coinsbit-token
Coinsbit Token (CNB) $ 0.000014
sheesh-3
Sheesh ($SHEESH) $ 0.000009
trump-wif-ear
TRUMP WIF EAR (WIFEAR) $ 0.000009
happy-dog
Happy Dog (HAPPYDOG) $ 0.000009
pepig
PEPIG (PEPIG) $ 0.000009
kassandra
Kassandra (KACY) $ 0.001527
golondon
GoLondon (GOLDN) $ 0.00000009017916
findme
FindMe (FINDME) $ 0.000091
let-me-do-it-for-you
Let me do it for you (NOSE) $ 0.000009
duckey
Duckey (DUCKEY) $ 0.00000002140273
oxyo2
OxyO2 (KRPZA) $ 0.000072
moji
Moji (MOJI) $ 0.000009
bitcoinsov
BitcoinSoV (BSOV) $ 0.002422
edm
Electric Dog Modish (EDM) $ 0.000009
etherfuse-tesouro
Etherfuse TESOURO (TESOURO) $ 0.172411
angryguy
ANGRYGUY (ANGRYGUY) $ 0.000009
one-play
One Play (OP) $ 0.000009
echain-network
Echain Network (ECT) $ 0.000123
sigma-ai-terminal
Sigma AI Terminal (SAI) $ 0.000009
leonardo-ai
Leonardo AI (LEONAI) $ 0.000009
typen
Typen (TYPEN) $ 0.000009
butterfly-ai
Butterfly Ai (FLY) $ 0.000889
wolt
Wolt (WOLT) $ 0.00000000002114
amply
AMPLY (AMPLY) $ 0.002461
trading-oracle
Trading Oracle (ORCL) $ 0.000009
pepe-uwu
PEPE UWU (CUTE) $ 0.00000001139105
lumi-2
LUMI ($LUMI) $ 0.000009
metawars
MetaWars (WARS) $ 0.000121
ormeus-ecosystem
Ormeus Ecosystem (ECO) $ 0.000003
laser-shark
Laser Shark (LS) $ 0.000009
atrofarm
Atrofarm (ATROFA) $ 0.000045
chi-protocol
Chi Protocol (CHI) $ 0.000094
cool
Cool (COOL) $ 0.000009
laifu
LAIFU (LAIFU) $ 0.000009
lawn
LAWN (LAWN) $ 0.000009
zaza-2
ZAZA (ZAZA) $ 0.000009
never-go-full
Never Go Full (RETARD) $ 0.00000008729039
equation
Equation (EQU) $ 0.00865
ilence
$ilence ($ILENCE) $ 0.000009
dogwif2-0
DOGWIF2.0 ($WIF2) $ 0.000009
waltonchain
Waltonchain (WTC) $ 0.000296
colonizemars
ColonizeMars (GTM) $ 0.000087
willy-3
willy (WILLY) $ 0.000009
tyler-2
Tyler (TYLER) $ 0.000097
infinect
Infinect (INFC) $ 0.000086
baolong-the-enemy-of-nailong
Baolong the Enemy of Nailong (BAOLONG) $ 0.000009
pineapple-cat
Pineapple Cat (PCAT) $ 0.000009
maxcat
MaxCat ($MAX) $ 0.000009
skibidi-dop-dop
Skibidi Dop Dop (SKIBIDI) $ 0.000011
mozart
Mozart (MOZART) $ 0.000009
xenify-bxnf-bnb-chain
bXNF (BXNF) $ 0.020928
lgcy-network
LGCY Network (LGCY) $ 0.00000069238651
winston-spider-monkey
winston spider monkey (WINSTON) $ 0.000009
moon-market
Moon Market (MOON) $ 0.000009
pew-pew
Pew Pew (PEW) $ 0.000009
smore
SMORE (SMORE) $ 0.000008
spaceswap-shake
Spaceswap SHAKE (SHAKE) $ 11.14
tongpu
TonGPU (TGPU) $ 0.000004
traaitt
traaitt (XTE) $ 0.00000000253068
floyx-new
Floyx (FLOYX) $ 0.000002
bitcoin-cat
Bitcoin Cat (SASHA) $ 0.000008
erebus
erebus (ERB) $ 0.000008
inheritance-art
inheritance Art (IAI) $ 0.011137
kek-on-sol
Kek on Sol (KEK) $ 0.000008
pluto-2
PLUTO (PLUTO) $ 0.000008
rosie-the-robot
Rosie the Robot (ROSIE) $ 0.000008
air-fryer-guy
Air Fryer Guy (FRYER) $ 0.000009
nexea
NEXEA (NEXEA) $ 0.000008
giggleched
giggleched (CHED) $ 0.000009
kozue
Kozue (KOZUE) $ 0.000042
chat-chain
Chat Chain (CHAT) $ 0.008348
metagods
MetaGods (MGOD) $ 0.000591
museum-of-influencers
Museum Of Influencers (MOFI) $ 0.000008
kuro
Kuro (KURO) $ 0.000008
waifu-sol
Waifu ($WAIFU) $ 0.000009
tronarmy
TronArmy (TRONARMY) $ 0.000008
habi
Habi (HABI) $ 0.000008
ponziothecat
PonzioTheCat (PONZIO) $ 8,276,377,598.91
chinchilla
ChinCHILLa (CHILLA) $ 0.000008
e-c-vitoria-fan-token
E.C. Vitoria Fan Token (VTRA) $ 0.006705
kosher-katz
Kosher Katz (K) $ 0.000008
hellcat
HELLCAT (HCAT) $ 0.000008
rokos-matrix
Rokos Matrix (MATRIX) $ 0.000008
nord-ai
Nord Ai (NOAI) $ 0.000041
first-meme
First Meme (LOLCAT) $ 0.000008
infinity-skies
Infinity Skies (ISKY) $ 0.00053
squaresai
SquaresAI (SQUARES) $ 0.000145
hopecoin
Hopecoin ($HOPE) $ 0.000008
eggybsc
EGGY (EGGY) $ 0.000014
emoticoin-2
EMOTICOIN (EMOTI) $ 0.000008
satoshi-nakamoto-sol
SATOSHI NAKAMOTO (SOL) ($GODFATHER) $ 0.000008
xp
XP (XP) $ 0.000003
the-void
The Void (VOID) $ 0.000134
charlie
Charlie (CHARLIE) $ 0.000008
dexquark
DexQuark (QRK) $ 0.000009
cata-bsc
CATA BSC ($CATA) $ 0.00000000001925
gizmo
GIZMO (GIZMO) $ 0.000008
moneta-2
Moneta (MNTA) $ 0.002688
fukurou
エッホエッホ (FUKUROU) $ 0.000008
mcbroken
McBROKEN (MCBROKEN) $ 0.000008

