Out of the 113 tokens launched since 2024 with a market cap above $100M, only 8 still trade above their launch price, based on CryptoRank’s count as of July 21, 2026. The other 105 have fallen below their TGE price, or 92.9% of the sample. The median return sits at -95.7%. That single figure captures how hard it is for tokens launched since 2024 to hold their value.
Key Takeaways
- Only 8 tokens out of 113 (market cap above $100M) remain above their TGE price, or 7.1%.
- The sample’s median return reaches -95.7%, a near-total collapse.
- Hyperliquid leads the survivors at +1,519%, ahead of ONDO, EVA and NIGHT.
8 Tokens Out of 113 Hold Above Their TGE Price
The finding is brutal. Of the 113 projects tracked, launched between 2024 and 2026 and carrying a market cap above $100M, only 8 still clear their listing price. The other 105 have slipped below their starting level, leaving a share in profit of 7.1% against 92.9% underwater.
The scope matters. By keeping only tokens above $100M in market cap, the count published by CryptoRank filters out the long tail of illiquid micro-launches, the ones assumed to be the most fragile. In other words, the sample gathers the best-valued projects of the cycle, and the result is still crushing.
The median return seals the picture at -95.7%. A median token on this list has therefore lost almost all of its value since launch. That path echoes cases already documented, such as Movement Labs, whose token collapsed before the bankruptcy.
The problem goes beyond tokens. Whole teams shut down too, as when several DeFi projects wound down for lack of revenue. The lesson repeats with every wave of launches: holding a valuation is the exception, not the rule.
Hyperliquid Leads, ONDO and Two Lonely Survivors
The winners’ list fits in a few lines. Hyperliquid crushes the ranking with a +1,519% gain since its November 2024 airdrop, for a valuation nearing $13.7B. No other survivor comes close to that scale.
Behind it, the gap widens fast. Ondo Finance posts +101.4%, EverValue Coin +20.32% and Midnight Network +16.50%. The contrast with HYPE is stark, and the path of Hyperliquid, which strung together records up to its all-time high, shows how much the top of the ranking is a case apart.
These survivors share one trait: real usage and measurable revenue, not just a promise. Hyperliquid captures trading volume, Ondo drives asset tokenization. That is also what sets apart the few altcoins that perform, as shown by the very uneven momentum of the 2026 altcoin season.
The rest of the cohort lacks that footing. Many tokens launched since 2024 hit the market with a very high fully diluted valuation and a tiny float, a mix that programs the decline from the first unlocks. When most of the supply is still locked at listing, the visible price rests on a thin sliver of the total, and every scheduled release meets a market that has already watched the same script play out on the token before it.
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- UK Parliament Probes Crypto Banking Access
- Movement Labs Files for Chapter 11 After Token Collapse
- Liquid Staking Explained: How It Works and the Risks
What a -95.7% Median Return Says About the Market
In the short term, the mechanics are familiar. Early holders, often funds and market makers, sell as soon as liquidity allows, while token unlocks add a steady stream of supply. The price ends up under constant pressure, as Solana went through during its slide from its highs.
In the medium term, retail buyers change behavior. After a run of launches followed by sharp drops, distrust sets in and new tokens struggle to draw durable demand. The launch premium, long automatic, deflates. Airdrop farmers rotate out just as fast as they arrived, and the order books they leave behind are often too thin to absorb the next wave of unlocked supply.
For an investor, the message from tokens launched since 2024 is concrete. Buying a project at its listing statistically means betting against a base of 92.9% failures, unless you can spot the rare assets carried by real usage.
The current cycle invents nothing, but it amplifies an old flaw. As long as tokens ship with inflated valuations and heavy unlock schedules, the median return will stay deeply negative, and the survivors will keep fitting on one hand.
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