The year 2022 is coming to an end, leaving behind a year of widespread falls in the market. The tokens that stand out the most are those that achieve less negative results than the assets with the largest capitalisation in the crypto market, $BTC and $ETH.
Therefore, I wanted to make a ranking of the tokens that have best survived this situation, as it can be of great help to distinguish the most successful sectors or even those tokens that have had a better annual performance than the average for their sector.
As we can see in the image, the ranking is ordered by annual performance and in the last positions we see $BTC and $ETH with returns close to -65%. Despite this, these results are well above other strong tokens in the sector such as $SOL, $PERP or $SAND that reach losses close to -95%.
The first place in the ranking is occupied by $APE, the governance token of the ApeCoin ecosystem that we analysed last week. As I mentioned in the post in the following link, it is a token that has been listed during the year, so the comparison is a little unfair, as the accumulated performance is maintained thanks to the initial pump that was created at the time of its listing.
Second place goes to $TRX with a performance of -28%. The TRON network token, which despite maintaining a bearish trend since reaching its ATH at $0.18 in April 2021, continues to respect that support zone at $0.045/$0.05.
This support zone, which was already tested in the summer of 2021 and in June and November 2022, continues to be the key area for the evolution of the price of $TRX, which so far leaves falling highs that form a descending triangle figure. This formation can break in both directions, but as in almost all technical formations, the most important thing to confirm the breakout is that it breaks with high volume and if possible with confirmation of crossover in the RSI, otherwise it could be a false breakout.
The third place on our podium is occupied by $XMR, which closed the year with a -36% drop. The Monero token, one of the most prominent in the privacy sector, maintains a downtrend that is leaving declining highs but has found support in the $100 area.
The situation is similar to the one we saw in $TRX, but with the difference that in $TRX the support is lateral and in the case of Monero ($XMR) the support is descending and forms a wedge with the downtrend line.
Another aspect that I would like to highlight is the half-yearly evolution of $XMR, which as we saw in the first image is +26% from this area of lows at $100. This recovery has generated a higher low, but it still has to be confirmed with a higher high above $175, so that we can begin to contemplate a possible scenario of a change in trend.
The rest of the ranking includes tokens from exchanges such as $BNB and $HT, which seem to have emerged stronger after the bankruptcy of FTX, as well as others such as $LTC, $QNT and $AMB, which have performed well during the last six months of the year, improving their annual performance.
Despite these increases in the second half of the year, the overall situation continues to be very unclear, as we enter 2023, which will start dragging inflation problems in the US and the consequences of the war in Ukraine. Also, it will be the last full year before the halving of Bitcoin, scheduled for the first half of 2024.
Finally, remember that nothing discussed in our articles can be considered as investment advice. Everyone must do their own analysis and develop their own trading strategy. The BELOBABA team only shows analysis and investment tools, and how they help us in our operations when making decisions.
Wishing you a Happy and Prosperous New Year!