Top 10 Best and Worst-Performing Cryptocurrencies of 2022

Based on YTD return, the top best and worst performing cryptos are listed in this article

The overall performance of the 100 best-performing cryptocurrencies tracked by the Cryptoindex.com 100 (CIX100) declined by roughly 68% YTD, indicating that most of the top coins underperformed in 2022. This article looks back on the best and worst-performing cryptocurrencies of 2022. The highest and lowest year-to-date (YTD) results through December 25, 2022, were used.

1. GMX :

The best-performing digital asset among the top 100 coins is the GMX token, with a YTD return of 111%, which serves as both a utility and a governance token within the GMX decentralized exchange (DEX) ecosystem (excluding stablecoins). GMX has a market cap of $379.4 million.

2. Trust Wallet Token (TWT):

Trust Wallet Token has a YTD return of 92% and a market Cap $570 million. Within the Trust Wallet ecosystem, Trust Wallet Token (TWT) performs the functions of a governance and utility token. The token declined along with the rest of the crypto market, mainly in 2022, but similar to GMX, its upward speed accelerated upon the November collapse of the FTX exchange.

3. Unus Sed Leo (LEO):

The iFinex ecosystem is home to Unus Sed Leo (LEO). The token saw losses in 2022, but at -3.5 percent, they paled in comparison to those of the majority of prominent coins, including Bitcoin, which lost more than 65% during that time. With a market cap of $3.44 billion LEO has a -3.5% of YTD return. LEO’s price rose during the rally, reaching a YTD high of $8.15 in February. The token has now decreased by 55%, yet it is still expected to be one of the top performers in 2022.

4. OKB (OKB):

It has a YTD return of 19% and $1.38 billion Market cap. The native token of the OKX exchange is called OKB. It gives customers access to OKX’s initial exchange offering (IEO) platform, trading fee savings, and voting privileges for tokens that will be listed on the exchange. Overall, compared to other top-ranked assets, OKB’s erratic rebound helped it keep its YTD losses under control.

5. The Open Network (TON)

YTD return: -33.5%

Sector: Smart contracts

Market Cap: $3.52 billion

The Open Network is a layer-1 blockchain ecosystem created by Nikolai Durov and Pavel Durov, the co-founders of Telegram. For the majority of 2022, its native token, TON, trended downward in line with other leading cryptocurrencies, but it significantly recovered before the year’s end. The TON recovery period was accompanied by a string of positive press.

Worst five cryptos of 2022

1. Terra (LUNA)

YTD performance: -99.99%

Sector: Smart contracts

Market Cap: $604 million

After its market valuation fell by 99.99% in May, Terra turned into an embarrassment for the cryptocurrency industry. One of the largest flops in the history of the cryptocurrency industry, Terra’s algorithmic stablecoin TerraUSD (UST), caused the unravelling to begin.

2. FTX Token (FTT)

YTD performance: -98%

Sector: Centralized exchange

Market Cap: $307 million

FTX Token was FTX’s native token until it failed due to a liquidity issue in November. The cryptocurrency still trades on a number of platforms, albeit with little volume and liquidity. Given that FTX is no longer in operation, it is considered to be “dead.”

3. Solana (SOL)

YTD performance: -93.35%

Sector: Smart contracts

Market Cap: $4.11 billion

The layer-1 blockchain protocol Solana plummeted 93.35% YTD as a result of a slew of unfavourable news stories in 2022. This includes six network disruptions during the year, a wallet headquartered in Solana that was breached for $200 million, and Solana’s connection to FTX. The allegations that Solana is not as decentralized as it claims to be led to more negative press, making SOL one of the worst-performing stocks of 2022.

4. Axie Infinity (AXS)

YTD performance: -93%

Sector: Gaming/metaverse

Market Cap: $775 million

Due to a lackluster player attendance in 2022 (which reduces the demand for tokens), a $650 million hack involving Axie Infinity’s blockchain Ronin in late March, and concerns over the unlocking of 8% of supply in October, the AXS market has persistently trended lower. AXS has experienced a YTD decline of around 93%, making it one of the worst-performing assets in the current bear market.

5. The Sandbox (SAND)

YTD performance: -92.50%

Sector: Gaming/metaverse

Market Cap: $690 million

The Sandbox is a virtual platform, similar to Axie Infinity, where users may develop, own, and monetize their gaming abilities using NFTs and The Sandbox, the platform’s utility token. However, despite its initial popularity, DappRadar data shows that the site today only has 500 or fewer unique users.