Top 5 Cryptos Taking A Major Beating In The Ongoing Market Mayhem


The top 5 cryptocurrencies featured in this article today are being hit hard by the ongoing market hoopla.

Led by Bitcoin and Ethereum – two of the largest cryptocurrencies by market capitalization – these five digital currencies have grabbed the headlines lately.

Investors are now wondering when the recovery will take place, as losses continue to mount, stirring tension across the broader crypto space and dampening investor spirits.

Here is a quick look at the top 5 cryptocurrencies and how much they have lost so far:

1 – Bitcoin (BTC)

Bitcoin takes the position of the top 5 cryptocurrencies with the most losses. Bitcoin is the largest and most popular cryptocurrency in the world. In November last year, BTC topped the $1.27 trillion market cap when a single unit reached an all-time high of $69,000.

As of this writing, the price of Bitcoin is around $20,000. This year, it has lost 57.23 percent of its value. Bitcoin held $20,000 for another day on Thursday, despite calls for a 20 percent drop.

Bitcoin has lost 57.23 percent of its value. Image: Coingape.

2 – Ether (ETH)

Ether (ETH) – which ranks second on this list – fell below $1,000 for the first time this month after rising 386 percent in the previous year, reaching a record high of $4,812 in November 2021.

ETH, the world’s second largest cryptocurrency with a market capitalization of $134 billion, has lost 70 percent of its value since the beginning of the year as of June 23.

This year, Ether has faced the same fate as Bitcoin and many other cryptocurrencies, bringing its price to its lowest level since January 2021.

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3 – Solana (SOL)

Solana has lost 78 percent of its value this year, trading at $36.28 as of Thursday, a far cry from its November 2021 high of $258. Solana (SOL) is the ninth largest cryptocurrency by market capitalization, with a value of $12.46 billion.

In the past 24 hours, SOL has lost 0.51 percent of its market value. The daily trading session saw a 9.30 percent drop in trading volume.

Crypto total market cap at $932 billion on the daily chart | Source: TradingView.com

4 – Terra (Luna)

On April 4, Luna reached an all-time high of $116, with a market capitalization of over $40 billion. During the period May 4-12, the price of the coin dropped from $86 to $0.0041.

Du Kwon, co-founder of Terraform Labs, told The Wall Street Journal this week that he lost nearly all of his fortune in the market crash. As of Thursday, LUNA is currently valued at $0.00005682 and has been renamed Terra Classic.

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5 – TerraUSD

Last month, TerraUSD fell below the US dollar, and attempts to bring it back to the $1 price failed. It fell to $0.69 before entering what’s known as the “death spiral” and lost all of its value. LUNA now lies within the five decimal points next to zero.

Bloomberg reported on June 9 that the US Securities and Exchange Commission is examining whether marketing TerraUSD prior to its collapse violates federal investor protection requirements.

Featured image from Analytics Insight, chart from TradingView.com



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