According to the price data from CoinGecko, which was compiled by CoinGoLive, in this bear market 72 of the top 100 tokens/coins have lost more than 90% of their value from their all-time highs.
It appears from the data that the highest capitalization coins are outperforming the rest. Indicative of this is the fact that among the top 10 cryptocurrencies in terms of market capitalization, nine have declined less than 90% during the current market downturn.
Bitcoin (BTC), the largest cryptocurrency, fell 70.3% from its November 2021 high of $69,000. In second place is Ethereum (ETH), which fell 78% from its high of $4,878. Of the remaining top ten, Binance’s BNB, Cardano‘s ADA, Solana’s SOL and Polkadot’s DOT declined between 68% and 88%.
The list does not include the stablecoins Tether (USDT), USD Coin (USDC) and Binance USD (BUSD), with XRP being the exception as it recorded a 90.56% drop from its all-time high.
The average drop from the record high for these top 10 currencies is 79%.
The exchange tokens
Exchange tokens seem to be doing better than many other sectors, with an average drop of 68.3% from their record highs.
The best performer in this category is Unus Sed Leo (LEO), which is down just 38.87%. LEO is the token of an Ethereum-based utility for exchange platforms, Bitfinex and managed by iFinex. It is used to reduce fees for traders.
The exchange’s FLEX token, CoinFLEX, is the 83rd largest cryptocurrency and looks particularly resilient as it recorded a drop of just 38.6% from its record high. FLEX is used to pay for transactions and reduce transaction fees on the trading platform. The project touts the contract burning mechanism as a reason for its resilience.
The KuCoin trading platform’s utility token, the KuCoin Token (KCS), has retreated 61.43% from its record high. KCS is an ERC-20 token, used to reduce fees on the exchange and is also the token for KuChain, a blockchain developed by the exchange.
The biggest drop last week
Many cryptocurrencies experienced much of their losses last week, as the total cryptocurrency market capitalization dropped by 24%, from $1.3 trillion to $996 billion. In that time, BTC fell about 35% from $30,500 to $20,216 on June 15.
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