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Thursday, February 2, 2023

Top 10 Worst Performing Cryptocurrencies of June 2022

Explore the worst performing cryptos in the past month looking at their price change or growth

With more than 19,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US exchange-listed stocks. That massive amount of supply makes it nearly impossible to keep track of all the big movers in the crypto sector outside of well-known coins like bitcoin, ether, and dogecoin. The surge in new crypto coins came amid a massive bull market for the sector in 2021, but a more than 50% decline in bitcoin from its November high is challenging the space, especially in smaller coins that saw extraordinary gains last year like Solana, Cardano, and Polkadot. This article explores the worst performing cryptos in the past month looking at their price change or growth.

The Sandbox

Launched in 2011, Sandbox is a blockchain-based virtual world that enables users to design, develop, buy and sell digital assets in the form of a game. Sandbox uses decentralized autonomous organizations (DAOs) and non-fungible tokens (NFTs) to create a decentralized platform. SAND is down by over 23% in the last 30 days and is currently trading at around US$2.778. It has an all-time high of US$8.44 (November 2021) and an all-time low of US$0.02894 (November 2020).

Theta

Theta is a blockchain-powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis. The price of Theta Network has fallen by 14.79% in the past 7 days. The price declined by 2.70% in the last 24 hours. In just the past hour, the price shrunk by 0.82%.

Filecoin

Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised US$205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network.

Hedera

Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face such as slow performance and instability.

THORChain

THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process. The price of THORChain has fallen by 14.36% in the past 7 days. The price declined by 2.44% in the last 24 hours.

Helium

Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes. The price of Helium has fallen by 13.55% in the past 7 days. The price declined by 0.65% in the last 24 hours. In just the past hour, the price shrunk by 0.03%.

Loopring

Loopring is an open protocol for creating decentralized crypto exchanges. This cryptocurrency’s goal is to convey collectively the options of centralized and decentralized crypto exchanges to develop a protocol with its distinctive benefits while eliminating inefficiencies.  At the moment buying and selling are at around US$0.689. It has an all-time excessive of US$3.83 (November 2021) and an all-time low of US$0.01986 (December 2019)

Aave

Aave was originally launched in November 2017 as ETHLend but was rebranded to Aave in September 2018. Aave is mainly a decentralized finance protocol that allows users to lend and borrow cryptocurrency. AAVE is down by over 19% in the last 30 days and is currently trading at around US$114.60. It has an all-time high of $666.86 (May 2021).

Celo

Launched in April 2020, Celo is a blockchain ecosystem that focuses on boosting cryptocurrency adoption amongst smartphone customers. It makes use of telephone numbers as public keys to allow smartphone house owners to transact in cryptocurrency. It is down by nearly 18% within the final 30 days and at the moment is buying and selling at around US$2.646. It has an all-time high of US$10.66 (August 2021) and an all-time low of US$0.7955 (Could 2020).

Curve DAO Token

Launched in January 2020, is a decentralized change for stablecoins that makes use of an automatic market maker (AMM) to handle liquidity. Its native token is used for governance, together with rewarding customers relying on their liquidity dedication and size of possession. At the moment it is buying and selling at around US$2.008. It has an all-time low of US$60.50 (August 2020) and an all-time low of US$0.3316 (October 2020).

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

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