Recent data from Coin 98 Analytics shows that many digital assets have lost a huge amount of value. This is a huge change for the cryptocurrency market. The most recent numbers, which were shared in an X post on August 6, show that the values of a number of well-known tokens have dropped significantly.
Binance Labs and Pantera Capital are supporting the well-known cryptocurrency company Aevo. Its fully diluted value (FDV) has dropped by an amazing 90.1%. When Aevo was first listed, it was worth $3.22 billion. Now, it’s only worth $342 million. Even though it has a lot of support, the token hasn’t been able to handle the ongoing market volatility. This is part of a larger trend of significant cryptocurrencies losing a lot of value.
Crypto Tokens Plunge Dramatically
The price of Aevo has gone up 7.5% in the last 24 hours, reaching $0.3414 as of the most recent report. But this small rise doesn’t do much to make up for the token’s overall losses. Aevo’s price has dropped by almost 37% in the last week. In the past two months, it has dropped more than 59%.
Aevo is not the only one having a hard time. A lot of value has been lost in other tokens as well. The value of Portal (PORTAL) has dropped by 89.9%, and the value of Wormhole has dropped by 86.5%. Starknet’s FDV has dropped from $19.5 billion to $3.7 billion, a drop of 81.0%. Coinbase Ventures and Paradigm both supported it. In April, there was a major network breakdown that lasted more than four hours. This made Starknet’s problems worse and made investors even less confident.
When it was first listed, Saga (SAGA) was worth $6.68 billion. Since then, its FDV has dropped to $1.02 billion, a drop of 84.7%. Even though most of the tokens mentioned are going down in value, Notcoin and Dogwifhat have been able to keep their drops to a minimum, with drops of 13.8% and 6.1%, respectively.
Jupiter (JUP) has stood out as a great performer compared to the overall downward trend. Jupiter has seen a 21.2% gain since it went public, and its FDV has gone from $6.6 billion to $8 billion. This good success is seen as unusual in the current market situation. It could be due to unique market conditions or strong project fundamentals.
The sharp drops seen across the board are a stark reminder of how volatile the cryptocurrency market is and how hard it is for even well-supported projects to succeed in this environment.
