The firm tracked 113 coins since their token generation event (TGE) price, with only 8 of them now above that price, a median return of -95.7%.

The sample is limited to projects with a market capitalization above 0 million as of July 21, CryptoRank told CryptoPotato. The token generation event, or TGE, is the moment a project first mints and distributes its coin to the market, and it typically sets the reference price against which all later performance is measured.

CryptoRank Study: Eight Exceptions to the Rule

Eight coins included in the survey are in profit, led by HYPE, ONDO, EVA, and NIGHT.

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

These figures are revealing, as we can see that even among those that are up, only a small handful showed outsized performance, with six of the eight achieving double-digit increases at best. It’s worth noting that HYPE was also listed in the new S&P Pantera Digital Asset Index, which excluded many high-performing crypto assets, including Bitcoin.

Why the Decline?

CryptoRank states that sell-offs, thin liquidity, and regulatory uncertainty were the main causes of major drawdowns in these projects, although the market has also observed major crashes due to exploits and other factors in the last two years.

Thin liquidity means there are relatively few buyers and sellers active in a market, so even modest sell orders can push a price down sharply. Many new tokens also launch with only a small share of their supply in circulation, and as locked allocations held by teams, early investors, and the treasury gradually unlock, the growing available supply can weigh on the price unless demand keeps pace. Regulatory uncertainty adds another layer of risk, since unclear rules around how a token is classified or traded can keep larger, more cautious investors on the sidelines.

Only 7.1% of Tokens Launched Since 2024 Are Still in Profit

Out of 113 projects with a market capitalization above 0M, only 8 are trading above their TGE price, while 105 are already in the red.

This highlights how difficult it has been for newly launched tokens to sustain…

—

The tokens studied spanned a wide range of niches in the crypto industry, including DeFi, gaming, and various infrastructure projects. That breadth suggests the problem is not confined to a single corner of the market but reflects a broader challenge in turning early hype into lasting value. The findings come as the broader market recovers, with bitcoin climbing above ,000 this week on higher ETF inflows and weaker US inflation data. For investors, the takeaway is a reminder that a strong launch narrative is no guarantee of durable returns, and that surviving past the initial excitement is where most new tokens struggle.

Source: CryptoPotato