Only Eight Digital Asset Tokens Surpass Previous All-Time Highs Against Bitcoin Since FTX Collapse

Since the collapse of FTX in November 2022, only eight digital asset tokens have reached new all-time highs (ATH) against Bitcoin (BTC). This significant trend in the digital asset market was highlighted by the anonymous X profile, Huma Capital.

According to Huma Capital's data, the first token to achieve this milestone post-FTX collapse was Binance Coin (BNB), the fourth-largest digital asset by market cap. BNB reached an ATH of 0.0197 BTC on November 7, 2022. A week later, Trust Wallet Token (TWT) also broke its ATH. These were the only tokens to accomplish this in 2022.

In 2023, AGIX and SSV were the next tokens to breach their ATHs in BTC terms in February. They were followed by ASTR, INJ, and TRB in December. Render Token (RNDR) is the sole token to have broken its ATH in 2024, achieving this feat in March, coinciding with Bitcoin hitting its own ATH.

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 of 2% inflation. A noteworthy achievement for these tokens would be to surpass their ATHs in BTC terms once more, indicating a consistent upward trend.

The Ethereum to Bitcoin ratio, a closely watched metric, had its ATH at 0.08825 in December 2021 and is currently trading at 0.05515. With the approval of an Ethereum ETF, many speculate that Ethereum could be the next token to reclaim its ATH against Bitcoin.