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    How top 10 cryptocurrencies fared in last 12 months

    How top 10 cryptocurrencies fared in last 12 months

    How top 10 cryptocurrencies fared in last 12 months
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    By CNBCTV18.com  IST (Updated)

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    when compared on the last 12-month basis, the total market capitalisation of crypto is only up by 11.76 percent, from USD 1.7 trillion in March 2021 to USD 1.9 trillion today.This ebb and flow theme was also seen in the prices of the top ten cryptocurrencies.

    So far, calendar 2022 has been a rough year for cryptocurrencies. Regulatory headwinds coupled with general economic weakness due to geopolitical tensions, the pandemic etc. have bogged down prices. This is on the back of an outstanding 2021 where the total market capitalisation of the industry grew by 187.5 percent.
    However, when compared on the last 12-month basis, the total market capitalisation of crypto is only up by 11.76 percent, from USD 1.7 trillion in March 2021 to USD 1.9 trillion today.
    This ebb and flow theme was also seen in the prices of the top ten cryptocurrencies. Let’s take a look at how these cryptocurrencies performed over the last 12 months (from 21 March 2021 to 20 March 2022)
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    Bitcoin (Ranked #1st)
    It is no surprise that the world's oldest cryptocurrency still holds the number one position. However, it is not doing as well as it was this time last year. On 21 March 2021, bitcoin was trading at USD 57,523, and now it is trading at roughly USD 41,000. Its market cap also dropped from USD 1 trillion to USD 780 billion.
    Ethereum (Ranked #2nd)
    Ethereum has seen significant growth over the last year. The trading price of its native token, Ether, has skyrocketed from USD 1,788 on 21 March 2021, to above USD 2,800 as of March 20, 2022. Its market cap has also grown from USD 209 billion to USD 335 billion. This growth spurt can be attributed to the number of decentralised and crypto projects cropping up on the network. Another possible factor behind this upward trend is the network’s much-awaited transition to the PoS consensus mechanism.
    Tether (Ranked #3rd)
    Tether is a stablecoin pegged against the US dollar. Stable coins are designed to protect holders from the volatility otherwise associated with cryptocurrencies. As such, its trading value remained constant over the last year with a price of USD 1. However, the exciting news is that its market cap has more than doubled, increasing from USD 38 billion to USD 80 billion.
    BNB (Ranked #4th)
    BNB is the native token of Binance, the world's largest cryptocurrency exchange. And just like many others on this list, it has also seen substantial growth over the last year. Its price has increased from USD 264 to USD 390 in the past year, with its market cap increasing from USD 41 billion to USD 64 billion.
    USD coin (Ranked #5th)
    USD is another stablecoin pegged against the US dollar. Its price has also remained in the USD 1 range, even though there were minor fluctuations throughout the year. Its market cap has also increased substantially, going from USD 9 billion to USD 52 billion.
    XRP (Ranked #6th)
    XRP has seen modest growth even though Ripple, the token’s creator, has been entangled with an exhaustive lawsuit brought against it by the Securities and Exchange Commission (SEC). Its price has increased from USD 0.51 to USD 0.80 in the past year, and its market cap rose from USD 21 billion to USD 38 billion.
    Terra (Ranked #7th)
    Terra is a blockchain protocol that uses fiat-pegged stablecoins to power global payments systems. It has one of the largest Total Value locked (TVL) in the market right now and its price has increased from USD 21.98 to USD 94.27 in the past year. The network’s market cap has also been on the rise, increasing from USD 7 billion to USD 32 billion.
    Cardano (Ranked #8th)
    Touted as an Ethereum killer, Cardano had a 6-month price decline from September to February 2021 and has been slowly recovering since then. However, both its price and market cap have slipped over the last year. Its price has dropped from USD 1.18 to USD 0.88 in the past year, with its market cap falling from USD 44 billion to USD 28.6 billion.
    Solana (Ranked #9th)
    Solana has had a few infrastructure issues over the past six months. The network has had several outages, which have been a major cause for concern for many users. However, it has still managed to perform relatively well over the last year, with its price going from USD 14.33 to USD 89.78. However, its market cap has decreased from USD 44 billion to USD 28.5 billion.
    Avalanche (Ranked #10th)
    Avalanche is another smart-contract based Ethereum rival. It has been busy garnering decentralised projects on its platform over the last year, boasting a Total Value Locked (TVL) of USD 11 billion. Its price has also increased from USD 32.81 to USD 82.17 in the past year, with its market cap jumping from USD 4 billion to USD 21 billion.
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