Forget Bitcoin, Solana and Luna Are 2022 Crypto Losers. Dogecoin Was a Winner.
Few cryptocurrencies have had a good 2022, but some have done much worse than others—and a couple unlikely “altcoins” or smaller tokens even eked out an outperformance.
The market capitalization of cryptos has tumbled below $800 billion this year, a far cry from the near-$3 trillion in notional value seen during the November 2021 peak for digital assets.
Bitcoin
the biggest of the bunch, has lost more than 75% over the same period. A selloff across wider assets—spurred by rising interest rates, among other factors—has been largely to blame, but cracks within the crypto market and a string of industry failures have exacerbated losses.
