72 Of The Top 100 Cryptocurrencies Are Down 90% Or More: Here Are The Coins With Smaller Declines

According to CoinGecko price data compiled by CoinGoLive, 72 of the top 100 coins are down more than 90% from their all-time highs in the current bear market.

Coins with larger market caps are doing better than most. Nine of the top 10 cryptocurrencies by market capitalization are down less than 90% during the current market downturn. Bitcoin, the largest cryptocurrency, is down 70.3 percent from its November high of $69,000. In second place is Ethereum, down 78% from a high of $4,878.

Other coins in the top ten include Binance Coin (BNB), Cardano (ADA), Solanacoin (SOL) and Polkadot (DOT), which are down between 68% and 88% (excluding USDT, USDC and BUSD three stablecoins). Ripple (XRP) is an exception, down 90.56% from its all-time high.

The top ten cryptocurrencies are down an average of 79% from their all-time highs, while the top twenty cryptocurrencies are down an average of 81.1% from their all-time highs.

Exchange tokens appear to be doing better than many other areas, down an average of 68.3% from their all-time highs.

The best performer of the bunch was the LEO token, down just 38.87%, with Cointelegraph reporting that the token “saw aggressive buying at lower levels” on June 13. LEO is an Ethereum-based utility token used on the Bitfinex exchange and iFinex-managed trading platforms to reduce fees for traders.

FLEX, the native token of the Coinflex exchange, ranks 83rd. It also appears to be relatively immune to this fatal flaw, down just 38.6% from its all-time high. FLEX is used to pay transaction fees and reduce transaction fees on its trading platform. The project cites its token burn mechanism as one of the reasons for its price resilience.

KuCoin’s utility token KCS is down 61.43% from its all-time high. KCS is an ERC-20 token used to reduce fees on exchanges and is the native token of KuChain, the blockchain developed by the exchange.

However, if Cointelegraph’s June 12 prediction is correct, KCS could fall further by more than 60% from its all-time high.

Many cryptocurrencies have seen a large portion of their losses over the past week, with the total cryptocurrency market capitalization dropping 24% from $1.3 trillion to $996 billion. During this period, BTC also fell from $30,500 to $20,216 on June 15, a drop of about 35%.

Stablecoins, by the way, have not been immune to the decline, despite being theoretically stable. Since 2018, several stablecoins including USDT, USDC, BUSD, DAI, FRAX, USDP, PAXG, CDAI, and XAUT have fallen between 10% and 30%. In 2018, TUSD decoupled from the US dollar by 38.4%.