Bitcoin Benchmark: Only eight digital asset tokens hit ATH in post-FTX BTC collapse

Quick take

Since the collapse of FTX in November 2022, only eight digital asset tokens have surpassed previous all-time highs (ATH) against Bitcoin (BTC). This data, shared by the anonymous profile Human Capitalhighlights a significant trend in the digital asset market.

Human Capital data shows that the first of these tokens to reach this milestone after the collapse of FTX was BNB, the fourth largest digital asset. market capitalization, reaching an ATH of 0.0197 on November 7, 2022. A week later, Trust Wallet Token (TWT) also surpassed its ATH. These were the only tokens to achieve this in 2022. In 2023, AGIX and SSV were the next to breach their ATH in terms of BTC in February, followed by ASTR, INJ and TRB in December. Render Token (RNDR) is the only token to have surpassed its all-time high in 2024, achieving this feat in March, coinciding with Bitcoin reaches its all-time high.

This trend suggests that BTC should be the benchmark for evaluating the performance of other digital assets rather than fiat currencies, which are subject to a minimum inflation of 2%. A notable achievement for these tokens would be to once again surpass their ATH in terms of BTC, indicating a continued upward trend.

THE Ethereum/Bitcoin ratio, a closely watched parameter, had its ATH at 0.08825 in December 2021 and is currently trading at 0.05515. With the approval of an ETF on Ethereummany speculate that Ethereum could be the next token to reclaim its all-time high against Bitcoin.

ATH crypto tokens from the fall of FTX

Source: HumaCapital

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