Amidst the ongoing decline in the value of #tokens listed on Binance in 2024, quote statistics show a sharp decline in the valuations of most assets since their listing. Among the new cryptocurrencies, only 2 - JUP and $WIF
- have shown positive dynamics from the moment they appeared on the world's largest trading platform until today. The rest have shown significant losses, and several tokens have lost more than 80% of their initial #Capitalization .
$JUP
(Jupiter) and WIF (dogwifhat) remained in the plus side amid massive declines, making them unique among the other assets that failed to hold their positions. The cryptocurrency #jup.. posted a 10.5% increase in #MarketCapitalization , while WIF saw a 12.1% increase. In the context of a general market decline, this may speak about the high stability of these assets or about the active interest of investors, which helps them to maintain a positive trend.
On the other hand, a number of tokens showed a catastrophic drop in value. Among the hardest hit are $AEVO
, PORTAL, W, and TNSR, each of which lost more than 80% of its original valuation. For example, AEVO dropped in value by 89.7% and PORTAL lost 89.1%. These steep declines could be due to lack of liquidity, high volatility, or weak interest from institutional and retail investors.
The reasons why some of the tokens failed to stay afloat could be related to both high expectations at the initial offering stage and overloaded supply amid low demand. Investors looking for short-term gains may have been faced with the realities of a bear market and lack of fundamental value, leading to massive sell-offs. Notably, most of the tokens that lost most of their value belong to projects focused on blockchain infrastructure or the DeFi segment, where competition is very high.
