The cryptocurrency space hasn’t had its best year so far. Uncertainty around the Russia-Ukraine conflict plus COVID-19 had most investors escaping risky markets.
The crypto spectrum started 2022 in turmoil. Uncertainty around the Russia-Ukraine conflict plus the COVID-19 pandemic pushed away investors interested in long-term crypto investment. Nevertheless, the plunge in crypto prices also presents an opportunity for investors to accumulate at discounted prices. However, let’s check the top worst-performing digital tokens so far in 2022.
Our analysts used YTD returns stats from Coinmarketcap as of 2022 February end to rank worst-performing assets this year. Moreover, the list included crypto tokens with market capitalizations exceeding $1 billion.
Loopring (LRC): -61%
Loopring is a protocol for developing DEXs. The project aims to integrate decentralized and centralized exchanges to introduce a platform without inefficiencies. The platform’s native token, LRC, has tumbled by 61% this year. For now, the alt trades at $0.7659. Meanwhile, LRC touched its ATH of $3.83 in 2021 November while hitting its record low in 2019 December at $0.01986.
Curve DAO Token (CRV): -60%
Launched in 2020 January, Curve DAO Token is a DEX for stablecoins that manages liquidity utilizing an AMM (automated market maker). Holders can use CRV for governance and earn rewards depending on liquidity commitment and ownership length. CRV traded at $2.43 while publishing this blog. The alt touched its ATH of $60.50 on 2020 August, whereas the record low sits at $0.3316 (2020 October).
Kusama (KSM): -55%
Kusama calls itself a ‘Polkadot’s wild cousin.’ The platform aims to ensure a top-notch scalable and interoperable framework for Devs. For now, KSM trades near $30.98. It hit an ATH of $623.75 in 2021 May, while KSM touched its record lows on 2020 January, at $0.9158.
Arweave (AR): -53%
Launched in 2018 June, Arweave is a storage platform. It targets to offer a decentralized platform that can store data indefinitely. Remember, it deputed in 2017 August as Archain before rebranding to Arweave in 2018 February. While publishing this content, AR traded near $30.98. It touched its ATH of $90.94 in 2021 November and the lowest mark in 2020 May t $0.4854.
Some of the alts with worst performances in 2020 so far include Algorand (-51%), Celo (-49%), Sandbox (-47%), Solana (-46%), Stacks (4-6%) and Aave (-46%).