THE 5 CRYPTOCURRENCIES THAT ARE DOING BEST IN 2022 AND THOSE THAT HAVE COLLAPSED

Neither bitcoin nor ether are among the best-performing cryptocurrencies of 2022.

Between two crypto crashes and the FTX collapse, 2022 has been a particularly eventful year for crypto-currencies. As the year draws to a close, let's take a look at the 5 best performing cryptos and vice versa. To compile these rankings, we based ourselves on one-year return data compiled by specialist site Coinmarketcap.

In the top 5 best-performing cryptos, some have enjoyed a resurgence in interest following the FTX collapse. Others are beginning to prove their worth or are purely speculative. The two largest crypto-currencies in terms of capitalisation, bitcoin and ether, do not feature in these rankings. Bitcoin's "dominance", i.e. its weight in the overall cryptocurrency market, has fallen in recent years (from 70% in December 2020 to 40% today), to the benefit of other cryptocurrencies, known as "altcoins".

GMX, the crypto of decentralised finance
This cryptocurrency, launched in September 2021, is up 100% year-on-year. It is mainly used in so-called decentralised finance operations (DeFi), where users can carry out traditional finance operations (lending...) without an intermediary. The price of the token has risen in recent months, jumping from $26 in mid-November to $44 today.

The upward trend in the price of GMX is explained by the collapse of the centralised exchange platform FTX (editor's note: the company went bankrupt on 11 November), with investors retreating massively to decentralised solutions. The token was simultaneously made available in 2022 on several popular platforms such as Binance and Huobi Global, making it more popular.

Trust Wallet Token, the crypto pro wallet
Launched in 2017, this crypto-currency has an annual increase of 82% as well as a market capitalisation of $545 million. Among other things, it serves as a "governance" token within the decentralised (DEX) platform Trust Wallet, meaning users can use it to vote and assert certain decisions about the life of an ecosystem. Trust Wallet acts primarily as a crypto wallet. Like GMX, this crypto-currency has surged following the collapse of the giant FTX, amidst a distrust of centralised platforms, making DEX more attractive.

ApeCoin, the NFT crypto
Launched in March 2022, this so-called "governance" crypto is carried by the "Bored Ape Yacht Club", from the NFT (non-fungible token) universe. This cryptocurrency did not make a loss in 2022 according to Coinmarketcap, despite the fall of NFTs in 2022. It has risen alongside interest in decentralised governance projects. ApeCoin has not made a loss (0% annual return) over a full year, despite some turbulence in 2022.

Unus Sed Leo, the utility crypto
Launched in 2019 in limited quantities, this crypto currency (or "utility token") allows users of the crypto exchange platform Bitfinex to save money on transaction fees, which can be very high depending on the crypto platforms used. According to Coinmarketcap data, it has a 5% loss over a year, far less than most major crypto currencies (between 60 and 85% loss over a year). As an example, the queen of crypto-currencies, bitcoin has lost more than 70% of its value since its all-time peak in November 2021 at $69,000.

OKB, the speculative crypto
This cryptocurrency has lost 18% of its value in the space of a year. It is the native token of the OKX crypto exchange. While the crypto currency has experienced some turbulence over the year, it has made significant rebounds at various times, such as in March, August and November. According to some analysts, the rebounds of this cryptocurrency are not necessarily associated with major events (apart from FTX's fall in November), which suggests that it is the subject of heavy speculation.

The 5 losing cryptos: from Luna, through FTT and Solana
Last spring, the cryptocurrency luna saw its price fall by 100% following the collapse of the Terra Luna blockchain. Similarly, FTX's native token, FTT, fell 98% in November following the collapse of the US stock market. The token is still the subject of intense speculation in the context of FTX's bankruptcy proceedings, with some tweets from former FTX boss Samuel Bankman-Fried once again sending the crypto soaring.

The other three cryptos that have fallen the most this year are solana (-93%), which runs on a blockchain that has been down 6 times this year. The blockchain, which is closely linked to FTX, continues its free fall. Axie Infinity, meanwhile, has fallen 93% in one year, mainly due to a $650 million hack on the Ronin blockchain in late March. Finally, Sand, the native token of the decentralised platform The Sandbox, fell by 92%.