What was the worst performing cryptocurrency in 2024?
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Bitcoin ended 2024 on a high note, despite the recent pullback across the crypto market. Unfortunately, the same cannot be said for many altcoins. Let’s take a closer look at the crypto biggest losers of 2024.
The total cryptocurrency market cap reached an impressive $3.5 trillion at the beginning of 2025, reflecting strong overall growth. Bitcoin (BTC) hit an all-time high of $108,300 in December before cooling slightly to trade below $100,000 as of January 3, 2025.
Although the broader crypto market experienced growth in 2024, many altcoins faced significant hurdles. Late-year market dips hit smaller coins hard, driving sharp declines in their values.
Let’s examine the altcoins that struggled the most last year and explore the factors behind their downturn. What are the worst crypto coins of 2024?
Table of Contents
Top crypto losers 2024
In 2024, several cryptocurrencies, including both major and smaller-cap projects, faced significant losses, making them the worst-performing crypto assets of the year. These crypto losers saw sharp declines in their valuations, with some even struggling to maintain their market relevance.
| Rank | Name | Symbol | Price | 24H % | 7D % | Market Cap | Volume 24H |
|---|---|---|---|---|---|---|---|
| 50 |  Arbitrum | ARB | $0.723352 | 6.78% | -20.29% | $3,045,295,485 | $379,449,660 |
| 128 |  Polygon | MATIC | $0.450562 | 6.63% | -13.23% | $854,348,921 | $9,342,127 |
| 83 |  Lido DAO | LDO | $1.65 | 13.33% | -17.54% | $1,481,854,954 | $197,019,480 |
| 12 |  Avalanche | AVAX | $35.98 | 5.84% | -17.65% | $14,790,454,134 | $473,831,454 |
Let’s take a look at the top 4 biggest crypto failures of 2024.
Arbitrum
Arbitrum (ARB), once considered a leader in the Layer 2 scaling solutions sector, had a disastrous year in 2024, experiencing a massive 57.7% drop. This dramatic decline was largely driven by increased competition in the Layer 2 space, where new, more efficient solutions emerged.
Additionally, scalability issues hindered Arbitrum’s growth, making it one of the weakest cryptocurrencies of the year. The project’s inability to innovate and adapt quickly to evolving market demands left it struggling to retain investor confidence.
Polygon
Polygon (MATIC), another Layer 2 solution that saw immense success in previous years, faced a steep 39.69% decline in 2024. The primary causes for this drop were increased competition from newer Layer 2 solutions and ongoing scalability issues that hindered its ability to scale efficiently. While Polygon had previously been a top performer, these challenges caused its value to stagnate, making it one of the top crypto losers of the year. The competition in the scalability sector intensified, pushing Polygon further into the shadows despite its earlier success.
Lido DAO
Lido DAO (LDO), a decentralized staking platform, faced a 37.9% drop in 2024, making it one of the worst crypto performers of the year. The sharp decline was largely attributed to mounting regulatory uncertainty in the crypto space, which created an environment of fear among investors. Furthermore, Lido DAO’s struggle to maintain its market position amidst rising competition in the staking sector contributed to its downfall. Regulatory concerns surrounding DeFi platforms and staking services made Lido one of the worst performing cryptocurrencies in 2024.
Avalanche
Avalanche (AVAX), once touted as a high-performance blockchain platform, fell 23.7% in December 2024. This underperformance marked a sharp contrast to its previously high-growth trajectory. One of the key factors behind Avalanche’s struggles was the decrease in developer activity on the platform, coupled with challenges in attracting dApps.
The slowdown in Avalanche’s ecosystem expansion contributed to its failure to capitalize on the growth seen by other blockchain platforms. Despite being a well-known project, it became one of the most worthless cryptocurrencies in 2024.
Minimizing risk in 2025
These cryptocurrency losers exemplify the volatile and unpredictable nature of the cryptocurrency market.
Even established projects like Arbitrum, Avalanche, Polygon, and Lido DAO can fall victim to market shifts, competition, and regulatory pressure. As the crypto landscape continues to evolve, investors should remain cautious and aware of the risks involved.
It’s important to recognize that the market can be unpredictable. While some altcoins are performing well, others are facing steep declines.
To minimize risks, consider diversifying your investments across different assets. Setting clear investment goals and using strategies like stop-loss orders can also help manage risks effectively.
- In the end, while the crypto market offers great potential, it’s wise to proceed carefully. Remember, only invest what you can afford to lose, and always approach investment decisions with diligence.
FAQs
Why does the value of cryptocurrency change?
A crypto’s value changes based on multiple forces like investor interest, shifts in technology, regulatory updates, and competition within the market. News from around the world, shifting economic conditions, and the unpredictable nature of speculative trading all add up to cause cryptocurrency prices to fluctuate.
Which crypto has fallen the most in 2024?
Arbitrum experienced the most significant loss in 2024, dropping by 57.7%. This decline was primarily due to increased competition in the Layer 2 solutions space and scalability issues, causing Arbitrum to struggle in maintaining its market position and losing investor confidence. Consequently, Arbitrum missed out on the booming interest in Layer 2 solutions, and this only amplified its struggles, pushing its value further down.
What are the biggest crypto losers of all-time?
A bright example is Terra Luna. In May 2022, the Terra ecosystem, comprising the LUNA token and its algorithmic stablecoin UST, experienced a catastrophic collapse. UST lost its peg to the U.S. dollar, leading to a massive devaluation of LUNA and wiping out approximately $40 billion in market value. This event had a profound impact on the cryptocurrency market, highlighting the risks associated with algorithmic stablecoins.
