On May xix, the total cryptocurrency market capitalization nosedived by 19% and has since failed to recover to the $1.8 trillion mark. More than than forty days have passed, and investors have begun to question what could happen to altcoins if the current deport market takes longer than expected to recover.

Earlier digging into that, analysts starting time need to understand whether specific sectors held out ameliorate than most, and more importantly, they should distinguish which cryptocurrencies take managed to stay afloat over the past 30 days.

Cryptocurrency total marketplace capitalization (in billions). Source: TradingView

Although the total crypto marketplace cap is down v% in 30 days, nigh 44 of the pinnacle 100 coins are down 19% or more during this period. This data is a strong indicator that investors have been cutting losses on some altcoins.

Worst performers amidst the top 100 in the last 30 days. Source: CoinMarketCap

The list of worst performers displays an impressive number of tokens from smart contract platforms. In fact, five out of the top half dozen fall under that category. One key aspect could be the abrupt drop in Ethereum network gas fees, which is causing less need for alternative solutions.

Some other pattern that has emerged is the synthetic assets category, represented past Synthetix Network Token (SNX), UMA and Perpetual Protocol's PERP token. Investors could be sensing potential problems, as the World Economic Forum recently published a policy toolkit for decentralized finance regulation. Furthermore, Dan Berkovitz, commissioner of the U.S. Article Futures Trading Commission, stated that DeFi is likely illegal.

On the other hand, the list of outliers over the past month is significatively shorter. But 12 of the top 100 managed to present positive performances.

Top performers amidst the top 100 in the last 30 days. Source: CoinMarketCap

This fourth dimension effectually, it is difficult to discover a mutual tendency amidst the elevation performers. Both Flexa'south AMP token and Quant's QNT were recently listed on Coinbase Pro. Meanwhile, Theta is expected to launch its Mainnet 3.0 on June xxx. Lastly, Solana Labs, which is behind the pop SOL token, raised $314 million through a individual token auction.

Therefore, some conclusions can be drawn from the analysis. The fact that merely 12 tokens could present gains over the by thirty days shows that diversification into altcoins may non have paid off. Meanwhile, bets on "Ethereum killers" offered higher losses, as the bear market place itself managed to curb excessive gas fees.

Lastly, the regulatory uncertainty around DeFi is realistically not going to be solved over the next thirty days. There is reason to believe that July'south Ethereum network upgrade and the reverberatons of El Salvador's determination to make Bitcoin (BTC) an official currency will likely concentrate investors' attending and coin on BTC and Ether (ETH).

The views and opinions expressed here are solely those of the author and do non necessarily reflect the views of Cointelegraph. Every investment and trading motility involves risk. You should conduct your own research when making a decision.