As 2022 draws to a close, it is clear that the native token is a decentralized crypto exchange GMKS GMKS/USD is the biggest gainer, jumping over 102% to trade at $45, according to data from Benzinga Pro.
What happened: Apek crypto Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD it didn’t even make the top 100 gainers by market cap as of 2:30 a.m. EST on Dec. 26.
The rise in GMKS can be attributed to the collapse of FTKSas users have become aware of the importance of decentralized exchanges as a safer way to protect their funds and protect against the risk of being blocked.
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Second on the list is Trust Wallet‘s native token TVT/USDwhich experienced a massive 72% surge on the news that FTKS wallets had become a necessity for users as exchanges were temporarily suspending withdrawals due to lack of funds.
Another DeFi platform that strengthened during the year, even as the overall market was hemorrhaging, was UNUS SED LEO token LEO/USD. Although it posted a gain of only 1.3%, it outperformed the top 100 cryptocurrencies by market capitalization.
The Biggest Losers: On the losing front, Terra Luna Classic LUNCH/USD it recorded an alarming 100% hit in value.
The Luna crypto crash was unprecedented, and the cause lies in its association with TerraUSD (UST), an algorithmic stablecoin on the Terra network. On May 7th, more than $2 billion in UST was unstaked (taken out of the Anchor protocol), and this ripple effect caused hundreds of millions of Luna tokens to be liquidated quickly.
|Terra Luna Classic||-100%||$0.000148734717|
Second place belongs Solana SOL/USDwhich was linked to the blockchain supported by Sam Bankman-Fried. Since the beginning of 2022, it has decreased by over 94.1%. Once hailed as Ethereum’s killer, Solana has been hit by multiple outages and massive hacks in recent months.
One of the main reasons for the drop in SOL’s price was the drop in FTKS. Several digital assets linked to FTKS and Alameda Research took a significant hit after Bankman-Fried filed for bankruptcy and resigned as CEO of the troubled firm.
The sudden departure caused a chain reaction of events that dragged the prices of many tokens lower.
Akie Infiniti AKSS/USD has seen a dramatic 93% decline in 2022, making it the third biggest loser. This was largely attributed to the fact that millions of allocated tokens were about to be unlocked, sparking fears of a massive market dump. However, data from DappRadar also shows that interactions with the game have decreased.
The Sandbox SAND/USD and Filecoin FIL/USD reached the 4th and 5th places, falling by over 93.5% and 92%.
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