Similar to the equity market, the crypto market didn’t perform well last month. Only a few cryptocurrencies managed to end the month in green. On the other hand, many major altcoins lost heavily last month, allowing investors to initiate new positions. Let’s look at the ten worst performing cryptocurrencies in April 2022.
We have used the April return data from coinmarketcap.com to rank the ten worst performing cryptocurrencies in April 2022. We have only considered coins with a market cap of more than $1 billion (as of May 1, 2022). Following are the ten worst performing cryptocurrencies in April 2022:
Filecoin (FIL, -43%)
It is a decentralized storage system to “store humanity’s most important information.” filecoin's decentralized nature helps to protect data privacy, as well as make it easily retrievable and hard to censor. FIL is down over 21% in the last 90-days and almost 16% in the last 7-days. It has an all-time high of $237.24 (April 2021) and an all-time low of $237.24 (August 2019).
Hedera (HBAR, -44%)
Launched in September 2019, it is an enterprise-grade public network that enables individuals and businesses to develop powerful DApps (decentralized applications). HBAR/USD aims to eliminate the limitations of older blockchain-based platforms, such as slow performance and instability. HBAR is down over 31% in the last 90-days and almost 17% in the last 7-days. It has an all-time high of $0.5701 (September 2021) and an all-time low of $0.01001 (January 2020).
Avalanche (AVAX, -44%)
Launched in 2020, it claims to be the fastest smart contracts platform in terms of time-to-finality. Avalanche's native token AVAX is used to pay for fees, secure the platform through staking, as well as provide a basic unit of account. AVAX is down over 21% in the last 90-days and almost 14% in the last 7-days. It has an all-time high of $146.22 (November 2021) and an all-time low of $2.79 (December 2020).
Helium (HNT, -46%)
Launched in July 2019, it is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. It enables low-powered wireless devices to communicate with each other. HNT/USD is down over 30% in the last 90-days and almost 9% in the last 7-days. It has an all-time high of $55.22 (November 2021) and an all-time low of $0.2534 (June 2020).
Theta Network (THETA, -46%)
Launched in March 2019, it is a decentralized network that allows users to share bandwidth and computing resources peer-to-peer (P2P). Its native cryptocurrency THETA/USD performs various governance tasks within the network. THETA is down over 16% in the last 90-days and over 16% in the last 7-days. It has an all-time high of $15.90 (April 2021) and an all-time low of $0.03977 (March 2020).
Decentraland (MANA, -47%)
Launched in 2017, it is a VR (virtual reality) platform that assists users to develop, experience and earn money from content and applications. Members can use MANA/USD to pay for wearables, names, avatars, and more things on the platform. MANA is down almost 40% in the last 90-days and over 18% in the last 7-days. It has an all-time high of $5.90 (November 2021) and an all-time low of $0.007883 (October 2017).
THORChain (RUNE, -47%)
It is a decentralized liquidity protocol that enables easy exchange of cryptocurrency assets on several networks without members losing full custody of their assets during the exchange process. RUNE/USD is up almost 37% in the last 90-days but is down over 14% in the last 7-days. It has an all-time high of $21.26 (May 2021) and an all-time low of $0.007939 (September 2019).
Fantom (FTM, -55%)
Created in 2018, it is a directed acyclic graph (DAG) smart contract platform that offers developers DeFi (decentralized finance) using its bespoke consensus algorithm. FTM/USD is down over 53% in the last 90-days and over 21% in the last 7-days. It has an all-time high of $3.48 (October 2021) and an all-time low of $0.001953 (March 2020).
Axie Infinity (AXS, -58%)
Created in 2018, it is a blockchain-based trading and battling game partly owned and managed by its members. Axie Infinity enables players to raise, collect, breed, battle and trade token-based creatures. AXS/USD is down over 41% in the last 90-days and almost 24% in the last 7-days. It has an all-time high of $165.37 (Nov 2021) and an all-time low of $0.1234 (Nov 2020).
Waves (WAVES, -76%)
Launched in June 2016, it is a multi-purpose blockchain platform that supports several applications, including decentralized applications (DApps) and smart contracts. Waves’ native token WAVES/USD helps make standard payments such as block rewards. WAVES is down almost 20% in the last 90-days and over 10% in the last 7-days. It has an all-time high of $62.36 (March 2022) and an all-time low of $0.1227 (August 2016).