Here's My Crypto MVP of 2022
This past year has been a painful one for crypto investors. The asset class hit an all-time high in November 2021, topping out at nearly $3 trillion, but has since shed around 70% of its value. Some sort of correction was likely inevitable after the monumental run cryptocurrency went on in 2020 and 2021, but this correction has been exacerbated by a series of controversial events that have caused many investors to lose faith in the industry.
Yet despite numerous bankruptcies, mass layoffs, and some cryptocurrencies becoming completely worthless, not all of 2022 was doom and gloom. To the surprise of some, one cryptocurrency had a phenomenal year of achievements.
While its price hasn't necessarily reflected its level of success, likely the result of ongoing macroeconomic factors, Polygon (CRYPTO: MATIC) has earned the spot as my crypto MVP of 2022. It has remained resilient compared to other cryptocurrencies despite its price being down nearly 70% year to date. While that price might sound like bad news to investors, Polygon's market cap jumped into the top 10 market caps of all cryptocurrencies amid the crypto winter.
Source Fool.com
