72 of the top 100 coins have fallen 90% or more: Here are the holdouts

Must read

The ‘Brussels Effect’ wields real influence over US crypto regulation

The right to privacy is enshrined in many legal traditions around the world. In the United States, it’s protected by the Fourth Amendment; in...

Lack of ‘qualified people’ without more Web3 education, say academics

Australian blockchain academics and educators have called for more robust Web3 education in schools, preparing students for a world that will be dominated by...

Warner Music Group partners with OpenSea to create more Web3 opportunities for artists

The company stated that select artists can launch their NFT collections and limited-edition projects on their own dedicated drop pages. 1174 ...

Market manipulation claims will be hardest ‘nut to crack’ in Bitcoin ETF approval — WisdomTree

“We’re all kind of watching this and seeing what’s going to happen,” said WisdomTree's Will Peck on spot Bitcoin exchange-traded funds in the...

According to price data from CoinGecko compiled by CoinGoLive, the current bear market has seen a whopping 72 out of top-100 tokens fall more than 90% from their all-time highs.

The larger cap coins are faring better than most. Among the top ten cryptocurrencies by market cap, nine have dipped less than 90% during the current market downturn. Bitcoin (BTC), the largest crypto, is down 70.3% from its November high of $69,000. Second place is Ether (ETH) which is down 78% from its high of $4,878.

Others in the top ten include Binance Coin (BNB), Cardano (ADA), Solana (SOL), and Polkadot (DOT) which are down between 68% and 88%, (excluding the three stablecoins USDT, USDC and BUSD). Ripple (XRP) is the exception, tracking a fall of 90.56% from its ATH.

The average fall from ATH for these top 10 coins is 79%, while among the top 20 coins the average fall from the all-time-high is 81.1%.

Exchange tokens appear to be doing better than many other sectors with a 68.3% average fall from their ATHs.

The best performer there is LEO token, which has only fallen 38.87%, which Cointelegraph reported saw “aggressive buying at lower levels” on June 13. LEO is the Ethereum-based utility token for the Bitfinex exchange and trading platforms managed by iFinex and is used to reduce fees for traders.

Coinflex exchange’s native FLEX token is the 83rd largest crypto. It also appears relatively immune to the devastating drawback and is down just 38.6% from from ATH. FLEX is used to pay for transactions and reduce trading fees on its trading platform. The project touts its token burning mechanism as a reason for its price resilience.

The utility token for the KuCoin trading platform, KCS, has seen a 61.43% drawdown from its ATH. KCS is an ERC-20 token that is used to reduce fees on the exchange and is the native token for KuChain, a blockchain developed by the exchange.

However KCS could see a further dip more than 60% below its ATH if Cointelegraph’s June 12 predictions are right.

Many cryptocurrencies have experienced a large portion of their losses within the past week as the total crypto market cap dropped 24% from $1.3 trillion to $996 billion. In that time, BTC also fell about 35% from $30,500 to a low of $20,216 on June 15.

Related: Bitcoin bounces 8% from lows amid warning BTC price bottom ‘shouldn’t be like that’

BTC is currently trading at $20,486 since the Federal Reserve announced a 75 basis point hike in interest rates to try to combat inflation.

As an aside, stablecoins haven’t been immune to falls either, despite theoretically being stable. Since 2018, many have wobbled by 10% to 30% at various points including USDT, USDC, BUSD, DAI, FRAX, USDP, PAXG, CDAI and XAUT. TUSD recorded a 38.4% deviation from its peg in 2018.

More articles

Latest article

The ‘Brussels Effect’ wields real influence over US crypto regulation

The right to privacy is enshrined in many legal traditions around the world. In the United States, it’s protected by the Fourth Amendment; in...

Lack of ‘qualified people’ without more Web3 education, say academics

Australian blockchain academics and educators have called for more robust Web3 education in schools, preparing students for a world that will be dominated by...

Warner Music Group partners with OpenSea to create more Web3 opportunities for artists

The company stated that select artists can launch their NFT collections and limited-edition projects on their own dedicated drop pages. 1174 ...

Market manipulation claims will be hardest ‘nut to crack’ in Bitcoin ETF approval — WisdomTree

“We’re all kind of watching this and seeing what’s going to happen,” said WisdomTree's Will Peck on spot Bitcoin exchange-traded funds in the...

Judge orders SEC to turn Hinman documents over to Ripple Labs after months of dispute

U.S. District Court Judge Analisa Torres overruled the SEC’s second attempt to withhold the documents relating to former Division Director William Hinman, who...