Cryptocurrencies suffered a severe winter, and the market value avalanche.

(Reuters)

[Financial Channel/Comprehensive Report] The currency circle has been in trouble this year, and investors have been bloodbathed.

According to statistics from Statista, the number of active cryptocurrencies will decrease by more than 1,000 in 2022, setting a record. The market value has fallen from a high of US$3 trillion in November last year to US$850 billion, a sharp drop of 72%. The market value has evaporated by US$2.15 trillion in just one year ( About NT$65.8 trillion).

The world-renowned hardware website "Tom's Hardware" reported that 2022 will be a challenging year for the cryptocurrency market. After the bankruptcy of FTX, the founder was notorious and the confidence of the entire market was shaken. Its peak of $3 trillion has shrunk by 72% to its current level of around $850 billion.

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At the same time, the types of cryptocurrencies have also shrunk significantly. According to Statista statistics, the number of active cryptocurrencies has decreased by more than 1,000, the largest drop in history. The number of active cryptocurrencies has dropped from 10,397 in 2021 to 9,310.

The report believes that the decline in the number of cryptocurrencies is due to two reasons. First, due to the significant reduction in the investment volume of users and entities, some cryptocurrencies cannot survive the economic downturn. Second, the cryptocurrencies that disappeared from the market are just a scam.

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