10x Research: Average price of top 115 cryptocurrencies down 50% from this year’s high

On June 19th, Markus Thielen, CEO of 10x Research, released a report stating that the average price of cryptocurrencies has dropped 50% from its peak in 2024, based on an analysis of the top 115 ranked tokens. Unless cryptocurrency liquidity improves significantly, these losses will continue to worsen. Currently, Bitcoin (-11%) and Ethereum (-13%) are showing relatively stable performance, which may be due to smart traders moving funds from altcoins to these two major mainstream cryptocurrencies. This phenomenon has occurred in both of the past two market cycles. Effective risk management became key to survival in the altcoin bear market. Token unlocks and unfavorable cryptocurrency liquidity indicators are considered to be the main causes of this crash. Thielen emphasizes that currently, altcoins are in a bear market. In 2024, 73% of these 115 tokens reached their peak in March.