{"id":39343,"date":"2022-12-26T22:43:11","date_gmt":"2022-12-26T22:43:11","guid":{"rendered":"http:\/\/egrowonline.com\/?p=39343"},"modified":"2022-12-26T22:43:11","modified_gmt":"2022-12-26T22:43:11","slug":"this-defi-token-soars-102-in-2022-even-as-bitcoin-ethereum-dogecoin-miss-out-on-market-gains-axs-axs-usd-bitcoin-btc-usd","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=39343","title":{"rendered":"This DeFi Token Soars 102% In 2022 Even As Bitcoin, Ethereum, Dogecoin Miss Out On Market Gains – AXS (AXS\/USD), Bitcoin (BTC\/USD)"},"content":{"rendered":"


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As 2022 draws to a close, it is clear that decentralized crypto exchange\u2019s native token GMX <\/strong>GMX\/USD<\/span> is the biggest gainer, surging over 102% and\u00a0trading at $45, as per Benzinga Pro data.<\/a><\/p>\n

What Happened<\/strong>: Apex crypto Bitcoin <\/strong>BTC\/USD<\/span>, Ethereum <\/strong>ETH\/USD<\/span> and Dogecoin <\/strong>DOGE\/USD<\/span> did not even make it on the list of top 100 gainers by market capitalization, recorded at 2:30 a.m. EST on Dec. 26.<\/p>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Cryptocurrency<\/th>\n

<\/p>\n

Gains<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

GMX<\/td>\n

<\/p>\n

+102%<\/td>\n

<\/p>\n

$45<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Trust Wallet<\/td>\n

<\/p>\n

+72%<\/td>\n

<\/p>\n

$1.38<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

LEO<\/td>\n

<\/p>\n

+1.3%<\/td>\n

<\/p>\n

$3.60<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

The rise in GMX <\/strong>can be attributed to the collapse of FTX<\/strong><\/a>, as users became aware of the importance of decentralized exchanges as a safer way to safeguard their funds and guard against the risk of being locked out.\u00a0<\/p>\n

See More:<\/em><\/strong> <\/strong>Best Crypto Day Trading Strategies<\/em><\/a><\/p>\n

The second on the list is Trust Wallet<\/strong>‘s\u00a0<\/strong>native token TWT\/USD<\/span>, which saw a massive 72% surge on the news of FTX’s self-custody wallets <\/a>becoming necessary for users as exchanges were temporarily suspending withdrawals due to a shortage of funding.<\/p>\n

Another DeFi platform that rallied over the year even as the overall market bled was the UNUS SED LEO <\/strong>token LEO\/USD<\/span>. Although it witnessed only 1.3% gains, it outperformed the top 100 cryptos by market capitalization.\u00a0<\/p>\n

Biggest Losers: <\/strong>On the losers’ front, Terra Luna Classic <\/strong>LUNC\/USD<\/span> took an alarming 100% hit in value<\/a>.<\/p>\n

The Luna crypto crash was unprecedented, and the cause lies in its connection to TerraUSD<\/strong> (UST), the algorithmic stablecoin on the Terra network. On May 7, over $2 billion in UST was unstaked (taken off the Anchor Protocol), and this ripple effect caused hundreds of millions of Luna tokens to be liquidated quickly.<\/p>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Cryptocurrency<\/th>\n

<\/p>\n

Losers<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

Terra Luna Classic<\/td>\n

<\/p>\n

-100%<\/td>\n

<\/p>\n

$0.000148734717<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Solana<\/td>\n

<\/p>\n

-94.1<\/td>\n

<\/p>\n

$11.31<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Axie Infinity<\/td>\n

<\/p>\n

-93.8%<\/td>\n

<\/p>\n

$6.83\u00a0\u00a0 \u00a0<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

The Sandbox<\/td>\n

<\/p>\n

-93.5%<\/td>\n

<\/p>\n

$0.439886<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Filecoin<\/td>\n

<\/p>\n

-93.2%<\/td>\n

<\/p>\n

$2.96<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

The second place goes to Solana <\/strong>SOL\/USD<\/span>, which was tied to a blockchain backed by Sam Bankman-Fried. <\/strong>It has declined over 94.1% since the beginning of 2022.\u00a0Once lauded as an Ethereum killer, Solana has been plagued by multiple outages<\/a> and massive hacks in recent months.\u00a0<\/a><\/p>\n

One of the major causes of SOL’s falling price was the FTX crash<\/a>. Several digital assets associated with FTX and Alameda Research were significantly impacted after Bankman-Fried announced bankruptcy and resigned as CEO of the troubled firm.<\/p>\n

The sudden departure caused a chain reaction of events that dragged the prices of many tokens lower.\u00a0<\/p>\n

Axie Infinity <\/strong>AXS\/USD<\/span> has seen a dramatic decline of 93% in 2022, making it the third biggest loser. This has been largely attributed to the fact that millions of vested tokens were about to be unlocked, sparking fears of a massive dump on the market. However, data from DappRadar also shows that interactions <\/a>with the game have been down.<\/p>\n

The Sandbox<\/strong> SAND\/USD<\/span> and Filecoin <\/strong>FIL\/USD<\/span> made it to Nos. 4 and 5, respectively, down over 93.5% and 92%.

\nRead Next:<\/em><\/strong> Bitcoin, Ethereum Muted, Dogecoin Spikes: No Signs Of ‘Santa Claus’ Rally As Analyst Says Tech Rout Behind Risk-Off Mood<\/em><\/a><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As 2022 draws to a close, it is clear that decentralized crypto exchange\u2019s native token GMX GMX\/USD is the biggest gainer, surging over 102% and\u00a0trading at $45, as per Benzinga Pro data. What Happened: Apex crypto Bitcoin BTC\/USD, Ethereum ETH\/USD and Dogecoin DOGE\/USD did not even make it on the list of top 100 gainers […]<\/p>\n","protected":false},"author":1,"featured_media":39344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[1712,13047,50,6612,172,85,158,615,219,263,452],"class_list":["post-39343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-axs","tag-axsusd","tag-bitcoin","tag-btcusd","tag-defi","tag-dogecoin","tag-ethereum","tag-gains","tag-market","tag-soars","tag-token"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/crypto_photo_by_chinnapong_on_shutterstock.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39343"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39343\/revisions"}],"predecessor-version":[{"id":39345,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/39343\/revisions\/39345"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/39344"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39343"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}