2022 was a very tough year for crypto investors. In fact, it was the polar opposite of 2021, when various cryptocurrencies zoomed to record highs and the total market value of the space hit $3 trillion.Today, the total crypto market cap has plunged to just under $800 billion as investor confidence hits new lows. A handful of scams, frauds, and platform meltdowns fueled a steep downward spiral in prices for nearly all cryptocurrencies. Most recently, the downfall of FTX and founder Sam Bankman-Fried sparked another sell-off in major tokens like bitcoin and ether.Other failures in the crypto space in 2022 included the implosion of TerraUSD and Luna, the bankruptcies of Voyager Digital and BlockFi, and the unwinding of leverage via various crypto hedge fund blowups, like Three Arrows Capital. The damage in the industry was so widespread that the best performing crypto with a market valuation of at least $1 billion was a token that broke even in 2022, according to data from CoinMarketCap. Some popular cryptos that have fallen below the $1 billion market cap threshold include Terra Classic, which dropped 99%, as well as Helium, Axie Infinity, and The Sandbox, all of which plummeted more than 93% in 2022.These are the 10 worst performing cryptocurrencies of 2022, according to data from CoinMarketCap.
The list excludes tokens that have a market value of less than $1 billion. 10. Cardano Coinmarketcap Ticker: ADA2022 Losses: -82%Market Value: $8.3 billion9. Internet Computer Coinmarketcap Ticker: ICP2022 Losses: -84%Market Value: $1.1 billion8.
Polkadot Coinmarketcap Ticker: DOT2022 Losses: -85%Market Value: $4.9 billion7. Cronos Coinmarketcap Ticker: CRO2022 Losses: -90%Market Value: $1.4 billion6. Avalanche Coinmarketcap Ticker: AVAX2022 Losses: -91%Market Value: $3.3 billion5.
Algorand Coinmarketcap Ticker: ALGO2022 Losses: -91%Market Value: $1.2 billion4. Filecoin Coinmarketcap Ticker: FIL2022 Losses: -92%Market Value: $1.0 billion3. NEAR Protocol Coinmarketcap Ticker: NEAR2022 Losses: -92%Market Value: $1.1 billion2.
HEX Coinmarketcap Ticker: HEX2022 Losses: -93%Market Value: $3.2 billion1. Solana CoinMarketCap Ticker: SOL2022 Losses: -95%Market Value: $3.5 billion