About 80% of freshly minted cryptocurrencies are underwater and their average returns are close to zero relative to Bitcoin within a year, according to a Jump Crypto analysis.

While there are a few high-profile outliers, the majority of new coins were underperforming within the first month, the public-facing crypto brand for Jump Trading Group found, after analyzing 3,759 tokens — excluding assets like stablecoins — that were listed on CoinGecko and CoinMarketCap between the middle of 2013 and the end of last year. Jump measured returns from the token’s inception through the end of 2021.

Source: https://www.bloomberg.com/news/articles/2022-04-28/most-new-tokens-are-underwater-relative-to-bitcoin-within-a-year

Leave a comment

Your email address will not be published. Required fields are marked *