Which cryptocurrencies have experienced the worst declines since the all-time highs?

Cryptocurrencies across the market have fallen sharply since the crash. The crypto market has seen several hundred billion shaved off its market cap. Bitcoin, Ethereum և and others have seen their value fall significantly in a week. However, in all of this, some digital assets have been hit harder than others. This report looks at these cryptocurrencies.

Metaverse Tokens shoots

The recent decline of the crypto market is characterized by bloody streets. As expected, the 52% decline in bitcoin brought other digital assets with it from its all-time high. Ethereum, the second largest cryptocurrency by market capitalization, fell 54% from its all-time high. While these cryptocurrencies have seen serious downsides, others have seen more declines since then.

Related reading | Market sentiment collapses as bitcoin trades drop to 33 $ 33,000

The Metaverse tokens, which caused a stir when the social media giant Facebook announced that it was rebranding Meta մետ entering the metavers space, bore the brunt of the crash. These signs, which have reached several all-time highs in recent months, have dropped to 68% of all-time highs.

Chart showing cryptocurrencies by lost value

Metaverse tokens take some of the biggest hit | Source: Arcane Research

MANA, SAND և AXIE are the most popular metal chips, they have risen in price due to their popularity. However, with the market downturn, they have not been able to cope well. All of these signs have lost more than 68% since they reached their all-time high. All three opposing signs are down: $ 2.27, $ 3.27 և $ 52.66 respectively.

As for the 1st tier cryptocurrencies.

Layer 1 cryptocurrencies also received a big hit, but saw more diverse performance compared to meta-tokens. Heavy strikers like Solana (SOL) and Cardano (ADA) have been the hardest hit by first-tier cryptocurrencies, both of which have traversed the Metavers token with more than 68% losses since their all-time highs. Other lesser-known signs of the 1st layer, however, have a different history.

Related reading | Ethereum leaves ETH 2.0 in the past with a new roadmap rebrand

FTM, ONE, ATOM և Near, popularly called FOAN, made a fuss while others suffered. Each of these cryptocurrencies has managed to overtake the market as altcoins dump in response to a bitcoin slump.

The view of decentralized finance (DeFi) is a sadder story. This area, which brought financial commodities closer to the average investor, saw the highest declines. Signs of this distance have dropped by up to 80% after all-time highs.

The crypto market was able to withstand the crash, but not before losing significant value. Overall, the crypto market is now down 50% from its all-time high. It now stands at $ 1.686 trillion at the time of this writing.

Crypto common market cap chart from TradingView.com

Crypto market cap crumbles to $1.6 trillion | Source: Crypto Total Market Cap on TradingView.com
Featured image from Bitcoin Magazine, charts from Arcane Research and TradingView.com

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