MANY CRYPTOCURRENCIES HAVE DIPPED MORE THAN 90% FROM ALL TIME
According to price data from CoinGecko compiled by CoinGoLive, the current bear market has seen 72 top-100 tokens fall more than 90% from its all-time high.
Big coins go better than most. Of the top ten cryptocurrencies on the market average, nine are immersed below 90% during the current market downturn. Bitcoin (BTC), the largest crypto, fell 70.3% from its November high to $ 69,000. Second place Ether (ETH) dropped 78% from its high of $ 4,878.
Some of the top ten include Binance Coin (BNB), Cardano (ADA), Solana (SOL), and Polkadot (DOT) low between 68% and 88%, (excluding three stablecoins for USDT, USDC and BUSD). Ripple (XRP) is unique, following a 90.56% fall from its ATH.
The fall rate from ATH for these top 10 coins is 79%, and among the top 20 coins the average fall from the highest is 81.1%.
Exchange tokens appear to be performing better than most other sectors with a 68.3% drop in their ATH.
The best performer is the LEO token, which fell only 38.87%, Cointelegraph reported seeing "aggressive low-level purchases" on June 13. LEO is an Ethereum-based Ethereum exchange token exchange platform and trading platforms owned by Finex also used to reduce traders' money.
The FLEX Coinflex exchange token is the 83rd largest crypto. It also appears to be immune to harmful recurrence and decreases by just 38.6% from ATH. FLEX is used to pay for transactions and reduce trading costs in its trading area. This project proposes its method of burning tokens as a reason for its price volatility.
KuCoin trading platform token, KCS, has seen a 61.43% decline in its ATH. KCS is an ERC-20 token used to reduce trading costs and is a traditional KuChain token, a blockchain-built exchange.
However KCS may see another 60% deposit below its ATH if the June 12 Cointelegraph forecasts are correct.
Many cryptocurrencies experienced a significant portion of their losses over the past week as the crypto market share fell by 24% from $ 1.3 trillion to $ 996 billion. At the same time, BTC was also down about 35% from $ 30,500 to $ 20,216 on June 15.
BTC is currently trading at $ 20,486 since the Federal Reserve announced a 75-point increase in interest rates in an attempt to combat inflation.
As a side, stablecoins were also not immune to falls, despite their mental stability. Since 2018, many have shaken 10% to 30% in various areas including USDT, USDC, BUSD, DAI, FRAX, USDP, PAXG, CDAI and XAUT. TUSD recorded a 38.4% deviation from its target in 2018.