2022 is coming to an end and during the last 12 months, the crypto economy has lost roughly $1.486 trillion in value against the U.S. dollar. On Dec. 20, 2021, bitcoin was trading for $46,406 and it has lost more than 63% in value year-to-date, while the second leading crypto asset ethereum shed 69% against the greenback over the last year.
2022’s Top Ten Cryptos Shed Billions While a Few Played Musical Chairs
Approximately 365 days ago on Dec. 20, 2021, the crypto economy was worth a lot more in value than it is today. 12-month statistics indicate that $1.486 trillion has been erased from the crypto economy since that day, as it slid from $2.334 trillion to the Dec. 20, 2022 value of $848 billion.
At the time, bitcoin’s (BTC) nominal value measured in U.S. dollars was around $46K per coin and ethereum (ETH) was priced at $3,847 per unit last year. 24-hour global trade volume was also much larger, as $118 billion in trades were recorded on Dec. 20, 2021.
Today, the global trade volume has been sliced in half, as there’s been roughly $48 billion in swaps recorded on Dec. 20, 2022. Last year at this time, the top ten crypto market cap looked a whole lot different.
A number of tokens have been displaced from the top ten, while new coins have been added. The top ten largest crypto market caps last year included bitcoin (BTC), ethereum (ETH), bnb (BNB), tether (USDT), solana (SOL), usd coin (USDC), xrp (XRP), cardano (ADA), terra (LUNA), and avalanche (AVAX), respectively.
12 months later, SOL has been kicked out of the top ten, LUNA imploded and spiraled below a U.S. penny per coin, and AVAX was pushed out of the top ten standings as well. On Dec. 20, 2021, only two stablecoins existed in the top ten,…
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