BNB Leads, Bitcoin Placed Second Among the Top Ten Crypto Assets in Q2

BNB Leads, Bitcoin Placed Second Among the Top Ten Crypto Assets in Q2

The second quarter of 2022 indicates that the crypto economy has tumbled significantly in value, and crypto tokens in the top ten market positions have lost 30% to 60% in USD value during the past three months. The Q2 data further shows that Binance coin managed to avoid the losses its competitors have taken, and Solana was the worst market performer out of the top ten crypto assets by market capitalization.

There Were Significant Losses Across the Top Ten Crypto Assets

The second quarter has seen numerous crypto assets within the digital currency economy at much lower values than they were three months ago. During the second quarter of 2022, Bitcoin (BTC) lost 42.92% of its value against the U.S. dollar.

Ethereum (ETH), the second-largest crypto asset by market capitalization, has dropped 47.24% in the last three months. While much of the crypto economy’s losses stemmed from the two crypto assets, several top digital currencies have shed massive value.

The Binance Smart Chain Network’s BNB is down 33.67% in Q2, which makes BNB the best performer during the second quarter among the top ten crypto assets. BTC’s 42% plunge was the second best market performance out of the top ten, while Cardano (ADA) managed to capture the top ten’s third best position for market performance in Q2.

ADA lost 45.49% in value against the U.S. dollar in three months. XRP fell 48.99% in Q2, while DOGE fell 48.51%. Solana (SOL) was the top ten’s worst market performer as it lost 59.19% during 2022’s second quarter.

In the Second Quarter, the Crypto Economy lost USD 930 billion

Most of Q2’s top-performing crypto assets that are not in the top ten positions were relatively unknown digital currencies. The largest gains recorded in Q2 were captured by tokens like smartofgiving (AOG), followed by pitbull (PIT), and bosagora (BOA). The worst performers in Q2 included bluesparrow, piedao, terra luna classic, and wrapped terra luna classic.

Hundreds of coins out of the 13,414 crypto assets that traded on 514 exchanges worldwide have lost more than 90% in value in Q2. A few crypto assets managed to perform well compared to the hundreds of coins that lost value during the second quarter. It is estimated that in the last three months, USD 930 billion has been wiped out of the crypto economy.