Cointelegraph looks back on the best and worst-performing cryptocurrencies of 2022 among the top 100 assets by market capitalization. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. 25, 2022. Overall, Cryptoindex.com 100 (CIX100), an index that tracks the 100 best-performing cryptocurrencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022. CIX100 weekly price chart. Source: TradingView Stablecoins are naturally omitted from the list below. Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored. Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens and others. Top five crypto of 2022 1. GMX (GMX) YTD return: 111% Sector: Decentralized...
2022 has been a bumpy year for the cryptocurrency market, with one of the worst bear markets on record and the downfall of some major platforms within the space. The global economy is beginning to feel the consequences of the pandemic, and clearly, this has had an influence on the crypto industry. Below is a breakdown of some of the biggest disappointments in the crypto space this year. Axie Infinity’s Ronin Bridge hacked In March of this year, Ronin, the blockchain network that runs the popular nonfungible token (NFT) crypto game Axie Infinity, was hacked for $625 million. The hacker took 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) from the Ronin bridge in two transactions. When the Lazarus Group started its attack, five of the nine private keys for the Ronin Network’s cross-chai...
The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week. The S&P 500 index dropped 3.37%, but a minor positive for the cryptocurrency markets is that Bitcoin (BTC) has not followed the equities markets lower. This suggests that crypto traders are not panicking and dumping their positions with every downtick in equities. Crypto market data daily view. Source: Coin360 The range-bound action in Bitcoin suggests that traders are avoiding large bets before the Federal Reserve’s rate hike decision on Dec. 14. However, that has not stopped the action in select altcoins, which are showing promise in the near term. Let’s look at the charts of Bitcoin ...
Blockchain gaming is only four years old — a toddler compared to the rest of the industry. It has a lot of growing up to do, particularly when it comes to play-to-earn games. I’m a 28-year game industry veteran. I’ve produced 32 titles in that period of time on everything from Sega Genesis to Oculus Rift. Some of them were great. Many were forgettable. I didn’t hear much chatter about blockchain gaming from traditional developers and players until Axie Infinity began to take off. Cut to the peak of 2021, and the game had nearly 2 million players logging on daily. Most people outside the crypto community at the time were (and still are) extremely skeptical about blockchain’s ability to add anything meaningful to games. They see Axie as an example of the low production values and...
Blockchain gaming is only four years old — a toddler compared to the rest of the industry. It has a lot of growing up to do, particularly when it comes to play-to-earn games. I’m a 28-year game industry veteran. I’ve produced 32 titles in that period of time on everything from Sega Genesis to Oculus Rift. Some of them were great. Many were forgettable. I didn’t hear much chatter about blockchain gaming from traditional developers and players until Axie Infinity began to take off. Cut to the peak of 2021, and the game had nearly 2 million players logging on daily. Most people outside the crypto community at the time were (and still are) extremely skeptical about blockchain’s ability to add anything meaningful to games. They see Axie as an example of the low production values and...
The bulls are attempting to achieve a strong weekly close for Bitcoin (BTC), while the bears are attempting to regain their advantage. Analysts are closely watching the 200-week moving average which is at $22,705 and BTC’s current setup suggests that a decisive move is imminent. Many analysts expect a weekly close above the 200-week MA to attract further buying but a break below it could signal that bears are back in the game. Although the short-term picture looks uncertain, analyst Caleb Franzen said that Bitcoin has been in an accumulation zone since May. Crypto market data daily view. Source: Coin360 Meanwhile, on-chain analytics firm CryptoQuant highlighted increasing outflows of Ether (ETH) from major exchanges, totaling $1.87 million coins on July 22. Usually, outflows fr...
Axie Infinity (AXS) has been forming a giant bearish reversal pattern since July last year, which could send its prices down by another 95% in 2022. AXS risks one big breakdown Dubbed the “inverted cup and handle,” the pattern is identified by its large crescent shape followed by a modest upward retracement. It typically resolves after the price breaks out of the rising channel, followed by another break below the cup-and-handle’s neckline support. Meanwhile, as a rule of technical analysis, an inverted cup and handle breakout leads the price to the level at length equal to the maximum distance between the structure’s top and support. AXS’s price rally during the second half of 2021, followed by its complete wipeout in 2022, makes a crescent shape trend, which...
On Tuesday, Sky Mavis, creator of the popular fantasy monster-battle nonfungible token (NFT) game Axie Infinity, announced that it had accepted the first user-created projects in its Axie Infinity Builders Program. Out of 2,000 applications submitted, just 12 were selected for the Builders Program. Among the many perks, chosen teams will receive a minimum $10,000 grant — denominated in Axie Infinity’s governance token, Axie Infinity Shards (AXS) — to fund project development. They will also receive permission to monetize their game using the Axie Infinity brand with a revenue-share model. Notable projects include Across Lunacia, a platforming adventure for Axie NFTs, and Mech Infinity, a battle royale game involving Axies and their unique abilities. Philip La, game product lead at Ax...