Maintaining Value: Which Top 10 Cryptos Performed Best?

Since early 2022, the cryptocurrency market has entered a further bear market. The current Bitcoin cycle low is back in June 2022, and the price has only risen about 11% since that point. There have been some cryptocurrencies that have held up better than others through the bear market. In this report, we look at the top 10 digital assets by market capitalization and how they have evolved since then.

Top cipher performance

The top 10 cryptocurrencies by market capitalization perform very well compared to smaller cryptocurrencies, but there is still a big gap. This is excluding 3 stablecoins that were pegged to the US dollar and managed to remain pegged this time around.

The remaining seven cryptocurrencies have performed to varying degrees. However, BNB is the best performer among them all. It did a better job of holding on to its 100% decline and holding its value.

Bitcoin ranks second in this regard as it has fallen 71.57% from its all-time high at the time of this writing. The largest cryptocurrency by market capitalization, he hit a new peak of $69,000 in November 2021 and is currently trending around $19,500 at the time of this writing.

Ethereum fell 72.65% from its all-time high of $4,800 to take third place. For the second largest digital asset, his 2021 has been a surprising year due to the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs). However, it is up 47% from the cycle low of $897.

Total market cap below $900 million | Source: Crypto Total Market Cap on TradingView.com

XRP has fallen 85.85% from all-time highs, ranking fourth on the list of best-performing assets. However, unlike other reports in this report, XRP price did not hit new all-time highs in 2021. Its ATH price he recorded at the beginning of 2018 at $3.30. XRP’s growth has been greatly derailed by Ripple’s lawsuit with the SEC. This has not yet been concluded.

Cardano and Solana are two networks that are strong contenders to the Ethereum network, both tied together in terms of how much of their value they hold. Both ADA and SOL are down 88% from their 2021 all-time highs. However, while SOL is up 17% from its cycle low, ADA is down 7% from its cycle low.

Last on this list is the meme coin Dogecoin. DOGE had an impressive rise backed by his billionaire Elon Musk, but once the hype subsided it wasn’t long before the price of the digital asset plummeted. Currently, he is down 91.96% from his May 2021 all-time high of $0.7.

Despite the decline seen in the market for these digital assets, these top cryptocurrencies are still considered safe bets for investors due to their prominence and large communities.

Featured image from The Economic Times, chart from TradingView.com

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