The crypto market hasn’t had the perfect begin this yr. Uncertainty round COVID-19 and the Russia-Ukraine warfare might have pushed away many buyers who had been serious about making a long-term funding in digital forex. Nonetheless, the decline in cryptocurrency costs additionally affords a chance for buyers to purchase high quality cryptocurrencies at decrease costs. Amid such a backdrop, let’s check out the ten worst-performing cryptocurrencies in 2022 up to now.
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The Ten Worst-Performing Cryptocurrencies In 2022 So Far
We used the year-to-date return knowledge from CoinMarketCap as of February 28 to rank the ten worst-performing cryptocurrencies in 2022 up to now. We’ve got solely included cryptocurrencies with a market cap of greater than $1 billion. Listed here are the ten worst-performing cryptocurrencies in 2022 up to now:
Aave (AAVE, -46%)
Aave was initially launched in November 2017 as ETHLend however was rebranded to Aave in September 2018. Aave is especially a decentralized finance protocol that permits customers to lend and borrow cryptocurrency. AAVE is down by over 19% within the final 30 days and is at the moment buying and selling at round $129.45. It has an all-time excessive of $666.86 (Could 2021).
Stacks (STX, -46%)
Initially generally known as Blockstack, this cryptocurrency was rebranded to Stacks within the fourth quarter of 2020. Stacks is primarily a layer-1 blockchain answer that goals to deliver good contracts and decentralized functions (DApps) to Bitcoin. STX is down by nearly 22% within the final 30 days and is at the moment buying and selling at round $1.15. It has an all-time excessive of $3.61 (November 2021) and an all-time low of $0.04501 (March 2020).
Solana (SOL, -46%)
Formally launched in March 2020, this cryptocurrency makes use of the permissionless nature of the blockchain to supply decentralized finance (DeFi) options. Its proof-of-history (PoH) consensus allows better scalability of the protocol, which boosts usability. SOL is down by nearly 16% within the final 30 days and is at the moment buying and selling at round $91.73. It has an all-time excessive of $260.06 (November 2021) and an all-time low of $0.5052 (Could 2020).
The Sandbox (SAND, 47%)
Launched in 2011, Sandbox is a blockchain-based digital world that permits customers to design, develop, purchase and promote digital belongings within the type of a recreation. Sandbox makes use of decentralized autonomous organizations (DAOs) and non-fungible tokens (NFTs) to create a decentralized platform. SAND is down by over 23% within the final 30 days and is at the moment buying and selling at round $3.04. It has an all-time excessive of $8.44 (November 2021) and an all-time low of $0.02894 (November 2020).
Celo (CELO, -49%)
Launched in April 2020, Celo is a blockchain ecosystem that focuses on boosting cryptocurrency adoption amongst smartphone customers. It makes use of telephone numbers as public keys to allow smartphone house owners to transact in cryptocurrency. CELO is down by nearly 18% within the final 30 days and is at the moment buying and selling at round $2.62. It has an all-time excessive of $10.66 (August 2021) and an all-time low of $0.7955 (Could 2020).
Algorand (ALGO, -51%)
Launched in 2019, Algorand is a self-sustaining, decentralized blockchain-based community that helps a variety of apps. It has been designed to scale back transaction charges and get rid of mining, as it’s based mostly on a permissionless pure proof-of-stake (PoS) blockchain protocol. ALGO is down by nearly 30% within the final 30 days and is at the moment buying and selling at round $0.7824. It has an all-time excessive of $3.28 (June 2019) and an all-time low of $0.1024 (March 2020).
Arweave (AR, -53%)
Formally launched in June 2018, Arweave is a decentralized storage community that goals to supply a platform for storing knowledge indefinitely. It was initially launched in August 2017 as Archain however was later rebranded to Arweave in February 2018. AR is at the moment buying and selling at round $30.98. It has an all-time excessive of $90.94 (November 2021) and an all-time low of $0.4854 (Could 2020).
Kusama (KSM, -55%)
Kusama refers to itself as “Polkadot’s wild cousin.” It goals to make obtainable a massively interoperable and scalable framework for builders. KSM is at the moment buying and selling at round $30.98. It has an all-time excessive of $623.75 (Could 2021) and an all-time low of $0.9158 (January 2020).
Curve DAO Token (CRV, -60%)
Launched in January 2020, Curve DAO Token is a decentralized trade for stablecoins that makes use of an automatic market maker (AMM) to handle liquidity. Its native token is used for governance, together with rewarding customers relying on their liquidity dedication and size of possession. CRV is at the moment buying and selling at round $2.43. It has an all-time excessive of $60.50 (August 2020) and an all-time low of $0.3316 (October 2020).
Loopring (LRC, -61%)
Loopring is an open protocol for creating decentralized crypto exchanges. This cryptocurrency goals to deliver collectively the options of centralized and decentralized crypto exchanges to develop a protocol with its personal distinctive benefits whereas eliminating inefficiencies. LRC is at the moment buying and selling at round $0.7659. It has an all-time excessive of $3.83 (November 2021) and an all-time low of $0.01986 (December 2019).