2022: The Year Cryptocurrency Crashed

The cryptocurrency industry faced its most turbulent year yet in 2022. What began with optimism quickly spiraled into a series of catastrophic events—from billion-dollar hacks to high-profile bankruptcies and the spectacular downfall of FTX. Investors saw once-thriving crypto firms crumble, and regulatory scrutiny reached new heights.

Despite the setbacks, blockchain technology remains a focal point for governments and financial institutions. Here’s a month-by-month breakdown of how 2022 unfolded for the crypto industry.

February: The ‘Crypto Bowl’ Hype

Riding the momentum of 2021, crypto firms made a splash at the Super Bowl on February 14, spending millions on advertisements. Brands like Coinbase, Crypto.com, eToro, and FTX dominated the airwaves, pushing the narrative that cryptocurrency was the “next big thing.”

FTX’s commercial, featuring comedian Larry David, urged viewers not to “miss out”—a statement that would later prove ironic as the firm collapsed just months later.

March: The First Major Blow – A $625M Hack

March saw the first signs of instability. The U.S. Federal Reserve raised interest rates for the first time since 2018, causing a market shake-up. But the biggest hit came from the Ronin Network hack, which drained $625 million from Axie Infinity’s blockchain gaming ecosystem.

U.S. authorities later attributed the attack to North Korea’s Lazarus Group. While some funds were recovered, the breach highlighted the vulnerabilities of decentralized finance (DeFi) platforms.

May: The Terra-LUNA Implosion

One of the most devastating moments in crypto history occurred in May when TerraUSD (UST), an algorithmic stablecoin, lost its dollar peg. The collapse wiped out $40 billion in market value within days, sparking panic across the industry.

By May 19, UST was trading at less than $0.10, and its sister token, LUNA, was effectively worthless. The implosion triggered a domino effect, leading to liquidity crises in other crypto firms.

June: The Crypto Contagion Spreads

The aftershocks of Terra-LUNA’s collapse quickly spread. On June 12, crypto lender Celsius froze withdrawals, citing “extreme market conditions.” By the end of the month:

  • Voyager Digital issued a default notice to Three Arrows Capital (3AC) for failing to repay a $665 million loan.
  • A British Virgin Islands court ordered 3AC to liquidate on June 29.
  • Just two days later, 3AC filed for bankruptcy under Chapter 15.

The crisis deepened the market downturn, with investors pulling funds en masse.

