Bloomberg: Smallest cryptocurrencies plunge to pandemic levels

The MarketVector Digital Assets 100 Small-Cap Index, which tracks the 50 smallest cryptocurrencies in a basket of 100, fell to its lowest level since 2020 on Sunday, November 16. This was reported by Bloomberg.

The drop came as bitcoin, the largest cryptocurrency, lost all of its 30% YTD growth, just weeks after hitting an all-time high. The so-called altcoins, which serve as an indicator of the most speculative market sentiment, are expected to lag behind the main cryptocurrencies in 2025.

Over the past five years, the index of small crypto assets has fallen by almost 8%, while its counterpart with large tokens has grown by about 380%.

"Retail traders are learning lessons from previous cycles.The hike doesn't lift all boats – it only lifts the quality ones," explained Prateek Kala, portfolio manager at Australian hedge fund Apollo Crypto.

The broader crypto market has not yet recovered from the October 10 crash, when about $19 billion worth of positions were liquidated and the total market value of tokens fell by more than $1 trillion.

• on October 11, the cryptocurrency market recorded the largest liquidations of traders' positions in history due to the statement of US President Donald Trump on the introduction of an additional 100% duty on Chinese goods and restrictions on software exports.