Top 5 Cryptos Taking A Major Beating In The Ongoing Market Mayhem
June 24 2022 - 10:10AM
NEWSBTC
The Top 5 cryptos featured in this article today are taking a heavy
blow in the ongoing market pandemonium. Led by Bitcoin and Ethereum
– two of the biggest cryptocurrencies in terms of market cap –
these five cryptos have been hogging the headlines of late.
Investors now wonder when a recovery will occur, as losses continue
to mount, sending jitters across the broader crypto space and
dampening investor spirit. Here’s a quick look at the Top 5
cryptocurrencies and how much they’ve lost so far: 1 – Bitcoin
(BTC) Bitcoin takes the spot of the Top 5 cryptos with the most
losses. Bitcoin is the largest and most popular cryptocurrency in
the world. In November of last year, BTC surpassed a market
capitalization of $1.27 trillion when one unit reached a price of
$69,000, an all-time high. As of this writing, the price of Bitcoin
hovers around $20,000. This year, it has lost 57.23 percent of its
value. Bitcoin maintained $20,000 for another day on Thursday,
despite calls for a 20 percent decline. Bitcoin has lost 57.23
percent of its value. Image: Coingape. 2 – Ether (ETH) Ether (ETH)
– at No. 2 on this list – dropped below $1,000 for the first time
this month after its value soared 386 percent in the previous year,
reaching a record high of $4,812 in November 2021. ETH, the second
largest cryptocurrency in the world with a market capitalization of
$134 billion, has lost 70 percent of its value since the beginning
of the year as of June 23. This year, Ether has experienced
the same fate as Bitcoin and many other cryptocurrencies, bringing
its price to its lowest level since January 2021. Suggested Reading
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Solana (SOL) Solana has lost 78 percent of its value this year,
trading at $36.28 as of Thursday, a far cry from its November 2021
all-time high of $258. Solana (SOL) is the ninth largest
cryptocurrency by market capitalization, at $12.46 billion. In the
past 24 hours, SOL has lost 0.51 percent of its market
capitalization. The intraday trading session has witnessed a 9.30
percent decline in trade volume. Crypto total market cap at $932
billion on the daily chart | Source: TradingView.com 4 – Terra
(LUNA) On April 4, Luna reached an all-time high of $116, with a
market capitalization of more than $40 billion. During the period
between May 4 and 12, the price of the token plummeted from $86 to
$0.0041. Do Kwon, co-founder of Terraform Labs, told the Wall
Street Journal this week that he lost nearly all of his wealth in
the market fall. As of Thursday, LUNA is currently valued at
$0.00005682 and has been renamed Terra Classic. Suggested Reading
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Users 5 – TerraUSD Last month, TerraUSD slipped below the US
dollar, and attempts to return it to its $1 peg failed. It
depreciated to $0.69 before entering what is known as a “death
spiral” and lost all value. LUNA is now within the five decimal
points adjacent to zero. Bloomberg reported on June 9 that the U.S.
Securities and Exchange Commission is examining whether the
marketing of TerraUSD prior to its collapse violated federal
investor protection requirements. Featured image from Analytics
Insight, chart from TradingView.com
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