July: Crypto Winter Sets In

By mid-summer, the industry had entered a full-fledged crypto winter. Bitcoin was down 70% from its all-time high, and thousands of altcoins became worthless.

Major crypto firms announced mass layoffs:

  • Coinbase cut 1,100 employees (18% of its workforce).
  • OpenSea laid off 20% of staff.
  • Blockchain.com let go of 25% of its employees.

The NFT market also suffered, with monthly trading volumes plummeting from $4.9 billion in January to under $500 million by October.

September: A Bright Spot – Ethereum’s Merge

Amid the chaos, Ethereum completed The Merge in mid-September, transitioning to a proof-of-stake consensus mechanism. The upgrade reduced Ethereum’s energy consumption by 99.99%, marking a significant milestone for blockchain sustainability.

October: The Biggest Month for Crypto Hacks

October set a grim record, with over $718 million stolen from DeFi platforms in 11 separate attacks. According to blockchain analytics firm Chainalysis, this made October the worst month ever for crypto hacks.

November: FTX’s Catastrophic Collapse

The biggest shock of the year came in November when FTX, one of the world’s largest crypto exchanges, imploded in a matter of days.

  • On November 2, CoinDesk reported that FTX’s balance sheet was deeply intertwined with Alameda Research, raising red flags.
  • On November 6, Binance CEO Changpeng Zhao announced plans to sell off all FTT tokens, triggering panic.
  • By November 8, FTX froze withdrawals, and Binance backed out of a proposed bailout.
  • On November 11, FTX filed for bankruptcy, and its founder Sam Bankman-Fried stepped down as CEO.

The FTX collapse sent shockwaves across the industry:

  • Bitcoin fell below $16,000, its lowest since 2020.
  • BlockFi filed for bankruptcy on November 28, citing exposure to FTX.
  • Crypto lender Genesis paused withdrawals, impacting institutions like Gemini and GOPAX.

Analysts estimate that the FTX debacle caused $9 billion in losses across the crypto ecosystem.

What’s Next for Crypto in 2023?

The events of 2022 exposed deep flaws in the crypto industry—lack of transparency, over-leverage, and poor risk management. Regulators worldwide are now ramping up scrutiny, with calls for stricter regulations and more oversight of digital assets.

However, some industry experts argue that blockchain technology and decentralized finance (DeFi) are here to stay. The collapse of FTX and Terra-LUNA may serve as a wake-up call, pushing the sector toward greater accountability.

As crypto heads into 2023, the big question remains: Can the industry rebuild trust, or was 2022 the beginning of the end for digital currencies?

Hot this week

Ark Invest Buys $11.5M in Coinbase Stock After 17% Crash Amid Market Turmoil

Cathie Wood’s Ark Invest Bets Big on Coinbase Amid...

BlackRock CEO Warns of Inflation as Bitcoin Crashes Below $80K Amid $1 Trillion Crypto Wipeout

The cryptocurrency market is in turmoil as Bitcoin tumbles...

Bitcoin Hits $109K Before Trump’s Inauguration, Drops 9% Amid Policy Uncertainty

Bitcoin’s price rollercoaster continued this week as speculation over...

Bitcoin Surges and Crashes as Trump’s Inauguration Fuels Crypto Speculation

Bitcoin investors experienced a rollercoaster ride this week as...

What Is the Melania Trump Meme Coin and How Much Is It Worth?

Just hours before returning to the White House, Melania...
bitcoin
bitcoin

Bitcoin (BTC)

Price
$ 83,458.36

Topics

Ark Invest Buys $11.5M in Coinbase Stock After 17% Crash Amid Market Turmoil

Cathie Wood’s Ark Invest Bets Big on Coinbase Amid...

Bitcoin Hits $109K Before Trump’s Inauguration, Drops 9% Amid Policy Uncertainty

Bitcoin’s price rollercoaster continued this week as speculation over...

Bitcoin Surges and Crashes as Trump’s Inauguration Fuels Crypto Speculation

Bitcoin investors experienced a rollercoaster ride this week as...

What Is the Melania Trump Meme Coin and How Much Is It Worth?

Just hours before returning to the White House, Melania...

9 Best Shitcoins to Buy in March 2025 High-Risk, High-Reward Crypto Picks

Shitcoins may lack traditional utility, but they remain a...

Bitcoin Plummets Below $90K Amid Crypto Market Turmoil

Bitcoin’s price tumbled below the $90,000 mark on Tuesday,...

Solana’s SOL Drops Below Key Price Level for First Time in Three Years

Solana’s native token, SOL, suffered a sharp decline on...

Related Articles

Popular Categories