Crypto’s Bear Market Casualties: High 15 Cash Down from All-Time Highs

The cryptocurrency market is arguably the world’s most risky digital belongings ecosystem. Historic knowledge replicate a traditional division of the crypto market into two seasons: the bullish and the bearish seasons.

Most cryptocurrencies usually spend extra time within the bearish season, with momentary rallies offering buyers profit-making alternatives. They’ll lose important worth throughout such durations, leaving merchants and buyers with blended emotions. 

Whereas some buyers panic and concern the potential extinction of cryptos throughout bear markets, others see the falling costs as a chance to purchase cryptos at cheaper costs, hoping to make important good points when the bull market returns.

Right here’s a listing of the highest 15 cryptocurrencies ranked by how a lot their costs have fallen from all-time highs.

JasmyCoin (JASMY)

JasmyCoin is a Japan-based blockchain mission that offers customers management over their knowledge. It permits them to monetize that knowledge by storing it in knowledge lockers the place retailers have to pay to entry it.

JASMY is the largest loser within the present bear market after dropping 99.6% from its all-time excessive (ATH). The altcoin surged to $4.79 shortly after it launched in February 2021 earlier than dropping sharply in the course of the bear market that adopted. CoinGecko’s knowledge exhibits JASMY traded for $0.02074 on the time of writing. 

Web Pc (ICP)

ICP is the second most’ bearish crypto token, in response to knowledge from CoinGecko. The “World Pc” blockchain’s native token dropped from a $700.65 ATH in Might 2021 to commerce for $7.14 on the time of writing, reflecting a 99% drop in worth. ICP’s value drop was sharp, and the altcoin has traded beneath $50 since November 2021.

Filecoin (FIL)

At $3.69, Filecoin has misplaced 98.4% worth from its ATH. The native coin of the decentralized IPFS protocol reached an ATH of $236.84 in Might 2021 earlier than a pointy pattern reversal in the course of the 2021 bear market. The downtrend continued for the previous few years, leaving FIL to commerce for $3.69 on the time of writing, per CoinGecko’s knowledge.

EOS’ 97.8% drop places the blockchain protocol’s native coin among the many high losers per ATH worth. EOS rallied to $22.71 in 2018, marking its highest-ever worth. A value surge in the course of the 2021 bull run didn’t match the earlier bull run’s worth. As an alternative, EOS’ value dropped alongside different cryptocurrencies to commerce for $0.4983 on the time of writing.

Axie Infinity (AXS)

Axie Infinity gained important adoption in 2021 following the hype round decentralized blockchain gaming. Many crypto customers explored the gaming protocol for important income, which led to a spike within the worth of its native token. AXS surged to $164.9 in the course of the 2021 bull run earlier than crashing. The blockchain gaming altcoin has misplaced 97.7% worth from its ATH and traded for $4.69 on the time of writing.

Algorand (ALGO)

A 96.7% drop from ATH places Algorand among the many high losers within the crypto market’s present local weather. ALGO’s value topped out at $3.23 in June 2019 earlier than nose-diving. Regardless of re-surging in 2021, ALGO reached a seasonal excessive of $2.66 and reversed downwards with the next bear pattern. CoinGecko’s knowledge exhibits ALGO traded for $0.1181 on the time of writing.

NEO, a blockchain protocol for working sensible contracts and decentralized functions, gained important adoption in 2018, with its native token’s value rallying to $198.38 to mark an ATH. The worth dropped shortly after spiking, with an try at restoration in the course of the 2021 bull run. Nevertheless, NEO’s value has since dropped to $9.36 on the time of writing, reflecting a 95.3% decline from its ATH.

The Graph (GRT)

GRT has misplaced 95% worth since reaching a $2.84 ATH in 2021. The Ethereum-based crypto token made a number of makes an attempt at restoration on its manner down however continued in an general downward pattern alongside most cryptocurrencies. CoinGecko’s knowledge exhibits GRT traded for $0.1401 on the time of writing.

VeChain (VET)

VET’s rally to $0.27983 in April 2021 marks the cryptocurrency’s ATH, as the worth reversed after a exceptional rally, dropping in the course of the bear market that adopted. VET has misplaced 94.8% of its highest-ever worth regardless of making just a few makes an attempt to climb greater. The crypto’s value on the time of writing was $0.02282, in response to knowledge from CoinGecko.

Polkadot (DOT)

DOT was one of many best-performing blockchain tokens in the course of the 2021 bull run, making two important back-to-back rallies earlier than the cycle’s finish. The primary rally noticed DOT surge to $49.78 in Might, earlier than dropping considerably forward of a second rally by the top of the yr that pushed the altcoin’s value to a $55.09 ATH. DOT’s value decline adopted the rally and has lasted just a few years. The once-vibrant altcoin has misplaced 91.8% of the worth from its ATH to commerce for $4.47 on the time of writing, per CoinGeko’s knowledge.

Hedera (HBAR)

HBAR’s 90.8% decline from its ATH places it among the many high 15 cryptos with probably the most important drops from their ATH. HBAR attained a exceptional $0.576 value over the last bull cycle earlier than heading for a decline. The bear market pushed the decentralized public community’s native token to a considerably low degree, leaving it to commerce for $0.05205 on the time of writing.

Fantom (FTM)

FTM, the native token of the layer-1 EVM-compatible Fantom blockchain, spiked remarkably in direction of the top of the 2021 bull cycle. The revolutionary blockchain token reached an ATH of $3.4842 earlier than heading south, regardless of notable makes an attempt at returning to the upward path. At a present value of $0.3378, FTM has misplaced 90.1% worth from its ATH to hitch the highest losers within the present crypto market period.

Cardano (ADA)

Cardano’s ADA falls among the many cryptocurrencies which have skilled important losses from their ATH. At its present $0.3335 value, ADA is 89.1% quick in worth from its ATH. The Proof-of-Stake blockchain community made waves when its native token’s value surged to $3.1010 in 2021. Nevertheless, ADA didn’t maintain that value degree for lengthy, because it declined virtually instantly in a traditional bear pattern.

Cosmos Hub (ATOM)

The Cosmos Hub native cryptocurrency, ATOM, has misplaced 88.8% worth from its highest-ever value, which it achieved over the last bull cycle. ATOM rallied to $44.8 in 2021 and made efforts to stay inside that value zone earlier than declining. The worth has since dropped with ATOM recording its worst interval between April and Might 2022. The altcoin traded for $4.93 on the time of writing, in response to CoinGecko’s knowledge.

Stellar (XLM)

XLM can be 88.8% away from its ATH, just like ATOM. The altcoin surged to $0.798 on the peak of the 2021 bull cycle earlier than embarking on a direct decline. After virtually three years, XLM’s value has dropped to $0.09799, qualifying it as one different altcoin that has declined considerably from its ATH.

Conclusion

It’s essential to notice that it’s not all gloom for the listed altcoins, contemplating how most merchants view market declines of such a nature. Most skilled merchants contemplate such a decline a blessing in disguise. From their perspective, falling costs present higher entry alternatives out there. Additionally, the downtrend leaves landmarks that could possibly be useful for market evaluation and predictions when it comes to historic assist and resistance.

Moreover, with the crypto business nonetheless in its early levels, many customers imagine the prevailing all-time highs for many cryptos are potential targets for when the bull cycle returns. Paradoxically, many analysts imagine the additional an altcoin declines from its ATH, the extra potential it has for revenue.