The crypto market witnessed a massive bull market in 2021, but this year has been different so far. The market has dropped by more than 50% from its November high last year. Only a few cryptocurrencies have posted a positive return this year, while many cryptocurrencies have lost more than half their value, including Bitcoin. Such a drop offers investors an opportunity to buy promising coins at a reduced price. Let’s take a look at the ten worst performing cryptocurrencies in H1 2022.
Ten Worst Performing Cryptocurrencies In H1 2022
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Launched in 2021, it is a decentralized blockchain network that aims to expand the boundaries of internet functionality and support smart contract development. It is working on using the Chain Key Technology to extend the current public internet. ICP is up by almost 17% in the last 30 days but is down by over 60% in the last 90 days. As of writing, ICP was trading at $6.61, and had a market cap of more than $1.62 billion.
Launched in 2011, it is a blockchain-based virtual world that enables users to develop, buy and sell digital assets in the form of a game. SAND utility token facilitates transactions on the platform. SAND is up by over 8% in the last 30 days but is down by almost 59% in the last 90 days. As of writing, SAND was trading at $1.15, and had a market cap of more than $1.44 billion.
CRO is the native currency of Cronos Chain, which is a decentralized, open-source blockchain from the Crypto.com payment. Cronos aims to offer utility to the users of Crypto.com, which is a payment, trading and financial services company. CRO is down by almost 23% in the last 30 days and by almost 72% in the last 90 days. As of writing, CRO was trading at $0.1168, and had a market cap of more than $2.95 billion.
Launched in 2020, it is an open-source project that provides a decentralized finance (DeFi) solution. Its proof-of-history (PoH) consensus allows for greater scalability of the protocol, and this, in turn, boosts usability. SOL is up by over 5% in the last 30 days but is down by almost 67% in the last 90 days. As of writing, SOL was trading at $35.26 and had a market cap of more than $12.20 billion.
Launched in 2017, it is a platform for Ethereum scaling and infrastructure development. This Layer 2 scaling solution assists in transforming Ethereum into a full-fledged multi-chain system. MATIC is up by over 1% in the last 30 days but is down by almost 61% in the last 90 days. As of writing, MATIC was trading at $0.5809, and had a market cap of more than $4.65 billion.
Launched in 2019, it is a self-sustaining, decentralized, blockchain-based network that is secure, scalable and efficient. It aims to speed up transactions and improve efficiency. ALGO is down by over 14% in the last 30 days and by almost 59% in the last 90 days. As of writing, ALGO was trading at $0.3028, and had a market cap of more than $2.11 billion. It has an all-time high of $3.28 (June 2019) and an all-time low of $0.1024 (March 2020).
It is a fast, decentralized, and developer-friendly blockchain. The FLOW token works as a payment method and as a long-term reserve asset for the Flow economy. FLOW is down by over 26% in the last 30 days and almost 73% in the last 90 days. As of writing, FLOW was trading at $1.57, and had a market cap of more than $1.62 billion. It has an all-time high of $46.16 (April 2021) and an all-time low of $1.17 (June 2020)
Launched in 2020, it is a decentralized storage system that works as a peer-to-peer storage network. It gives incentive to members to act honestly and store as much data as possible. FIL is down by over 17% in the last 30 days and over 72% in the last 90 days. As of writing, FIL was trading at $5.34, and had a market cap of more than $1.23 billion.
Created in 2018, it is a blockchain-based trading and battling game that is inspired by games like Pokémon and Tamagotchi. The game allows players to collect, breed, raise, battle and trade token-based creatures. AXS is down by almost 18% in the last 30 days and almost 71% in the last 90 days. As of writing, AXS was trading at $13.95, and had a market cap of more than $1.15 billion.
Launched in 2020, it is a layer one blockchain that serves as a platform for custom blockchain networks, as well as DApps (decentralized applications). It aims to address the blockchain trilemma. AVAX is down by almost 14% in the last 30 days and over 76% in the last 90 days. As of writing, AVAX was trading at $18.18, and had a market cap of more than $5.17 billion. It has an all-time high of $146.22 (Nov. 2021) and an all-time low of $2.79 (Dec. 2020)
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