So far this year 2022, the cryptocurrency market has not performed well overall. Not only is bitcoin (BTC) more than 10% below its starting price for the year, but at least 23 of the top 50 cryptocurrencies have lost at least 30% of their price between January 1 and now. of writing this article.
Of that list, 12 cryptocurrencies have registered a depreciation of more than 40%, while three of them have lost half of their market value in these first months: Algorand (ALGO), Solana (SOL) and The Sandbox (SAND)specifically, as reflected in the records of CoinMarketCap.
Among those that have fallen 40% or more, we can highlight AXS from Axie Infinity, the UNI token from the decentralized finance platform (DeFi) Uniswap or Polygon (MATIC). Interestingly, these three assets have had a slight rebound in recent days. That is, they became worse than today.
Another noteworthy fact is that, despite the poor performance of the market, the most important cryptocurrencies are not among the biggest losers to date. In the group with depreciation of 40% or more we did not find any of the top 10, with the sole exception of Solana.
Already in the 30% range, we do go to Cardano (ADA), Avalanche (AVAX) and Polkadot (DOT). The latter is ranked 12th on CoinMarketCap, but if we take stablecoins out of the equation, it would be among the top 10 most valuable on the market.
Only four top cryptocurrencies are in the green
The market outlook looks bleak compared to the beginning of this 2022. In fact, and as we have already reported in CriptoNoticias, only 6 coins of the 100 with the highest capitalization have increased so far this year.
Now, if we restrict it to the top 50, the number decreases to four: Waves, UNUS SED LEO, FTX Token (FTT) and Terra (LUNA). The most striking thing is that the first two have a behavior diametrically opposed to the market, going from 50% appreciation between January and today.
Meanwhile, even the most important coins sport a deep red color. Ether (ETH), from Ethereum; and Binance Coin (BNB), second and third from the top excluding stablecoins respectively, with more than 25% down.
Bitcoin, the main cryptocurrency, is one of the least punished in the market. In fact, a new rise of more than 8% in the last 24 hours, has it back above 42,000 dollars per unit. Perhaps the next step is for it to challenge again the $45,000 resistance that we have reported in this paper earlier. The same one that has become very difficult to break so far in 2022.