Bitcoin and Ethereum are up 49% and 36% year-to-date. However, some major altcoins look surprisingly dull in 2024. Despite the overall increase in cryptocurrency market value, many major tokens have suffered dramatic losses since the beginning of the year. According to Colin Wu’s review, 8 altcoins in the top 100 saw major losses.
Worst performing altcoin projects in the top 100
‘cryptokoin.com’As you follow from, the overall crypto market has moved north this year. However, there are also those who go in the opposite direction. Some even witnessed huge losses in value. Among the 100 largest cryptocurrencies by market cap, 37 tokens have lost a significant portion of their value year-to-date. Meanwhile, the two largest cryptos, Bitcoin (BTC) and Ethereum (ETH), have made incredible gains. Crypto journalist Colin Wu, who reported this situation, shared the following on X, accompanied by a list:
Among the top 100 tokens by market capitalization, we counted 37 tokens whose price decreased this year. In the same period, BTC gained +48.9% and ETH +36.4%. Among them, STRK was the biggest loser with 50%, ORD with 45%, EGLD with 41%, MINA with 38%, BSV with 37%, ARB with 31%, INJ with 28% and MATIC with 27%.
Overall crypto market cap increased by 40% this year
The US SEC has given the green light to the long-awaited spot Bitcoin ETFs for the start of 2024. After this, cryptocurrencies started a new bull run. Thus, the net value of tokens increased from $1.773 billion to $2.467 billion. This value peaked at $2.891 billion on March 13. Additionally, Bitcoin dominance increased significantly during this period. According to TradingView data, BTC.D peaked at 57% in mid-April.
DWF Labs: The crypto market will rise in the second half of the year!
Andrei Grachev, co-founder of DWF Labs, shared his views on the market on social media. According to Grachev, the current cryptocurrency market has entered a rather calm and even boring phase. Grachev says more impetus is needed to ensure capital inflow. Additionally, Grachev notes that it is a good period for construction, but the timing of investment and financing is average.
Additionally, Grachev states that it is possible that the market will continue to decline or trend sideways over the next few months. However, Grachev predicts that market activity will increase after this. In this regard, he predicts that the approval of Ethereum ETFs will bring the bulls back into the market. Data shows that Google search popularity has fallen to December 2023 levels. But interestingly, even though the public’s interest in cryptocurrencies has not reached previous highs, the market still reached new highs.
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