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The year 2022 is also noted as the best year for cryptocurrencies. Every day, millions of cryptocurrencies are transferred for making daily payments. Hype-driven cryptos like Shiba Inu and Dogecoin led the market expansion efficiently. The top cryptocurrencies are attracting investors looking to diversify their portfolios. However, the decline in cryptocurrency prices is making investors worry about the quality of cryptocurrencies, thus resulting in the dumping of those cryptocurrencies. Amid such a backdrop, let's take a look at the top cryptocurrencies that are the worst-performing and are dumped by investors in 2022.
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 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.
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. The price of Theta Network has fallen by 14.79% in the past 7 days. The price declined by 2.70% in the last 24 hours. In just the past hour, the price shrunk by 0.82%.
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. The price declined by 0.65% in the last 24 hours. In just the past hour, the price shrunk by 0.03%.
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. The price of THORChain has fallen by 14.36% in the past 7 days. The price declined by 2.44% in the last 24 hours.
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (Defi) services to developers using its bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds. The price of Fantom has fallen by 26.43% in the past 7 days. The price declined by 4.62% in the last 24 hours.
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 is 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)
Launched in June 2016, it is a multi-purpose blockchain platform that supports several applications, including decentralized applications (DApps) and smart contracts. Waves' native token WAVES helps make standard payments such as block rewards. WAVES is down almost 20% in the last 90-days and over 10% in the last 7-days. It has an all-time high of US$62.36 (March 2022) and an all-time low of US$0.1227 (August 2016).
Launched in April 2020, Celo is a blockchain ecosystem that focuses on boosting cryptocurrency adoption amongst smartphone customers. It makes use of telephone numbers as public keys to allow smartphone house owners to transact in cryptocurrency. It is down by nearly 18% within the final 30 days and at the moment is buying and selling at around US$2.646. It has an all-time high of US$10.66 (August 2021) and an all-time low of US$0.7955 (Could 2020).
Launched in January 2020, is a decentralized change for stablecoins that makes use of an automatic market maker (AMM) to handle liquidity. Its native token is used for governance, together with rewarding customers relying on their liquidity dedication and size of possession. At the moment it is buying and selling at around US$2.008. It has an all-time low of US$60.50 (August 2020) and an all-time low of US$0.3316 (October 2020).
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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.
