As the crypto prices continue to fall, investors start getting nervous. Want to know which are the 10 worst performing cryptocurrencies?
The year 2022 is also noted as the best year for cryptocurrencies. Every day, millions of people worldwide use cryptocurrencies to make ordinary transactions like buying groceries.
Predominantly hype-driven cryptocurrencies, such as Shiba Inu & Dogecoin, led the market expansion efficiently. The live past year has seen cryptocurrencies such as Bitcoin and Ethereum attract many investors looking for a break from traditional investments.
However, the decline of cryptocurrency prices has made investors worry about the quality of cryptocurrencies, which has resulted in some cryptocurrency dumping. Recently, there have been reports that the performance of some cryptocurrencies is getting worse and worse. I will introduce a few of them below.
Filecoin
Filecoin is a decentralized storage service well-received since its initial coin offering in 2017 and presold date in 2019.
However, the release date for Filecoin’s network is most likely until mid-October 2020. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network.
Hedera
Hedera is the most used, sustainable, enterprise-grade public network for decentralized economies that allows individuals and businesses to create powerful decentralized applications.
Hedera is designed to be an improved blockchain-based system, which is better than older systems due to faster data processing and a higher level of stability.
Theta
The video delivery network is powered by blockchain technology. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.
In the past 7 days, the price of Theta Network has fallen by 14.79%. The price declined by 2.70% in the last 24 hours. Just at the last hour, the price shrunk by 0.82%.
Helium
Helium is a decentralized blockchain-powered network for Internet of Things (IoT) devices.
Helium launched in July 2019 and has been popularised for its capability to send data wirelessly. Helium makes use of low-powered nodes that talk to each other on its network.
Last seven days, helium has fallen in price by 13.55%. The price declined by 0.65% in the last 24 hours. In just the past hour, the price shrunk by 0.03%.
THORChain
THORChain is a decentralized protocol that can help you trade cryptocurrencies without worrying about protecting your assets.
The price of THORChain has fallen 14.36% in the past 7 days. The price declined by 2.44% in the last 24 hours.
Fantom
Fantom is an innovative contract platform that uses a custom consensus algorithm. The primary purpose of the algorithm is to provide developers with decentralized services.
Fantom’s in-house Token, FTM, solves the transaction speed problem on smart contract platforms. Typically these platforms have long transaction processing times which can discourage their usage.
Fantom has gained 26.43% in 7 days. The price declined by 4.62% in the last 24 hours.
Loopring
Loopring is an open protocol for creating decentralized crypto exchanges.
The goal of this cryptocurrency is to combine the options of centralized and decentralized exchanges to promote the protocol that has its benefits by eliminating inefficiencies through collective consensus.
Right now, buying and selling are around US$0.689. The price is currently at US$3.83, and the lowest it has ever been was US$0.01986
Waves
Waves is a blockchain platform for creating DApps and smart contracts. Waves were launched in June 2016 and have constantly been improving ever since. Waves’ native token WAVES helps make standard payments such as block rewards
WAVES is down close to 20% in the last 90-day period and has been down over 10% during the previous seven days. It has had its all-time high of $62.36 (March 2022) and its all-time low of $0.1227 (August 2016).
Celo
Launched in April 2020, Celo is a blockchain ecosystem that focuses on boosting cryptocurrency adoption amongst smartphone customers. The app uses your phone number as a public key so you can transact in cryptocurrencies from your phone.
Over the last 30 days, the rate has been down by nearly 18%; right now, it is trading at around US$2.646. It has an all-time high of US$10.66 (August 2021) and an all-time low of US$0.7955 (Could 2020)
Curve DAO Token
A decentralized exchange that utilizes a market maker mechanism to provide liquidity was launched in January 2020. Stablecoins are emerging as the next best thing in the crypto sphere.
Its native token is used for governance, together with rewarding customers relying on their liquidity dedication and size of possession. At the moment, the token can be bought and sold for around $2,008. The price dropped from US$60.50 in August 2020 down to as low as US$0.3316 in October 2020
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