Top 10 biggest crypto losers in October 2022

September is over, and the cryptocurrency market seems to be preparing for a long winter. Retrospect is important, so you should always know how things developed before. Recall that many coins lost value in August and continued their decline further.  

However, October is considered a good month for Bitcoin, which could pull altcoins up. There is always a chance. But if you don’t keep track of what’s happening in cryptocurrency, you can lose money investing in the wrong tokens. That’s why we’ve gathered ten cryptocurrencies that showed the biggest price drop in the last 30 days.

Of course, we are not giving any recommendations, but only data from CoinMarketCap for the month and as of October 7. 

Toncoin (TON) 

The token is priced at $1.38 and is ranked #33, with a total market cap of $1,691,028,322. There are 1,221,401,181 TON coins in circulation, with a maximum possible 5,000,000,000. 

The developers of Toncoin call it the next-generation network, which will unite all blockchains and the existing internet (but judging by the continuing fall, if it happens, it will not happen soon). 

In the Toncoin network, bets placed by validators are used to gain the right to validate transactions and generate new blocks and coins. TON tokens are given voting rights to support or oppose changes in protocol parameters.  

Validator nodes are rewarded for processing transactions and smart contracts as part of the Proof-of-Stake (PoS) consensus. Credits can be issued to them against a share of their remuneration. Payment is available for services and options implemented by TON Services, TON Storage, TON DNS, TON Proxy, and TON WWW. 

UNUS SED LEO (LEO) 

This token moved to the October losers list from the September gainers list. While last month the token’s price reached $5.73, it has now fallen to $4.09 and continues to decline. Current position in CoinMarketCap ranking is #19 with real capital of $3,902,456,597. There are 953,954,130 LEO coins in circulation, and no maximum supply is available. 

UNUS SED LEO is a utility token used in the iFinex ecosystem. The unusual name is based on a Latin quote from Aesop’s fables. 

The cryptocurrency allows Bitfinex users to save on trading fees. LEO coins are constantly burning, so iFinex buys UNUS SED LEOs off the market every month. This increases their value (although you can’t say that in the current situation). The buyback will continue until the company returns 100% of the tokens. 

EOS (EOS) 

Another coin that made it here from the list of September gainers. Over the past month, its price fell from $1.47 to $1.14. The current rating is #45, with a total market cap of $1,142,386,885. The circulating supply is 1,002,560,026 EOS coins; the maximum supply is unavailable. 

EOS is an open-source blockchain platform based on the EOS virtual machine. It offers transactions with very low fees. Delegated Proof-of-Stake (DPoS) tokens are considered the most scalable and programmable in the market today.  

Rights are distributed to all participants in the network, not just miners. Stakeholders have the right to choose node operators. 

Lido DAO (LDO) 

LDO is priced at $1.48 per token with a current ranking of #74 and a market cap of $463,106,983. There are only 312,951,154 coins in circulation, and the maximum supply is 1,000,000,000. 

LDO is a proprietary utility token needed to grant management rights in the Lido DAO, manage commission parameters and their distribution, and add and remove node operators.  

Lido itself is a liquid betting solution for Ethereum. Lido allows users to bet on their ETH — with no minimum deposits or infrastructure maintenance — and simultaneously participate in on-chain activities such as lending. 

Ethereum Classic (ETC) 

Ethereum Classic tokens are priced at $27.44, and the current position is #21. The market capitalization reaches $3,766,856,639. The circulating supply is 137,253,675 coins, and the maximum supply is 210,700,000. 

Ethereum Classic (ETC) is a hard fork of Ethereum (ETH), launched in July 2016. It is capable of hosting and supporting decentralized applications (DApps). ETC is the network’s native token. 

Unlike Ethereum, Ethereum Classic has no plans to move to a Proof-of-Stake (PoS) mining algorithm and will remain on Proof-of-Work (PoW). At the same time, numerous developers continue to work on future improvements, such as scaling solutions. 

Synthetix (SNX) 

Synthetix tokens are trading at approximately $2.25. They are ranked #69, with a total market cap of $536,435,369. There are 238,500,594 SNX, with a maximum supply of 291,657,310. 

Synthetix is a decentralized financial protocol (DeFi) based on the Ethereum blockchain. It allows trade on the blockchain for a wide range of different assets. The protocol is blockchain-based (ETH) and offers users access to highly liquid synthetic assets (synths). Synths track and provide returns on the underlying asset without requiring the user to own it directly. 

The platform differs from others by introducing non-blockchain assets, providing access to a more robust financial marketplace. 

Curve DAO Token (CRV) 

Curve DAO token is valued at $0.880785 with a position in the #73 rating. The market capitalization reaches $468,210,858, with a coin offering volume of 531,583,334 with a full offering of 3,303,030,299. 

The Curve is a decentralized exchange for stablecoins launched in 2020, where liquidity is managed by an automated market maker (AMM). 

In August, Curve launched a decentralized autonomous organization (DAO) with its CRV token. It uses the Ethereum-based Aragon tool to connect multiple smart contracts to provide liquidity to deposited user funds. 

Terra Classic (LUNC) 

Terra Classic’s price dropped to $0.000291 with a position in the #31 ranking. The token has a market cap of $1,791,805,658. There are 6,151,072,613,161 LUNC coins in circulation (maximum unknown). 

Terra is a scandalous 2019 creation blockchain protocol that uses fiat stablecoins. In May 2022, a genesis blockchain of the new chain called Terra (LUNA) was launched, and the original Terra blockchain was rebranded as Terra Classic. The original LUNA native token has also been renamed LUNA Classic (LUNC). And all stable chain coins (UST, KRT, EUT) have been renamed Terra Classic (USTC, KRTC, EUTC). 

Klaytn (KLAY) 

Klaytn is valued at $0.187820 per token and ranks 66th. It has a market cap of $574,556,638 and a circulating supply of 3,059,087,940 KLAY coins (maximum unknown). 

Klaytn is South Korea’s leading public blockchain for the metaverse, gameplay, and creator economy, launching in June 2019. 

To simplify the creation of the metaverse, Klaytn offers customers a comprehensive package with customizable L2 solutions, SDK and smart contract libraries, IPFS solutions, wallets, chain observers, oracles and bridges, and an ecosystem of support services. 

Loopring (LRC) 

Loopring coin fetches $0.287421 and is ranked #89 by CoinMarketCap. The market cap is $382,308,869. The size of the token’s circulating supply is 1,330,133,546 (with a maximum of 1,374,513,896 LRC). 

LRC is an Ethereum-based open-source Loopring token (launched in 2019). It is designed to create decentralized crypto exchanges. 

The platform wants to combine centralized order matching with decentralized order settlement on the blockchain into a hybridized product that will take the best from centralized and decentralized exchanges.