How some of the biggest cryptocurrencies fared in 2022

Yahoo Finance markets reporter Jared Blikre looks at how several cryptocurrencies performed in 2022.

Video transcript

JARED BLIKRE: Welcome back. From bankruptcies to declining prices, it's been a down year for cryptocurrency. Let's take a look at how some of the industry's largest digital assets performed in 2022. And we're going to start with the behemoth here, Bitcoin at 6-- down 65%. And like a lot of risk assets this year, the highs were made at the very beginning of the year. And the lows are being made towards the end.

Now it's a little bit different with Ethereum. Ethereum bottomed in about the middle of the year. You can see in June here. And it hasn't made a lower low since, so maybe a little bit better on a technical level. But I have to put a five-year chart to really show some of the important levels here.

Back in 2018, when Bitcoin had its run up to $20,000, Ethereum peaked out at 1,500. This is a key resistance level. And I think this still carries a lot of weight, a lot of price memory. Ethereum going to have to push above 1,500 before I would get serious about getting bullish about it again.

Similarly, for Bitcoin, going to have to push above $20,000. That's 16.5 right now, so got some work to do. We'll have to see if that comes to pass. But let me just show you, when I sort these by performance, some of the biggest losers here, not surprisingly, FTT token. That's really related to FTX and the bankruptcy, down 98%. Solana down 95%.

But I'm looking at Binance here-- not even down as much as Ethereum or Bitcoin. Pretty interesting year here because Binance, of course, is the largest standing crypto exchange in the world. And I would say if the 180-- if the 202-- if the 200 level to 180 cracks in Binance, it could be a tough, tough slog down for all of crypto.