The direct answer is that a remaining $12.06 billion combined market value does not prove these altcoins have enough paying user demand to keep growing or recovering. The brief says the group trades an average of 97.13% below all-time highs, with recovery needs ranging from roughly 21.5x for Avalanche to roughly 323x for Internet Computer. Those numbers show how far prices are from prior peaks, but they do not show current fee demand, user retention, developer activity, treasury durability, or long-term network economics. Readers should treat the story as a prompt for deeper checks, not as a buy or sell signal.
| Primary source | CryptoSlate |
|---|---|
| Reported at | 2026-07-25T11:35:49.000Z |
| Topic | Analysis |
| Evidence limit | Reported facts are separated from interpretation; current prices and platform terms require independent verification. |
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Review BYBITWhat Happened
The supplied event says ten once-prominent cryptocurrency networks now have a combined market value of $12.06 billion while trading an average of 97.13% below their all-time highs.
The event is categorized as analysis and names AVAX and ICP as affected assets. It attributes the recovery-multiple framing to a recent Taurex report cited in the CryptoSlate description.
The Direct Market Read
The main point is that market capitalization can remain large even after a deep collapse. A network can be far below its all-time high and still command billions in market value if tokens continue trading and investors still assign future value to the ecosystem.
That does not answer the harder question in the headline: whether users pay enough to support these networks. The brief does not provide fee revenue, active-user data, validator economics, application usage, or treasury figures, so the sustainability question remains open.
Why AVAX And ICP Matter Here
Avalanche is used in the brief as the largest example among the ten, with a cited market value of $2.91 billion and a recovery need of roughly 21.5x. That frames AVAX as the lower end of the recovery-multiple range in the supplied material.
Internet Computer is used as the high-end recovery example, with the brief citing a roughly 323x recovery need. That does not by itself say ICP cannot recover, but it does show that the distance from the prior peak is much larger in the supplied comparison.
What The Numbers Do Not Prove
The drawdown figure does not prove that a token is undervalued. It only shows the distance from a previous peak. Prior all-time highs may have reflected market conditions, liquidity, speculation, or cycle behavior that may not return.
The combined $12.06 billion value also does not prove healthy network economics. To evaluate that, readers would need current usage, paid demand, fee flows, developer activity, liquidity depth, unlock schedules, and other data not included in the supplied brief.
Practical Checks For Readers
Before treating a collapsed altcoin as an opportunity, readers can ask a few basic questions: are users paying to use the network, are applications active, is liquidity real enough for normal exits, and does the project have a clear reason to regain attention?
Those checks should be asset-specific. AVAX and ICP appear in the same event, but the brief does not show that they have the same usage profile, recovery path, or risk level. A shared drawdown theme should not be treated as a shared investment case.
Risk And Bybit Context
This is not financial advice. Deep drawdowns can continue, recovery multiples can remain theoretical, and market capitalization can fall if liquidity, demand, or confidence weakens.
If readers already compare crypto markets on Bybit, they can use the supplied partner context as an access path: BYBIT official destination with code 11350287. That is not a claim about rewards, registration results, ranking, or trading outcomes.
Evidence Limits
This article uses only the supplied event and brief as factual source material. It does not independently verify current prices, fee revenue, market rankings, protocol activity, or exchange listings.
Because the evidence is limited, the safest conclusion is narrow: the event highlights a large gap between remaining market value and prior all-time highs, while leaving the user-payment and network-sustainability question unresolved.
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Review BYBITAffiliate link · Availability varies by region · No guaranteed outcomeQuestions readers ask
What is the main news in this brief?
The brief says ten once-prominent cryptocurrency networks still have a combined market value of $12.06 billion while trading an average of 97.13% below their all-time highs.
Does a 97.13% collapse mean these altcoins are cheap?
No. A drawdown shows how far prices are from prior peaks, not whether an asset is fairly valued, undervalued, or likely to recover.
Why are AVAX and ICP mentioned?
The brief names AVAX and ICP as affected assets. It also cites Avalanche as the largest of the ten at $2.91 billion and Internet Computer as the high-end recovery-multiple example at roughly 323x.
Can users pay enough to keep these networks running?
The supplied brief raises that question but does not answer it. To answer it, readers would need current data on usage, fees, retention, developer activity, liquidity, and network economics.
Is this article recommending AVAX, ICP, or any other altcoin?
No. This is an evidence-limited analysis of the supplied event, not a recommendation to buy, sell, or hold any crypto asset.
How should readers use the Bybit context?
Readers who already want to compare crypto markets on Bybit can use the supplied link and code as access context. It should not be treated as a promise of results, rewards, or trading performance.