cryptocurrency exchange in the world, and the market value of the stable currency Binance is $ 16.6 billion.
6 - Binance (market cap $38.8 billion)
In light of the successive collapses of crypto exchanges and cryptocurrency lending companies, Binance has more or less maintained its stability, assuring the solvency of its customers.
However, it also did not escape the decline, as it lost more than 52% of its value during 2022, and is currently trading around the $243 level.
7 - Dogecoin (market cap: $9.8 billion)
Starting in the second quarter, the original meme coin joined the rest of the cryptocurrency market in a major sell-off.
And in 2022, Dogecoin will perform better than most other cryptocurrencies.
8 - Ripple XRP
Dogecoin is the third best performer among the top 10 cryptocurrencies by market capitalization, with a drop of just over 55% last year, while the second place is occupied by XRP, which has seen a drop of 54%.
The cryptocurrency, which was developed as a mockery of Bitcoin over most other cryptocurrencies in large part due to Elon Musk's deal, has outperformed the Twitter acquisition, with advocates of the coin believing the acquisition could improve the price of Dogecoin, which is now trading at 0.0697. dollars, down 10% in the past seven days.
9 - Cardano (market cap $9 billion)
Cardano's ADA coin has shown modest growth compared to other major cryptocurrencies.
In 2017, it was $0.02, and at the end of 2022, it reached $0.26, which represents a growth of 1.188%.
Some analysts expect the value of ADA to rise by about 256% between the end of 2022 and the end of 2025.
Then between 2025 and 2030, the cryptocurrency is expected to expand by an additional 206%.
10 - Polygon (market value $6.6 billion)
Despite being the tenth largest cryptocurrency by market capitalization, especially after the collapse of the stablecoin Terra and its complete exit from the list, which led to the erasure of more than $60 billion of customer wealth, Polygon lost nearly 70% of its market value, and was one One of the worst performers among the most valuable cryptocurrencies in 2022.
