Top 10 Cryptos Lose -50% Since January, Except TRX, Gaining +5% -Breaking
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© Reuters. Top 10 Cryptos Lose -50% Since January, Except TRX, Gaining +5%- The majority of popular cryptos lost over 50% of their 2022 returns between January and February, with the exception of TRX, which saw a 5% increase.
- Among the most popular cryptos with negative returns are LUNC and AVAX.
- The Crypto Fear & Greed Index shows that investors have Extreme Fear about the current market condition.
Charlie Bilello is a Twitter (NYSE.) cryptocurrency influencer who highlighted 14 coins that had lost substantial value since 2022. His tweet revealed that all ten top-ranked cryptocurrencies lost over 50% since 2022, with the exception of TRON (TRX), who gained 5%.
Listed cryptos that are notable include LUNA CLassic LUNC (-99%), Avax (-77%), SOL (-76%), DOT (68%) and ADA (-57%).
LUNA 1.0 was among the coins which attained a new ATH for this year. It dropped freely from $119 just two months earlier to $0.00001675 in May 2013. Terraform Labs renamed the token Terra LUNA Classic to (LUNC), and created a new blockchain, LUNA 2.0. As compensation, original investors in LUNA 1.0 were given an airdrop of the new LUNA2.0.
Reacting to Bilello’s tweet was a Twitter user with the handle Anda Alux:
It’s not a good idea to accumulate anything during these conditions. It’s worth [looking] closer, every millionaire [is]These are times when you have to survive.
Interestingly, user Anda Alux’s comment confirms the available data on the global market sentiment. According to the Alternative, the Crypto Fear & Greed Index shows that investors have Extreme Fear about the current market condition.
For the last month, there has been an extreme fear sentiment in the index. Source: Alternative
These investors also observed that extreme fear may be an indicator of good investment opportunities for those who have the courage to invest.
The price of (BTC), by market capitalization the biggest cryptocurrency, fell below the $30k mark in the last 24 hour. CoinMarketCap says that Bitcoin is currently trading at around $29490.63, representing a 6.2% drop over the past 24 hours. With a market capitalization of $561.71billion, this has also caused Bitcoin’s price to drop by 7% in the past seven days.
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