Cryptocurrencies have had an exceptional year, and a large amount of crypto assets in existence have reached an all-time high (ATH) against fiat currencies in the world. However, the same cryptocurrencies that exploited ATH last year are currently declining dramatically in value, with many cryptocurrencies losing 30% or more since the 2021 price hike.
Crypto values below last year’s highs
2021 was a good year for crypto assets as many blockchain networks swelled in fiat value as billions upon billions were added to the alternative digital economy. Bitcoin (BTC) broke the previous ATH record recorded in December 2017 at the end of 2020, when it exceeded $20,000 per unit area.
The price of BTC continued to rise until 2021, and eventually, it rose to $64,000 per unit. Moreover, on November 10, 2021, the price of Bitcoin jumped to the region of $69 thousand, but today the price has fallen by 39%.
Countless crypto assets today are in the same compound as BTC, reaching ATH sometime last year, but have since fallen below at least 30% or more of their mandatory value. Ethereum (ETH) rose to ATH sixty days ago at $4,847 but has since lost 35.46%.
Binance coin (BNB) reached ATH last year but it was eight months ago and today, it is down 34% from $689.92 the coin price it was previously. Two months ago, Solana (SOL) price reached $258.93 per coin, and today SOL is 47% below that price.
Percentage of different losses, timeframes, and cryptocurrencies that avoided losses
Most of the leading crypto assets, by market capitalization, have had a wide range of different percentage losses since 2021 ATHs. Cardano (ADA), for example, is down 62.78% since it touched $3.10 per coin four months ago.
Other crypto assets have much shorter or longer time frames since their ATHs. Xrp (XRP) for example, is one of the top ten who did not reach ATH last year. The xrp ATH cryptocurrency touched four years ago when it reached $3.30 per coin.
Polkadot (DOT) touched an all-time high in two months when it reached $54.98 per coin and today, it is down 55.9%. Meanwhile, Terra’s (LUNA) ATH is a lot closer as it tapped into the LUNA ATH 16 days ago when it hit $102.63 per unit. LUNA is down 29.51% from the ATH of the crypto-asset.
A lot of crypto assets below the top ten dropped significantly, but a few managed to stay higher. The Near Protocol (NEAR) is down just 6.96% reaching an ATH of $17.52 per unit seven days ago. Moreover, the crypto asset issued by Bitfinex, Unus Sed Leo (LEO), is down just 9.75% from eight months ago.
What do you think of the crypto assets in the top ten and how far below their all-time highs?
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