Data released by Messari, a crypto market data aggregator, indicated that 83% of crypto assets, which hit an all-time high in January 2018, still dropped by at least 90%.
The data was discovered by Matt Casto, an analyst at CMT Digital. The data he posted on Twitter showed that the average return-on-investment (ROI) of crypto assets was sorted by the year in which they posted record price highs.
The data set includes 410 assets that set record prices during in 2017 or later, of which 157 stars in 2018 performed the worst, with an average of -90.71% since the last ATH.
Since then, the top crypto in 2017 have fallen by an average of 82%, while the 2019 harvest has fallen by 72%, and the standout in 2020 has fallen by 53%.
Data may help support the concept of "great repricing", and the funds that flowed into the the "ghost-chain" layer-one blockchains that dominated the field in 2017 and 2018 is now being redirected to the nascent DeFi field.
For some people, the concept is even a trading strategy. dHedge pool manager Wangarian describes his strategy as eager to "get direct value accumulation (DeFi) tokens" while selling short "dogs**t L1s that have no value accrual whatsoever."
However, in spite of the poor performances of many altcoins from yesteryear when compared to their record highs, many older altcoins have produced huge percentage increases since bottoming out.
Since finding local lows during the "Black Thursday" crash in March 2020, Cardano (ADA) has risen by approximately 1,700%, Zilliqa (ZIL) has risen by 2,670%, and the price of Decred (DCR) has increased 14,130% from their respective price floors.