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Hania Humayun

Pantera: Non‑Bitcoin tokens lose 79% since late 2024 as fund outlines cautious 2026 outlook

According to Pantera Capital, most cryptocurrencies apart from bitcoin have been in a deep bear market since December 2024, with the broader non‑BTC segment down 44% and a typical token losing about 79% of its value by the end of 2025. The firm notes that while bitcoin slipped only around 6% in 2025, many other tokens dropped close to 60% amid capitulation‑style selling and an October liquidation wave exceeding $20 billion. Pantera's 2026 outlook highlights structural issues in token value capture and suggests investment may shift toward bitcoin, stablecoin infrastructure, and equity‑linked crypto exposure rather than speculative token trading.