29 out of 30 tokens in red for 2024

The vast majority of the tokens that Binance listed in 2024 experienced significant declines, with 29 out of 30 tokens experiencing significant losses.

According to data shared by Coin 98 Analytics on X on August 6, the losses are quite staggering.

YTD performance of tokens listed on Binance

A total of 30 tokens have been listed on Binance since the beginning of 2024

Currently, most are showing varying degrees of decline in performance pic.twitter.com/CdtWngUaYN

— Coin98 Analytics (@Coin98Analytics) August 6, 2024

Among the hardest hit is Aevo (AEVO), whose fully diluted valuation has fallen by 90.1%, from $3.22 billion at the time of listing to just $342 million. AEVO’s sharp decline is notable due to the support of prominent investors such as Binance Labs and Pantera Capital.

Despite this support, the token failed to withstand market pressures, leading to a massive 90.1% drop in its value. The widespread losses are a stark reminder of the volatile nature of the cryptocurrency market.

At the time of writing, AEVO was changing hands at $0.3414, up 7.5% over the last 24 hours. However, over 7 days the price reflected a drop of around 37%, while over 2 months it has been even worse, losing over 59% of its value during that time.

4-hour AEVO price chart, June 1 – August 7, 2024 | Source: crypto.news

Other tokens that saw significant declines include Portal (PORTAL), down 89.9%, and Wormhole (W), down 86.5%.

Similarly, Starknet (STRK), backed by Paradigm and Coinbase Ventures, saw its value drop by 81.0%. The token’s FDV fell from $19.5 billion to $3.7 billion, reflecting the challenging environment even for well-backed projects.

In April, the Starknet network experienced its first major outage, with blocks unable to be recorded for over four hours.

On the other hand, the value of Saga (SAGA), which had a FDV of $6.68 billion at the time of the IPO, has fallen by 84.7% to $1.02 billion currently.

While the overall trend of the listed coins is bearish, a few of them managed to limit their losses. For example, Notcoin (NOT) is down 13.8%, while dogwifhat (WIF) is down a relatively modest 6.1%.

Amidst the sea of ​​red, Jupiter (JUP) stands out as the sole outperformer during this period, registering a 21.2% gain since its listing. Originally valued at $6.6 billion, JUP’s FDV is now at $8 billion.

This positive performance is an anomaly in the current market landscape and may be indicative of unique market factors or strong project fundamentals.