Top five crypto winners (and losers) of 2022

cointelegraph.com:

Cointelegraph looks back on the best and worst-performing cryptocurrencies of 2022 among the top 100 assets by market capitalization. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. 25, 2022.

Overall, Cryptoindex.com 100 (CIX100), an index that tracks the 100 best-performing cryptocurrencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022.

Stablecoins are naturalomitted from the list below. Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored.

Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens, and others.

GMX acts as a utility and a governance token within the GMX decentralized exchange (DEX) ecosystem and is the best-performing digital asset among the top 100 coins (excluding stablecoins).

GMX's price uptrend mostly picked its cues from the collapse of FTX, a centralized exchange, and its listing on popular trading platforms—including Binance and Huobi Global—across 2022. In addition, the token rallied impressively in late November after its platform briefly surpassed its top DEX rival, Uniwap in daily trading fees.

Trust Wallet Token (TWT) serves as a utility and a governance token within the Trust Wallet ecosystem. The token moved lower in tandem with the rest of the crypto market, mostly in 2022, but like GMX, its upside momentum increased amid the collapse of the FTX exchange in November.

As Cointelegraph reported, the FTX's collapse boosted mistrust for centralized exchanges, which may have prompted investors to move their funds to self-custody wallets like Trust Wallet. The speculation could have played a major role in boosting TWT's valuation.

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