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Top 10 Large-Cap Cryptocurrencies, Dogecoin Performs Worst

Viva Budy Kusnandar 18/05/2022 15:30 WIB

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The largest capitalization cryptocurrency to record the deepest decline is Dogecoin, which has plummeted 86% in the past year to May 18, 2022.

Movement of 10 Big-Cap Cryptocurrencies in the Last Year (May 18, 2022*)

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Movement of 10 Big-Cap Cryptocurrencies in the Last Year (May 18, 2022*)

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The golden age of cryptocurrencies, which lasted throughout 2021, appears to be over.

Since the end of last year, the value of these digital currencies has been trending downwards, coinciding with rising commodity prices and the threat of high interest rates.

In the first few months of 2022, investors continued to gradually withdraw from risky assets like crypto, shifting their portfolios to safer assets such as commodities and bonds.

Bitcoin (BTC), the barometer of crypto assets, has shrunk by 28.53% to Rp438.84 million per coin in Wednesday's (May 18, 2022) trading compared to a year earlier.

The price of the BTC coin reached its highest level of Rp983.87 million per coin in early November 2021. Now, the price of Bitcoin has fallen by more than half.

The large-cap cryptocurrency that recorded the deepest decline is Dogecoin.

The DOGE coin has plummeted 86.69% in the last year, reaching Rp1,304.9 per coin as of Wednesday (May 18, 2022).

The next biggest-cap crypto asset with the deepest decline is Polkadot (DOT), at 73.35%, reaching Rp155,150 per coin.

Followed by XRP (XRP), which fell by 72.31% to Rp6,308.7 per coin, Cardano (ADA) down 71.25% to Rp8,254.41 per coin, and BNB (BNB) down 39.28% to Rp4.42 million per coin.

Ethereum (ETH) also recorded a decrease of 38.08% to Rp29.95 million per coin.

Avalanche (AVAX) fell 7.1% to Rp492,020 per coin, and Tether (USDT) corrected 6.91% to Rp14,663.62 per coin.

Meanwhile, Solana (SOL) still recorded an increase of 1.41% in the last year, reaching Rp812,000 per coin.

Here is a list of cryptocurrencies with the largest market capitalization as of Wednesday (May 18, 2022):

* Bitcoin (BTC): Rp8,338.30 trillion
* Ethereum (ETH): Rp3,612.70 trillion
* Tether (USDT): Rp1,087.10 trillion
* BNB (BNB): Rp721.60 trillion
* XRP (XRP): Rp305.10 trillion
* Cardano (ADA): Rp278.00 trillion
* Solana (SOL): Rp274.00 trillion
* Dogecoin (DOGE): Rp172.00 trillion
* Polkadot (DOT): Rp152.90 trillion
* Avalanche (AVAX): Rp132.00 trillion

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."