Last Updated on May 12, 2022 by Opeyemi Quadri
Cryptocurrency investors and enthusiasts have seen their assets go red in the last couple of days. It’s across the board, Altcoins and Stablecoins also plunged.
For instance, the largest cryptocurrencies by market capitalization, Bitcoin and Ethereum are currently down by more than 50% from their all-time highs posted in the November 2021 bull run.
This post takes a look back at the all-time high of the 10 largest cryptocurrencies since they were launched even as the dip continues, prompting a Redditor to share a story of how to he recovered from trading loses
N.B: All-Time High or ATH is the highest price paid for a crypto asset since it was launched or listed.
During the 2021 bubble, the largest and most valuable cryptocurrency, Bitcoin reached an all-time high of $68,789 on November 10, 2021.
But at the time of this write-up, Thursday, May 12, 2022 (15:05) BTC is trading at $29,444.70, which means BTC dropped more than 50% of its value since its 2021 bubble.
Its market capitalisation is $537,056,478,591 as against November 10, 2021 market capitalisation. It reached the highest market cap $1,226,431,510,693 in history, according to the November 2021 historical data of BTC.
Bitcoin was first introduced by Satoshi Nakamoto in 2009. It was worthless at the time of its invention. Its value has given birth to more than 1,000 digital coins. It remains the most popular cryptocurrency in the market.
The technology that backed the BTC blockchain is being explored by researchers in many sectors to quicken the ways and process of carrying out tasks that would have ordinarily taken weeks or months to accomplish.
Want to invest in Bitcoin?
You don’t have to buy a whole BTC. A bitcoin can be divided into small units called satoshis, named after the creator. A satoshi is equivalent to 0.00000001 bitcoin.
It is decentralized and community-driven. There will be 21 million BTC in existence. At the time of publication, 19,037,850 of bitcoins are circulating in the market and are in public hands.
The second most popular coin, Ethereum (ETH) is currently worth $2,007.62, losing at least -16.51% of its value in the last 24 hours compared to its $4,891.70 November 12, 2021, all-time high.
Ethereum’s market capitalisation currently stands at $231,467,440,214 as against November 2021 MarketCap when it hit $552,199,380,998.
About Ethereum (ETH)
The second-largest cryptocurrency token in terms of market capitalization, Ethereum (ETH) was founded by a Russian-born Canadian programmer, Vitaly Dmitriyevich popularly known as Vitalik Butein.
It was officially released on July 30, 2015. The creation of Ethereum was like a revolution to the cryptocurrency industry as the project brought a lot of innovations, especially its introduction of smart contract functionality, which open the way for the decentralized finance industry (DeFi).
Ethereum network is decentralised and also allows users to build and deploy software, commonly in the form of Dapps, which are then powered by a globally distributed network of computers all running Ethereum.
Ethereum is an open-source blockchain platform that runs on the usage of its native currency known as ETH or Ether.
On Thursday, May 12, 2022, $ 120.75M ETH are in circulation. There is no cap to the Ethereum Blockchain, meaning more of it will be mined. It’s reported that at least 5 new Ether can be created about every 14-15 seconds, says bitrates.
Tether (USDT) is the first and the largest stablecoin by market capitalisation and the third after BTC and ETH in the crypto space with $82,427,746,685, trading at $0.9953 compared to its all-time high $1.21549 which it posted on February 25, 2015.
About TetherUS (USDT)
Tether (USDT) is a stablecoin pegged to the United States dollar. It came to being in 2014 when it was known Realcoin.
Issued by Tether Limited, Tether was created by leading voices in the blockchain technology Reeve Collins, Brock Pierce, and Craig Sellers.
Tether was initially only available on the Bitcoin network through Omni Layer, it is now available on several blockchains like Ethereum, Solana, TRON, EOS, Algorand, and OMG network.
USD Coin (USDC)
Currently, worth $1, USDC is another stablecoin pegged to the US dollar. It was initially minted on Ethereum.
Currently, USDC is the second-largest stablecoin by market capitalization after Tether. It can directly be minted on USDC using US dollars without incurring any fee.
USDC which is a joint enterprise between Coinbase and Circle is available on Avalanche, Algorand, Ethereum, TRON, Hedera, Stellar, and Solana.
USDC’s all-time high is $2.3495564 on November 16, 2021.
If one compared the value of BNB on May 10, 2021, to what it is one year after, May 12, 2022, it’s clear that BNB has dipped by at least 50%, from $690.93 to $274.60 is a huge difference.
Launched through an Initial Coin Offering (or ICO) between June 26 to July 3, 2017, BNB is a cryptocurrency coin that powers the BNB Chain ecosystem.
It is one of the most popular utility tokens. The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB.
BNB is useful in many cases, they include:
- It provides liquidity on Binance Liquid Swap.
- It is used to participate in token sales hosted on the Binance Launchpad
- It used as a means of donation on Binance Charity
- It is used to pay for transaction fees on the BNB Smart Chain among others.
The all-time high of XRP since its launch is $3.84 which it attained on January 4, 2018. It is currently trading at $0.3884 with $18,801,147,715 market capitalisation.
XRP was developed by Ripple Labs Inc, a cryptocurrency payment system. XRP is Ripple’s digital asset built for global payments, which would allow users to send money at a very low cost.
Ripple Labs Inc was established in 2012 by Chris Larsen and Jed McCaleb based on the work of Ryan Fugger, who created the XRP Ledger in 2012.
Binance USD (BUSD)
BUSD is the third-largest stablecoin in the world by market capitalisation after Tether and USD Coin. Its all-time high is $ 1.1065118 on Mar 13, 2020. It’s currently $1.
Binance USD was launched on September 5, 2019. It is a USD-backed stable coin issued by Binance in partnership with Paxos, which is approved and regulated by the New York State Department of Financial Services (NYDFS).
Like BNB, BUSD has many uses, including being used as a means of payments and settlements; used to transfer digital dollars (BUSD) at low cost and on the blockchain among others.
Currently trading at $0.4612, the highest price Cardano has ever attained was $3.10 on September 2, 2021. ADA is a decentralized Proof-of-Stake (PoS) blockchain platform that was founded in 2017.
SOL is the 9th largest cryptocurrency by market capitalisation. SOL reached an all-time high during the 2021 bull, reaching $260.06.
Currently trading at $44.05, SOL has recorded one of the worst losses within a year when its value of November 6, 2021, is compared with May 2022.
About Solana (SOL)
Founded by Anatoly Yakovenko in 2017, Solana’s strength is its high transaction speed and processing times which it achieves through Proof of History technology.
Solana blockchain is the fastest with 65k TPS in the industry as it is capable of processing around 50,000 transactions per second.
But it’s reported that another blockchain has surpassed Solana’s speed. Bitgert blockchain is now the fastest for attaining 100k TPS, according to analyticsinsight.net
SOL is Solana’s native token and has an unlimited supply.
DOGE’s all-time high is $0.7375666 (May 08, 2021). Developed in 2013 by Jackson Palmer and Billy Markus, dogecoin started as “meme coin”.
The table below shows the all-time high of largest cryptocurrencies:
|Cryptocurrencies||All-Time High||Current Price Thursday, May 12, 2022 (16:02)|
|USD Coin (USDC)||$2.3495564||$1.00|
|Binance USD (BUSD)||$1.1065118||$1.01|
|Solana (SOL)||$ 260.06||$44.05|