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Semi-ironic Twitter account tracked the one-year performance of the top picks highlighted by Adam Cochran, Cinneamhain Ventures founder and fintech expert.
Check out "2022 shopping list" by Adam Cochran
On Dec. 30, 2021, Cochran shared his "2022 shopping list" that included altcoins that could outperform markets in 2022. He divided his recommendations into "god tier," "strong outperform," "outperform," "value," "risk-on but potential" and "high-risk" segments.
It's time for a 1-year update on the 206-tweet-thread 'altcoin outperform shopping list for 2022' by @adamscochran
— Shitcoin minimalist (parody) (@bccponzi) December 30, 2022
Lets breakdown how the 37 picks on the list performed this year👇 pic.twitter.com/3HIlEkuILU
On Dec. 30, 2022, anonymous Twitter commentator Shitcoin minimalist (@bccponzi) shared the performance demonstrated by all assets from Cochran's portfolio. It appeared that the CAP token is the best performing asset on this list: it only lost 33% of its price in 2022.
By contrast, some of the tokens mentioned by the analyst lost over 95% (which means that their valuations declined 20x). Keep3rV1 (KP3R), Helium (HNT), Perpetual Protocol (PERP), Futureswap (FST), Hundred Finance (HND) were among the worst performers with 95-98% losses. Babylon Finance (BABL) lost over 99.9% of its price: since mid-November 2021, its price dropped from $216 to $0.06.
The Flux (FLX) token that was labeled "strong outperform" lost 98% of its price. Ironically, "god tier" and "strong outperform" were decimated more mercifully than others, losing 86% and 87.3%, respectively.
Bitcoin (BTC) was "safe haven" for investors in 2022
Other segments, including "risk-on" and "high-risk," lost 80-84.5%. Overall, the result of the "2022 shopping list" was 83.92% being lost.
Meanwhile, Ethereum's (ETH) price only declined by 68.7%; Bitcoin's (BTC) price dropped by 64.8%. Bitcoin (BTC) and Ethereum (ETH) look like "safe haven assets" amid the painful crypto market plunge.
The net capitalization of cryptocurrency markets dropped by almost 61%. On Nov. 22, 2022, cryptocurrency market capitalization reached its bottom below $780 billion.