Bitcoin and Ethereum are up 49% and 36% year-to-date. However, some major altcoins look surprisingly uninspiring in 2024. Despite the overall increase in cryptocurrency market capitalization, many major tokens have suffered dramatic losses since the start of the year. According to Colin Wu’s review, 8 altcoins in the top 100 have seen massive losses.
The worst performing altcoins in the top 100
As you have been following on Kriptokoin.com, the overall crypto market has moved north this year. However, there are some that have gone in the opposite direction. Some have even witnessed huge losses in value. Among the top 100 cryptocurrencies by market capitalization, 37 tokens have lost a significant portion of their value year-to-date. Meanwhile, the two biggest cryptos, Bitcoin (BTC) and Ethereum (ETH), have seen incredible gains. Reporting on this, crypto journalist Colin Wu posted the following on X, accompanied by a list:
Among the top 100 tokens by market capitalization, we counted 37 that have fallen in price this year, with BTC +48.9% and ETH +36.4% over the same period. Among them, STRK was the biggest loser with 50%, ORD 45%, EGLD 41%, MINA 38%, BSV 37%, ARB 31%, INJ 28% and MATIC 27%.
Overall crypto market capitalization up 40% this year
The US SEC gave the green light to the long-awaited spot Bitcoin ETFs at the start of 2024. Following this, cryptocurrencies started a new bull run. Thus, the net worth of tokens rose from $1.773 billion to $2.467 billion. This value peaked at $2.891 billion on March 13. Bitcoin dominance also increased significantly during this period. According to TradingView data, BTC.D peaked at 57% in mid-April.
DWF Labs: The crypto market will be bullish 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 that more driving force is needed to ensure capital inflow. Furthermore, Grachev notes that it is a good period for construction, but the timing of investment and funding is average.
In addition, Grachev says it is likely that the market will continue to fall or remain flat over the next few months. However, Grachev predicts that market activity will increase after that. In this context, he predicts that the approval of Ethereum ETFs will bring the bulls back to the market. The data shows that Google search popularity has fallen back to December 2023. But interestingly, even if public interest in cryptocurrencies has not reached previous highs, the market has still reached new highs.
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