# Most 2021 Altcoins Have Lost Over 90% of Their Value Data reveals that network growth does not always translate into token price appreciation. - **Source:** [Fortune](https://fortune.com) - **Published:** 2026-11-06 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/70128a52-c4e8-4275-80b2-a358d1b9d286 ## The 2021 Altcoin Crash Nearly two-thirds of the top 100 altcoins from November 2021 have lost over 90% of their value by October 2025. While Bitcoin gained 30% during this period, most altcoin projects failed to sustain their peak valuations. This data highlights a stark divergence between project development and actual investor returns. ## Supply Inflation Impacts Among the 81 tokens that dropped at least 70%, circulating supply increased by a median of 50%. Even without this supply expansion, 77 of these assets would have still faced significant losses. Research indicates that the primary driver of these declines is a lack of demand rather than just token unlocks. ## Market Dynamics Shift The altcoin market has not disappeared but has undergone a major rotation. Approximately 39 of today's top 100 altcoins were not even listed on CoinMarketCap in November 2021. This suggests that capital flows are moving toward newer projects rather than returning to the previous cycle's leaders, signaling a highly volatile environment. ## Value Capture Disconnect A strong development team and useful technology do not guarantee that a token will capture economic value. Fees generated by a blockchain often flow to validators or developers rather than token holders. Investors must distinguish between network utility and the specific mechanisms that allow a token to accrue long-term financial value. ## The Token Burn Strategy BNB demonstrates how supply management can protect value, as its price rose despite a 4% decline in market cap. By cutting supply by 21% through token burns, the project successfully supported its price. This contrasts with other networks where staking rewards create inflationary pressure, diluting the share of existing token holders. ## Solana and NEAR Examples Solana and NEAR illustrate the impact of supply on price performance. Solana's market value is only 10% below its 2021 peak, but its price fell 54% due to a near-doubling of supply. Similarly, NEAR saw its market cap rise 20%, yet its price dropped 51% as circulating supply more than doubled for investors. ## Applying Equity Frameworks Experts suggest applying traditional growth equity frameworks to crypto by focusing on scarcity, utility, and network effects. Investors should evaluate whether a token has a clear mechanism connecting network growth to demand. Simply looking at a 90% discount is insufficient if the original valuation was based on unsustainable market expectations. ## Future Investment Outlook Successful future investments will likely be those where growth creates durable demand while supply remains under control. Investors must scrutinize how value flows to the token and what growth expectations are already priced in. Distinguishing between a value trap and a genuine comeback requires deep analysis of tokenomics and protocol economics. ## Sources covering this story - https://fortune.com/2026/11/06/altcoins-lost-90-percent-coinmarketcap-data/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._