Technology

Only 6 top 100 cryptocurrencies are in profit this 2022 (bitcoin is not one of them)


Key facts:
  • The most prominent of the list is LEO, the token of the Bitfinex exchange.

  • Neither Shiba Inu, ether, solana or the Axie Infinity token are saved.

The cryptocurrency market usually dances to the beat imposed by bitcoin (BTC). But despite the fact that the main currency of this ecosystem is in the red so far in 2022, some top 100 cryptocurrencies stand out with green numbers. They are few, yes.

There are only six altcoins with gains so far this year, while BTC is almost 10% below the market value with which it started this 2022. And none of them are top or most recognized by investors or enthusiasts, as CoinMarketCap records show.

UNUS SED LEO (LEO) stands out on the list. The token of the American exchange Bitfinex has gained just over 50% in price until this Thursday, February 17. After starting the year at around $3.77 per unit, the token is trading on exchanges for around $5.76 at the time of writing.

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This asset has been fueled, presumably, by recent news about the seizure of almost 100,000 BTC stolen during a hack that the platform suffered in 2016.

LEO is the most prominent asset in the top 100 so far this year. Source: CoinMarketCap.

The rest of the coins are even less well known: Secret (SCRT), Theta Fuel (TFUEL) or BORA, for example. It is striking that, like LEOthe other two remaining assets are related to exchanges: one is the token of the derivatives platform FTX, with more than 14% on the rise; and HT, the token of the Asian exchange Huobi (just over 5%).

Bitcoin has the market in the red: Shiba Inu, ether, AXS are not saved

Of those top 100 cryptocurrencies based on their market capitalization not even Shiba Inu is saved, despite being dragging an appreciation of more than 300,000% since last year, as we reported in CriptoNoticias. Axie Infinity game AXS token has also not fared well (35% depreciation since January)

The Ethereum cryptocurrency, ether (ETH), with about 19% down. One of the main competitors of the latter, Solana (SOL), has lost 44% of its value.

The market news for the main altcoins once again highlights the impact of the behavior of bitcoin on the rest of the cryptocurrencies: with bitcoin in the red, most are in the red.

Therefore, the expectation for all investors is that BTC drives the market up again, as is often the case with its own bull runs. Certain behaviors make this look like a close possibility, although the resistance of $45,000 has been planted strongly in its path.



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