By Jamie Redman
Digital currencies had a phenomenal year, and a great deal of the crypto assets in existence reached all-time high (ATH) prices against the world’s fiat currencies. However, the same digital currencies that tapped ATHs last year are currently down a great deal in value, as numerous cryptocurrencies have lost 30% or more since 2021’s price highs.
Crypto Values Are Lower Than Last Year’s Price Highs
2021 was a good year for crypto assets as numerous blockchain networks swelled in fiat value as billions upon billions were added to the alternative digital economy. Bitcoin (BTC) broke its previous ATH recorded in December 2017 at the end of 2020, when it surpassed the $20K per unit zone.
BTC’s price continued to rise higher into 2021 and eventually, it tapped a high of $64K per unit. Furthermore, on November 10, 2021, the price of bitcoin jumped to the $69K zone but today the price is 39% lower.
A myriad of crypto assets today are in the same boat as BTC, as they reached ATHs at some point last year, but have since shed at least 30% or more in fiat value. Ethereum’s (ETH) value skyrocketed to an ATH sixty days ago touching $4,847 but has since lost 35.46%.
Binance coin (BNB) hit an ATH last year but it was eight months ago and today, it’s 34% down from the $689.92 per coin price it once held. Two months ago, solana (SOL) reached a high of $258.93 per coin, and today SOL is lower than that price by 47%.
Different Percentage Losses, Time Frames, and Crypto Tokens That Staved Off the Losses
Most of the leading crypto assets, in terms of market capitalization, have a wide array of differing percentage losses since their 2021 ATHs. Cardano (ADA), for instance, is down 62.78% since touching $3.10 per coin four months ago.
Other crypto assets have either shorter time frames or much longer time frames since their ATHs. Xrp (XRP) for example, is one of the only top ten leaders that did not hit an ATH last year. The digital currency xrp touched its ATH four years ago when it reached $3.30 per coin.
Polkadot (DOT) touched its all-time high two months ago when it reached $54.98 per coin and today, it is down 55.9%. Meanwhile, Terra’s (LUNA) ATH is much closer as LUNA tapped its ATH 16 days ago when it hit $102.63 per unit. LUNA is down 29.51% from the crypto asset’s ATH.
Plenty of crypto assets below the top ten are down significantly, but a few have managed to remain high. Near protocol (NEAR) is only down 6.96% as it reached an ATH of $17.52 per unit seven days ago. Furthermore, the crypto asset issued by Bitfinex, Unus Sed Leo (LEO) is only down 9.75% from eight months ago.
What do you think about the crypto assets in the top ten and how far down they are from their all-time price highs?