Major Crypto Tokens Plummet to New Lows: Just 7% Hold Above Launch Price

A recent study by CryptoRank analyzed 113 major tokens launched since their token generation event (TGE) price, and found that only 8 of them are now above that price. This represents a median return of -95.7%.

The sample included projects with a market capitalization above $100 million as of July 21. Among the eight coins in profit were HYPE, ONDO, EVA, and NIGHT.

HYPE was up 1,519% from its launch price at the time of the survey's publication on July 21st, while ONDO followed at 101.4%. EverValue Coin (EVA) and Midnight Network (NIGHT) were up a more modest 20.3% and 16.5%, respectively.

The study identified sell-offs, thin liquidity, and regulatory uncertainty as the main causes of major drawdowns in these projects.