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

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

The larger-cap coins are faring better than most. Among the top 10 cryptocurrencies by market capitalization, nine have dipped less than 90% during the current market downturn. Bitcoin (BTC), the largest crypto, is down 70.3% from its November 2021 high of $ 69,000. In second place is Ether (ETH), which is down 78% from its high of $ 4,878.

Others in the top 10 include Binance’s BNB, Cardano’s ADA, Solana’s SOL and Polkadot’s DOT, which are down between 68% and 88%. The list excludes the stablecoins Tether (USDT), USD Coin (USDC) and Binance USD (BUSD). XRP is the exception, falling 90.56% from its all-time high.

The average fall from ATH for these top 10 coins is 79%. 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 Unus Sed Leo (LEO), which has only fallen 38.87% and 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.

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

The utility token for the KuCoin trading platform, KuCoin Token (KCS), has seen a 61.43% drawdown from its ATH. KCS is an ERC-20 token 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 to more than 60% below its ATH if Cointelegraph’s June 12 predictions prove correct.

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 ‘should not be like that’

BTC is currently trading at $ 20,486 after 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, Pax Dollar (USDP), Pax Gold (PAXG), Compound Dai (CDAI) and Tether Gold (XAUT). . TrueUSD (TUSD) recorded a 38.4% deviation from its peg in 2018.