One of the most drastic declines in the history of the market was experienced in 2022. Questions are being asked about when major Cryptocurrencies will recover.
The total value of allcryptocurrencies, including stable coins and token, has fallen by more than half since the beginning of the year. The two largest cryptocurrencies by market cap have fallen in the same period.
One could argue that the cryptocurrencies can't recover from their losses. Despite what happened this year, things are not that bad for ether and bitcoin.
The two biggest cryptocurrencies were affected by major events this year.
Over a billion dollars of the total market cap was wiped out within six weeks of the collapse of the Terra/LUNA Ecosystem. The fall against the largest cryptocurrencies was over 50%.
It looks like the decline was brutal.
Even after FTX, one of the largestcryptocurrencies exchanges, collapsed last month and filed for Chapter 11 bankruptcy, both ether and bitcoins have held in the same range.
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