The Losers No One Expected

On CoinGecko, there is a crypto losers ranking that shows which assets have fallen the most over a given period. Just look at who ends up at the top of that list if you select a one-year timeframe.

On the left is a screenshot of the biggest losers among the top 100 cryptocurrencies by market capitalization. On the right - the same ranking, but expanded to the top 300.

The vast majority of these assets are tokens of projects with an excellent reputation in the crypto space. They have everything: strong teams, compelling ideas, the technology to implement them, and marketing to attract attention. These are all well-known names. They are widely seen as projects worth following.

And yet, over the past year, the prices of all these cryptocurrencies have dropped by 70-90%.

Why? Because a token's price depends on only two things: how many people want to buy it, and how many want to sell it. So let's be honest with ourselves - do we really need all these tokens?

I know some people will say "yes". These tokens matter to different people for different reasons. And among rabbit.io users, there are those who swap their stablecoins and other cryptocurrencies for assets from this list.

But there are far more people who do not need them. That is why supply outweighs demand. And that is why prices keep falling.

This may sound obvious. But it is still striking to see results like these in the losers ranking. Few would have expected such a massive collapse from exactly these cryptocurrencies.