3 Cryptos That Lost Their Way: Hype vs. Reality in 2022 (Compared to 2021)
The crypto markets churned out ‘overnight superstars’ between 20 during the bull market rally that saw Bitcoin reach its all-time high of $69,044. New meme coins and innovative blockchain projects seemed to pop up daily, fueled by incredible hype and promises of massive returns. However, the landscape shifted dramatically in 2022. Many of these once-promising cryptocurrencies struggled to maintain momentum, with some facing significant price declines and waning community interest. Popular examples of coin failures include LUNA, UST, BCC, and SQUID tokens. Some of the reasons for these cryptos to fail include developers abandoning them.
Which Cryptos Faded in 2022?
Let\'s explore three cryptocurrencies that experienced a significant drop in popularity and value between the hyped-up environment of 2021 and the more challenging market conditions of 2022.
1. Avalanche (AVAX-USD): From Ethereum Killer to a Shadow of Its Former Self
Avalanche once garnered significant attention as a potential "Ethereum killer," boasting faster transaction speeds and lower fees. However, Avalanche has fallen by nearly 90% in 2025 and its association as an “Ethereum killer” has dissipated. While the project continues to develop and offer a viable blockchain platform, its price performance and community enthusiasm have significantly cooled compared to the fervor of 2021.
2. Cronos (CRO-USD): The CRO Community
Cronos has fallen off. The exchange continues to operate, and CRO still has utility within its ecosystem, the overall sentiment surrounding the token and its long-term potential has diminished considerably. The broader market downturn further compounded the issues, contributing to a substantial price decrease.
Understanding the Crypto Landscape
The volatility and rapid changes within the cryptocurrency market highlight the importance of thorough research and cautious investment strategies. Projects that enjoy massive hype one year may face significant challenges the next. Always conduct your own due diligence before investing in any cryptocurrency, and be aware of the risks involved.