Cryptocurrency market cap was $2.2 trillion at the start of the year. At year's end, it's just under $800 billion.
Many of the industry's top companies collapsed as last year's exuberant highs turned into a massive bear market.
Crypto values fell when central banks ended easy money policies.
which initially brought down risky assets, then bankruptcies, suspended accounts, and frauds.
This year, the race for spectacular returns became a struggle for least catastrophic losses.
The results show a mishmash of cryptocurrencies rather than an industry trend.
After exceeding bitcoin by 355% last year, ether (ETH-USD) fell slightly under 70% in 2022 to rank 10th.