![]() ![]() That explains why LEO rallied by more than 100% at the start of the year, given the uptrend came after the United States Department of Justice recovered 94,000 BTC from Bitfinex hackers. IFinex also said it would use the funds it lost during the August 2016 Bitfinex hack to purchase LEO tokens. Notably, the firm declared at the time of LEO’s private sale in 2018 that it would employ 27% of its revenue to buy back the tokens until the entire supply of 985.24 million units was removed from circulation. One of the reasons why LEO outperformed most top-ranking assets could be iFinex’s pledge. The token suffered losses in 2022, but at -3.5%, they were little compared to most top coins, including Bitcoin ( BTC) and Ether ( ETH), which lost over 65% in the same period. Unus Sed Leo (LEO) is native to the iFinex ecosystem. The speculation could have played a major role in boosting TWT’s valuation. Source: TradingViewĪs Cointelegraph reported, the FTX’s collapse boosted mistrust for centralized exchanges, which may have prompted investors to move their funds to self-custody wallets like Trust Wallet. The token moved lower in tandem with the rest of the crypto market, mostly in 2022, but like GMX, its upside momentum increased amid the collapse of the FTX exchange in November. Trust Wallet Token (TWT) serves as a utility and a governance token within the Trust Wallet ecosystem. In addition, the token rallied impressively in late November after its platform briefly surpassed its top DEX rival, Uniwap, in daily trading fees. GMX’s price uptrend mostly picked its cues from the collapse of FTX, a centralized exchange, and its listing on popular trading platforms - including Binance and Huobi Global - across 2022. GMX acts as a utility and a governance token within the GMX decentralized exchange (DEX) ecosystem and is the best-performing digital asset among the top 100 coins (excluding stablecoins). Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens and others. ![]() Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored. Stablecoins are naturally omitted from the list below. Overall, 100 (CIX100), an index that tracks the 100 best-performing cryptocurrencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. Cointelegraph looks back on the best and worst-performing cryptocurrencies of 2022 among the top 100 assets by market capitalization.
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