Here's a quick overview of token drawdowns compared to their local highs across different narratives:
Layer 1s:
- $BTC down 5%
- $ETH down 15%
- $SEI down 42%
- $SOL down 18%
- $APT down 37%
- $AVAX down 29%
- $FTM down 25%
- $INJ down 39%
- $MINA down 40%
- $NEAR down 23%
- $SUI down 31%
- $RON down 18%
- $NEON down 63%
Modular Blockchains:
- $TIA down 48%
- $DYM down 46%
- $CTSI down 41%
- $SAGA down 35%
- $ZETA down 42%
Layer 2s:
- $ARB down 40%
- $OP down 39%
- $STX down 21%
- $METIS down 41%
- $IMX down 31%
- $MANTA down 35%
- $MATIC down 33%
- $MNT down 18%
- $SKL down 16%
- $STRK down 31%
Layer 3s:
- $DEGEN down 45%
AI:
- $OLAS down 50%
- $RNDR down 35%
- $AGI down 52%
- $TAO down 10%
- $FET down 27%
- $AI down 41%
Gaming / NFT:
- $PIXEL down 32%
- $PRIME down 23%
- $BLUR down 38%
- $MANA down 26%
- $AXS down 30%
- $SAND down 26%
- $RLB down 53%
Oracles:
- $PYTH down 32%
- $LINK down 25%
Memes:
- $WIF down 27%
- $DOG down 12%
- $SHIB down 40%
- $DOGE down 16%
- $PEPE down 36%
- $MYRO down 51%
DePin:
- $AR down 35%
- $FIL down 32%
RWA:
- $ONDO down 28%
- $MPL down 21%
Liquid Staking:
- $JTO down 30%
- $LDO down 37%
DeFi:
- $PENDLE down 2%
- $ENA down 3%
- $AAVE down 23%
- $COMP down 32%
- $CRV down 32%
- $SNX down 27%
- $RUNE down 39%
- $UNI down 45%
- $JUP down 30%
- $SUSHI down 33%
- $AEVO down 37%
- $DYDX down 34%
CEX:
- $CRO down 21%
- $LEO down 5%
- $KCS down 35%
- $OKB down 23%
Bridges:
- $W down 56%
- $SYN down 36%
Observations:
- Layer 1s holding relatively better than other infrastructure tokens
- Modular blockchain tokens taking a hit
- Layer 2s performing averagely except for a few outliers
- AI coins like $TAO gaining momentum again
- Possibility of modular tokens and $SEI following $TAO's lead soon
- Top memecoins likely to remain in a supercycle with some quality projects catching up
- Certain tokens leading the DeFi/RWA narratives, others sluggish unless new proposals emerge
- Bullish outlook for $SUI & $RON, promising R:R for the rest of the cycle
