The top seven altcoins are likely to gain, down 40% or more from all-time highs

• Seven altcoins that have proposed developments to reduce supply or control emissions have fallen more than 40% from all-time highs.
• The prices of Jupiter, Fantom, Avalanche, Echelon Prime, Arweave, Near Protocol and Jito have fallen between 40% and 60%.
• The market capitalization of cryptocurrencies, excluding Bitcoin, has fallen by 3% in the last seven days.

According to TradingView, the cryptocurrency market capitalization, excluding Bitcoin, has fallen 3% over the past seven days and nearly 10% over the past 30 days. The shrinking market cap indicates that capital is flowing out of altcoins, altcoins have likely erased their value over time in the current cycle. There is catch-up potential for altcoins that have improved fundamentals, reduced supply, or improved issuance schedules.

Despite bullish developments that typically push asset prices higher, these altcoins they are down 40% or more from all-time highs.

These seven altcoins have improved their fundamentals

Jupiter (JUP) recently announced a proposal to reduce its offering by 30%, typically a bullish signal for the asset’s value. The proposal is in line with community needs and could help improve the asset’s fundamentals, increasing its relevance and value among market participants.

JUP is down nearly 60% from its all-time high. At the time of writing, JUP is trading at $0.7774, per CoinGecko.

Fantom (FTM) has informed the community of holders of an allocation of 200 million tokens, worth approximately $120 million, to migrate partners to its new Sonic network. Funds will be allocated to native application grants, strategic decentralized application (dApp) grants, infrastructure tools, and developers within the ecosystem. FTM is down 83% from its all-time high and is trading at $0.578 as of this writing.

Avalanche (AVAX) was chosen by Konami for its gaming subnet. The Japanese game developer and publisher announced the development of its own NFT solution through the new partnership. AVAX is trading at $24.45 at the time of writing, down 83% from its all-time high.

Echelon Prime (PRIME) corrected more than 60% from its all-time high despite the PROMPT staking announcement and changes to the token issuance schedule. The token is trading at $10.62 on Sunday.

Arweave (AR) is down more than 43% from its all-time high despite the launch of the AO token and 33.3% of the token’s allocation to AR holders.

NEAR is hit by a 40% correction from its all-time high. The protocol announced the launch of Near.ai, its new artificial intelligence incubator.

Jito (JTO) has erased nearly 60% of its value from its all-time high as its holders await the launch of Stakenet and JIP-3, considered bullish developments for the ecosystem.

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