cryptocurrency
Bulletins

Cryptocurrencies are tanking. This chart shows how bad it is.

If you bought one of the 10 most popular cryptocurrencies a month ago, you'd have lost a ton of money.

Crypto is falling

It wasn’t going to end well, was it?

Illustration: Christopher T. Fong/Protocol

Bitcoin peaked in November above $60,000. Then came the Super Bowl ads, Crypto.com Arena and a flood of TikTok influencers promoting the latest altcoin. It wasn’t going to end well, was it?

The crypto crash has hit nearly every token and knocked even some stablecoins off their peg. But the carnage hasn’t been even. The luna token associated with the Terra blockchain lost almost all its value amid a run on its paired UST stablecoin. Bitcoin, ether and even dogecoin proved hardier than newer coins. The question now is when the market will find its bottom.

Owen Thomas

Owen Thomas is a senior editor at Protocol overseeing venture capital and financial technology coverage. He was previously business editor at the San Francisco Chronicle and before that editor-in-chief at ReadWrite, a technology news site. You're probably going to remind him that he was managing editor at Valleywag, Gawker Media's Silicon Valley gossip rag. He lives in San Francisco with his husband and Ramona the Love Terrier, whom you should follow on Instagram.

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Bulletins