Nearly 93% of crypto tokens launched since 2024 are now trading below their token generation event [TGE] price, according to new data from CryptoRank, underscoring the challenges new projects face in sustaining their initial valuations.
The analysis found that only 8 of 113 crypto projects with market capitalizations above $100 million remain above their TGE price. The other 105 have fallen into negative territory.
Only 7.1% of major token launches remain profitable
CryptoRank’s research, which examined tokens launched between 2024 and 2026 with market capitalizations exceeding $100 million, paints a stark picture of the post-launch market.
According to the data, just 7.1% of projects continue to trade above their launch price, while 92.9% have declined below it.
The median return across the dataset stood at -95.7%, highlighting the extent of the drawdowns experienced by many recent token launches.
Among the strongest performers, Hyperliquid [HYPE] led the pack with a gain of 1,519% from its TGE price. It was followed by Ondo Finance [ONDO] at 101.4%, EverValue Coin [EVA] at 20.32%, and Midnight Network [NIGHT] at 16.50%.
The market has become increasingly selective
The findings suggest investors have become far more selective than during previous market cycles, when many newly listed tokens experienced sustained rallies after launch.
Instead, capital has increasingly concentrated around a smaller group of projects that have demonstrated product adoption, ecosystem growth, or strong market demand. Many newly launched tokens have struggled to maintain their initial valuations.
The data also reflects a broader trend in recent years, with investors paying closer attention to tokenomics, circulating supply, unlock schedules, and long-term utility rather than focusing solely on launch-day momentum.
What it could mean for future token launches
The figures may also influence how future crypto projects approach token launches.
Projects have increasingly faced scrutiny over high fully diluted valuations [FDVs], limited circulating supply at launch, and large future token unlocks, all of which can place downward pressure on prices as additional supply enters the market.
As a result, developers and investors may place greater emphasis on sustainable token distribution models and long-term ecosystem growth rather than aggressive initial valuations.
Final Summary
- CryptoRank found that only 8 of 113 crypto tokens launched since 2024 with market caps above $100 million are trading above their TGE price, leaving 92.9% below launch levels.
- The data highlights how difficult it has become for newly launched tokens to sustain their initial valuations, with the median return across the sample standing at -95.7%.
