A CryptoRank study found that only 8 of 113 tracked crypto tokens launched since 2024 were trading above their token generation event (TGE) price, while the group’s median return stood at -95.7%.

CryptoRank told CryptoPotato that the sample was limited to projects with a market capitalization above $100 million as of July 21. In total, 105 of the 113 projects reviewed were trading below their TGE price. Because the study only included tokens still above that market-cap threshold, the results do not cover smaller launches or projects that may have fallen below $100 million.

Eight Tokens Remain Above Launch Price

The tokens still in profit were led by Hyperliquid’s HYPE, Ondo Finance’s ONDO, EverValue Coin (EVA), and Midnight Network (NIGHT).

HYPE was up 1,519% from its launch price at the time the survey was published on July 21. ONDO followed with a 101.4% gain, while EVA and NIGHT were up 20.3% and 16.5%, respectively.

The results show that even among the tokens trading above launch price, only a small number recorded outsized gains. Six of the eight profitable tokens posted double-digit increases at most. For newer crypto projects, TGE price comparisons are closely watched because they show whether early market trading has preserved or erased value relative to the launch benchmark, though they do not account for every factor in a project’s tokenomics or vesting schedule.

HYPE was also included in the new S&P Pantera Digital Asset Index, which excluded several high-performing crypto assets, including Bitcoin.

CryptoRank Cites Sell-Offs, Liquidity, and Regulation

CryptoRank said sell-offs, thin liquidity, and regulatory uncertainty were the main factors behind the large drawdowns across many of the projects studied. The market has also seen major token crashes tied to exploits and other causes over the past two years.

CryptoRank posted on X:

Only 7.1% of Tokens Launched Since 2024 Are Still in Profit

Out of 113 projects with a market capitalization above $100M, only 8 are trading above their TGE price, while 105 are already in the red.

This highlights how difficult it has been for newly launched tokens to sustain… pic.twitter.com/PbjCiBD5Jd

— CryptoRank.io (@CryptoRank_io) July 21, 2026

https://x.com/CryptoRank_io/status/2079545233096712515?ref_src=twsrc%5Etfw

The tokens reviewed covered a broad range of crypto sectors, including DeFi, gaming, and infrastructure projects.

The findings were published as the wider crypto market recovered, with bitcoin rising above $66,000 during the week amid higher ETF inflows and weaker U.S. inflation data. That contrast underscores that newly launched tokens can trade very differently from larger crypto assets during broader market rebounds, particularly when liquidity conditions, unlock schedules, and project-specific risks vary across sectors.