With more than 19,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks. That massive amount of supply makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well-known coins like bitcoin, ether, and dogecoin. The surge in new crypto coins came amid a massive bull market for the sector in 2021, but a more than 50% decline in bitcoin from its November high is challenging the space, especially in smaller coins that saw extraordinary gains last year like Solana, Cardano, and Polkadot. This article explores the top cryptocurrencies to sell in the crypto bloodbath 2.0.
Ether is down 69.3% in the second quarter and is on track for its worst quarter on record, dating back to its inception in 2015. Bitcoin has lost around 58% of its value in the second quarter of 2022, its worst quarterly loss in more than a decade. According to crypto experts, this is the worst quarterly performance for bitcoin since the third quarter of 2011 when it lost 68.1% of its value.
The bear market has already pushed Shiba Inu back to the 5-zeroes after declining 10%. But there is so much that might push the Shiba Inu price even further down. Shiba Inu's price slipped further to the downside after price action tried to pop above and break the 55-day Simple Moving Average (SMA) that has been hanging over the price action as a watchdog keeping the downtrend in play.
The Ethereum price grew considerably back in 2021, with its value revolving around US$4,000. But during the crypto market meltdown, its value dropped down to US$2k and dramatically continued to fall with the several downturns that the crypto market faced. Ether is down 69.3% in the second quarter and is on track for its worst quarter on record, dating back to its inception in 2015.
Theta is a blockchain-powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.
Filecoin is a decentralized storage system that aims to "store humanity's most important information." The project raised US$205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network.
Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face such as slow performance and instability.
THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process.
Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. The price of Helium has fallen by 13.55% in the past 7 days.
Loopring is an open protocol for creating decentralized crypto exchanges. This cryptocurrency's goal is to convey collectively the options of centralized and decentralized crypto exchanges to develop a protocol with its distinctive benefits while eliminating inefficiencies. At the moment buying and selling are at around US$0.689. It has an all-time excessive of US$3.83 (November 2021) and an all-time low of US$0.01986 (December 2019)
Aave was originally launched in November 2017 as ETHLend but was rebranded to Aave in September 2018. Aave is mainly a decentralized finance protocol that allows users to lend and borrow cryptocurrency. AAVE is down by over 19% in the last 30 days and is currently trading at around US$63.65. It has an all-time high of US$666.86 (May 2021).
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.