Only 4.1% of Crypto Tokens Have Outperformed Bitcoin Since 2020, Study Finds

BitcoinWorld Only 4.1% of Crypto Tokens Have Outperformed Bitcoin Since 2020, Study Finds Only 4.1% of cryptocurrencies that reached a $50 million market capitalization between 2020 and 2025 have managed to outperform Bitcoin, according to a new report from Blockworks Research.

The study, which tracked 1,972 digital assets that crossed that threshold during the period, found that the median return for these tokens later plunged to -97%, highlighting the extreme difficulty of picking winners in the crypto market.

Market Structure: A Pyramid with a Narrow Top The Blockworks report describes the cryptocurrency market as a pyramid with a broad base and a narrow top.

While the number of cryptocurrencies with a market cap above $1 million hit a record 3,648 in December 2024, the number of assets valued above $250 million fell to just 102 as of June, down from 279 in November 2021.