On average, altcoins depreciate against Bitcoin in just 10-20 months.
According to a recent study by the analytical platform Swan, Bitcoin
BTCUSD is the most stable asset in the volatile cryptocurrency market.Do you want to always be aware of the main crypto events? Subscribe to our weekly newsletter and receive the most important news straight to your inbox!
How altcoins lose to Bitcoin
Swan specialists analyzed the dynamics of 300 leading altcoins over the past five years. Analysts attempted to answer the question of how long it takes for these assets to lose 90% of their value against Bitcoin. It turned out that, on average, alternative tokens depreciate in 10-20 months.
"Altcoins do not just lag behind Bitcoin. They are collapsing against its backdrop," experts note.
During the analyzed period, Terra (LUNA1), Ontology Gas (ONG), and Bitgert (BRISE) fell the fastest — by 90% in just two months. Even major altcoins like Cardano
ADAUSDT and XRP have depreciated by 90% over 36 months. LitecoinLTCUSD fell more slowly — over 69 months. Monero (XMR) took six years to do this.
Only 45 assets did not fall by 90%. On average, they decreased by only 76% from their peak value. Even the most successful among them fell by 43% compared to BTC. The results of the Swan study point to a systemic problem with these assets. Even those coins that are often promoted as an alternative to the flagship of the crypto market cannot maintain value in the long term.
"Bitcoin remains the benchmark for capital preservation. Altcoins do not protect investors from losses — they just systematically depreciate against BTC," noted Swan specialists.
Cases where alternative coins outperform Bitcoin for an extended period are extremely rare. According to analysts, due to the 'survivorship bias' effect — when users only pay attention to successful projects — no one notices the overall decline in the altcoin market.
"It is surprising that altcoins still exist with such results. However, people love the thrill," said Swan CEO John Haar.
Will the altcoin season come
The number of altcoins in the market is increasing. This segment is becoming 'oversaturated.' According to CoinMarketCap, more than 1.8 million new tokens have appeared in just the last month. And most of them do not meet investors' expectations. Thus, 89% of the cryptocurrencies listed by Binance since the beginning of 2025 bring negative returns to their holders. This means that their value depends only on short-term hype, rather than fundamental indicators.
Due to the enormous number of new tokens, the market is losing liquidity. This has postponed the long-awaited altcoin season, which usually occurs after Bitcoin updates its historical maximum. Some analysts believe that the traditional altcoin season may never return.
The digital asset market is undergoing significant changes. The share of BTC is only growing. This is largely due to its increasing popularity among institutional players. Moreover, regulators are also showing interest in the asset. Bitcoin is firmly establishing itself as the main cryptocurrency, while altcoins struggle to retain users and are devalued.
