There has been a continuous drop in cryptocurrency prices in the last month. Heavy investors have felt the impact well, with CZ losing almost 80% of their crypto savings. Crypto prices continue to shake, with them, the wealth of many crypto billionaires. Some cryptocurrencies have been hit hard to lose their value and be classified as worthless. We look at some of the most affected cryptocurrencies and some of the most hit cryptocurrency users in the world. To begin with, we take a look at the most hit personnel at the peak of the crypto chain.
The CEO of FTX, Sam Bankman Fried, had a net worth of almost $20 million by January this year, and as of June, his fortune has dwindled by almost half since March to about $11.3 billion. Fred Ehrsam has also lost more than 60% since the beginning of 2022, and his fortune has shrunk to $1.1 billion. Brian Armstrong, Coin base CEO, Had a net worth of about $8 billion by March, and now it’s being reported at $2.2 billion. Those are some of the witnessed effects of the current price fluctuation of cryptocurrencies worldwide.
There are over 2000 cryptocurrencies worldwide, and apart from the stablecoins, others have been affected by the price fall. The most affected cryptocurrencies are discussed below:
Terra (LUNA)
In April 2022, it hit its highest price of $119, but by May and June, it was trading at $0.0001626 per token. Luna’s market value dropped to about $840 million from more than $20 billion before the TerraUSD collapse, according to data from CoinGecko.
TerraUSD (UST)
Its current price is USD 0.084794, a rise of up to 15% in the last 24 hours. Its all-time high was at $1.04. The fact that this stablecoin is affected shows the extent that prices fall.
Bitcoin
Bitcoin is the most expensive cryptocurrency in the world. Its value fell by almost 20%, and it is now going for $30,000 from a high of $47,000.
Ethereum
Its price has hit $1900 in the last 24 hours. The ETH price has decreased by 15.31% in the last seven days. It is currently ranked the second largest crypto asset in market capitalisation.
Solana
In the last few weeks, Solana has gone down by up to 10% to a price of $50.It is currently ranked as the 9th biggest crypto asset in market capitalisation.
Dogecoin
Its current price is $0.08905. It has dropped by up to 4.3% in the last 24hrs.
Cardano (ADA)
Cardano lost its value by 11% in the last seven days, at $0.5263.
Binance (BNB)
It is going at $321 now from the highest of $690. BNB is currently ranked as the fifth biggest crypto asset in market capitalisation.
The prices are dwindling, but the hope is there. The prices are expected to hit their highest by august this year. Crypto analysts are urging for calmness, buy and hold setup.
