The Harsh Reality of New Crypto: Just 7% of Major Tokens Beat Their Launch Price
The firm tracked 113 coins since their token generation event (TGE) price, with only 8 of them now above that price, a median return of -95.7%.
The sample is limited to projects with a market capitalization above $100 million as of July 21, CryptoRank told CryptoPotato.
CryptoRank Study: Eight Exceptions to the Rule
Eight coins included in the survey are in profit, led by HYPE, ONDO, EVA, and NIGHT.
Hyperliquidโs HYPE was up 1,519% from its launch price at the time of the surveyโs publication on July 21st. Ondo Financeโs ONDO followed at 101.4%, with EverValue Coin (EVA) and Midnight Network (NIGHT) up a more modest 20.3% and 16.5% respectively.
These figures are revealing, as we can see that even among those that are up, only a small handful showed outsized performance, with six of the eight achieving double-digit increases at best. Itโs worth noting that HYPE was also listed in the new S&P Pantera Digital Asset Index, which excluded many high-performing crypto assets, including Bitcoin.
Why the Decline?
CryptoRank states that sell-offs, thin liquidity, and regulatory uncertainty were the main causes of major drawdowns in these projects, although the market has also observed major crashes due to exploits and other factors in the last two years.
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