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5 cryptocurrencies to keep an eye on in 2023

Published 12/22/2022, 10:21 AM
Updated 12/22/2022, 12:00 PM
LUNAt/USD
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It has been a tumultuous year for the crypto investors who have witnessed the total crypto market capitalization tumble from about $2.2 trillion at the beginning of 2022 to about $850 billion in December. The sharp erosion in valuation was caused due to several high-profile bankruptcies in 2022.

The entire Terra ecosystem imploded with the collapse of its LUNA token and TerraUSD (UST) stablecoin. The failure of Three Arrows Capital followed this black swan event, and the final blow came as FTX underwent a bank run and imploded. These back-to-back events triggered a liquidity and credit crunch and appear to have caused the most damage to the crypto industry.

Crypto market data daily view. Source: Coin360
BTC/USDT weekly chart. Source: TradingView
BTC/USDT daily chart. Source: TradingView
ETH/USDT weekly chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
MATIC/USDT weekly chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
TON/USDT weekly chart. Source: TradingView
TON/USDT daily chart. Source: TradingView
QNT/USDT weekly chart. Source: TradingView
QNT/USDT daily chart. Source: TradingView

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