Skip to content

Number of cryptocurrencies with over $1 billion market cap drop by 55% in 2022

Number of cryptocurrencies with over $1 billion market cap drop by 55% in 2022

As the cryptocurrency sector continues struggling with the volatility that has drained nearly $1.27 trillion from its market capitalization since the year’s turn, the number of cryptos with a market cap of over $1 billion has recorded a dramatic drop as well.

At press time, there were 53 digital assets, including Bitcoin (BTC), with a market cap above $1 billion, compared to 118 on January 1, 2022, according to the data retrieved from CoinMarketCap on September 26.

In other words, the number of crypto tokens with a market cap above $1 billion has dropped by 55.08% since the beginning of the year, as Finbold discovered by combining the current CoinMarketCap information with a web archive tool.

Crypto market cap declines, number of cryptos rises

Meanwhile, in mid-September, the global cryptocurrency market lost $165 billion in one week alone – between September 12 and September 19 – dropping to a two-month low, whereas since the beginning of the year, its market cap declined from $2.19 trillion to $925.4 billion.

Global cryptocurrency market cap YTD chart. Source: CoinMarketCap

On the other hand, the total number of cryptocurrencies recorded gains in the three months following June 20, rising from 19,938 to 21,022 as of September 20, or 5.44%, although the number of crypto exchanges dropped by 3.41%, data shows.

At the same time, retail investors in the United Kingdom are increasingly pumping funds into the crypto market, so far investing around $34.7 billion in cryptocurrencies in a country where 34% of the population owns different cryptocurrencies, according to a new report

As things stand, crypto’s leading asset, Bitcoin, is struggling to keep its head above the $19,000 threshold, currently trading at $19,069, which represents a growth of 0.05% on the day, as well as 1.53% across the previous week.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts