10x Research Top 115 Cryptocurrencies Drop 50 from Yearly Highs

Markus Thielen, CEO of 10x Research, released a report stating that the average price of cryptocurrencies has dropped by 50% from its peak in 2024, based on an analysis of the top 115 ranked tokens. Unless there is significant improvement in cryptocurrency liquidity, these losses will continue to worsen. Currently, Bitcoin (-11%) and Ethereum (-13%) are showing relatively stable performance, possibly due to smart traders moving funds from altcoins to these two major cryptocurrencies, a trend observed in the past two market cycles. Effective risk management has become crucial for survival in the altcoin bear market. Token unlocks and unfavorable cryptocurrency liquidity indicators are considered the main reasons for this recent plunge. Thielen emphasizes that altcoins are currently in a bear market. In 2024, 73% of these 115 tokens reached their peak in March.