#Cryptocrash : Here's When Every Major Cryptocurrency Lost It's Peaked This Year - www.Malkamdior.com
Though they're soaring Wednesday, the world's largest cryptocurrencies are still far from their peaks earlier this year as a result of heightened regulatory scrutiny in China and bearish comments from Tesla chief Elon Musk—here's when every top 10 cryptocurrency (save for Tether and USD Coin, whose values are meant to float near $1) peaked this year.
Crypto surge this year
- Anticipation over crypto-brokerage Coinbase's public-market debut helped lift bitcoin to new highs in April, but after the occasion—hailed as a watershed moment for institutional adoption—failed to meet high expectations, the world's largest cryptocurrency struggled to hold on to its meteoric gains.
- Amid crypto-mining bans in China and criticism over the coin's massive carbon footprint, bitcoin prices have plummeted nearly 47% from their all-time high on April 14, the day Coinbase debuted on the Nasdaq exchange.
- Though Ripple's XRP hasn't surpassed its high from the crypto-trading frenzy four years ago, the volatile token's peak this year also occured on April 14—buoyed by both Coinbase's listing and a judge's favorable ruling in the Securities and Exchange Commission's ongoing Ripple investigation—but its price has plummeted a staggering 65% since.
- As investors sold off their bitcoin holdings in the weeks after its peak, many plowed into other top cryptocurrencies, lifting the likes of ether, polkadot, uniswap and binance coin to new highs in early May, as big banks Goldman Sachs and Morgan Stanley started revving up operations in the space.
- Some cryptocurrencies also got a boost from billionaire Elon Musk—including his unabashed favorite, "joke" token dogecoin, which surged to a new high on May 8, the day of Musk's highly anticipated Saturday Night Live debut, but has plunged nearly 70% since the self-proclaimed "dogefather" used his airtime to call the digital asset a "hustle."
- After days of surging while the broader crypto market started crashing over environmental concerns, Cardano's ada token, which claims to have a much less carbon-intensive mining process than bitcoin, peaked on May 15 and has fallen nearly 45% since, much like the rest of the crypto-market.