"They said an average 8% rise"...Top 82% of Altcoins 'Plunge'

▲ Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Cryptocurrency decline / AI-generated image

In June, the cryptocurrency market seemed to hold up if only looking at the average return, but in reality, most of the top assets had already entered a deep decline.

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

The discrepancy between the average return and the actual perceived market stemmed from a single soaring asset. Velvet (VELVET) surged by 1,715% throughout June, pulling up the overall average. In addition, LAB (LAB) rose by 116%, and Audiera (BEAT) rose by 112%. However, the 25 percentage point gap between the positive average and the -16.8% median revealed that the number of rising assets was extremely limited.

The CryptoRank report commented, "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 8 major narratives tracked, based on total tokens with 24-hour trading volume exceeding $1 million, recorded negative median returns. Layer 2 chains showed the largest decline at -24.9%, Decentralized Physical Infrastructure Networks (DePIN) at -24.8%, and Layer 1 chains at -22.8%.

CryptoRank stated, "All 8 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, and no broad recovery in market breadth was observed." 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 flow of funds away from vulnerable altcoins.

[Article Summary]

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

-Velvet surged by 1,715%, pushing the average return up to 8.9%, but the median return dropped to -16.8%.

-All 8 major narratives recorded negative median returns, confirming the defensive trend of the cryptocurrency market in Q2.

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