"Said an average 8% increase"...Top 82% of altcoins 'crashed'

▲ Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Cryptocurrency Decline/AI Generated Image

Although the cryptocurrency market in June seemed to hold its ground based on average returns, most of the top assets were already in a deep decline.

According to the crypto media outlet BeInCrypto on July 3 (local time), CryptoRank's Q2 report showed that approximately 82.1% of the top 100 cryptocurrencies declined in June. This represents the worst market breadth since 2026. During the same period, the average return of the top 100 assets recorded a positive 8.9%, but the median return dropped to -16.8%.

The discrepancy between the average return and the actual perceived market was due to a single surging asset. Velvet (VELVET) surged by 1,715% in June, pushing up the overall average. Additionally, LAB (LAB) rose by 116%, and Audiera (BEAT) by 112%. However, the 25 percentage point gap between the positive average and the -16.8% median indicated that the number of rising assets was extremely limited.

The CryptoRank report stated, “Market breadth data shows a clear deterioration in participation across the top 100 non-stablecoin assets. June's market breadth fell to its weakest level this year.” In April, 64% of the top 100 assets rose, showing the best trend in 2026, but the structure weakened in May, and a reversal trend was confirmed in June.

The bearish trend was not limited to large-cap assets. All eight major narratives tracked, based on tokens with a 24-hour trading volume exceeding $1 million, recorded negative median returns. Layer 2 chains saw the largest decline at -24.9%, followed by Decentralized Physical Infrastructure Networks (DePIN) at -24.8%, and Layer 1 chains at -22.8%.

CryptoRank stated, “All eight tracked narratives recorded negative median returns, and in almost all categories, declining assets outnumbered rising assets. This confirms that the market maintained a defensive and narrow trend throughout Q2, with no broad recovery in market breadth.” Decentralized Finance (DeFi) recorded 42 rising and 117 declining assets, while Artificial Intelligence (AI) recorded 21 rising and 35 declining assets. Bitcoin (BTC) dominance remained around 56% at the end of the quarter, indicating a shift of funds away from vulnerable altcoins.

[Key Article Summary]

-Approximately 82.1% of the top 100 cryptocurrencies declined in June, marking the worst market breadth since 2026.

-Velvet surged by 1,715%, raising the average return to 8.9%, but the median return fell to -16.8%.

-All eight major narratives recorded negative median returns, confirming a defensive trend in the Q2 cryptocurrency market.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*