A large remaining market value after a 97.13% average collapse does not prove that these networks are sustainable or ready for recovery. Based only on the supplied brief, the sensible answer is that AVAX, ICP, and the wider group need to be judged by current user-paid activity, liquidity, risk, and recovery math, not by old all-time highs. The brief gives market value and drawdown figures, but it does not provide the fee, usage, revenue, treasury, or operating-cost data needed to conclude whether users pay enough to keep the networks running.
| Primary source | CryptoSlate |
|---|---|
| Reported at | 2026-07-25T11:35:49.000Z |
| Topic | Analysis |
| Evidence limit | Reported facts are separated from interpretation; current prices and platform terms require independent verification. |
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The direct answer is that valuation alone is not enough. A crypto network can retain billions in market value after a deep drawdown while still facing open questions about real demand, user payments, liquidity, incentives, and long-term operating economics.
For AVAX and ICP, the useful question is not whether they once traded much higher. It is whether current users create enough measurable activity to justify attention now. The supplied brief does not provide enough operating data to answer that conclusively.
What The Event Shows
The supplied CryptoSlate event says ten once-prominent cryptocurrency networks now have a combined market value of $12.06 billion and are trading an average of 97.13% below their all-time highs.
It also says a Taurex report put recovery needs across the group from roughly 21.5x for Avalanche, described as the largest of the ten at $2.91 billion, to roughly 323x for Internet Computer. That range shows how different the recovery burden can be even inside the same fallen-altcoin basket.
How To Read The Recovery Math
A 21.5x or 323x recovery need should be read as distance from a past high, not as a forecast. The number can help a trader understand how much price appreciation would be required to revisit the old peak, but it does not explain whether that path is realistic.
The larger the required multiple, the more important it becomes to separate hope from evidence. Without fresh data on user activity, liquidity, token demand, costs, and incentives, a large drawdown can be either an opportunity, a warning sign, or both.
What To Check Before Trading
Before acting on AVAX, ICP, or any similar asset, check whether the network has observable user demand rather than only speculative interest. Useful checks include active usage, fee generation, liquidity, market depth, development activity, token supply pressure, and whether the network still has a clear reason for users to pay for it.
Also check execution conditions before placing any trade. Spreads, available order types, volatility, slippage, position size, and stop discipline matter more when an asset has already shown extreme downside. The brief supports caution because it documents a severe average collapse, not because it proves future direction.
Evidence Limits
This article uses only the supplied event and brief as factual source material. It does not verify the underlying CryptoSlate article, the Taurex report, live market prices, on-chain usage, exchange liquidity, or current token supply data.
Because those data points are not supplied, this guide does not claim whether AVAX, ICP, or the other eight networks are undervalued, overvalued, recovering, failing, or likely to outperform. The evidence supports a framework for due diligence, not a conclusion about future returns.
Risk Disclosure
Crypto assets can move sharply, and assets that are far below all-time highs can still fall further. A deep drawdown does not create a floor, and a high recovery multiple does not create a target.
This is general information, not financial advice or a recommendation to buy, sell, or hold AVAX, ICP, or any other asset. Anyone trading should use their own risk limits and should not rely on historic peak prices as the main reason for a position.
Where Bybit Fits
If you already use Bybit for research or execution, the practical role is to compare available markets, liquidity, spreads, order controls, and your own risk settings before deciding whether any trade is worth taking.
The supplied brief includes a Bybit partner link, BYBIT official destination, and code 11350287. Treat that as an access path only. It should not influence whether AVAX, ICP, or any other asset fits your plan, and it does not imply any trading outcome.
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Review BYBITAffiliate link · Availability varies by region · No guaranteed outcomeQuestions readers ask
Are these ten altcoins cheap because they are down 97.13% on average?
Not necessarily. The supplied brief shows a large average drawdown, but a drawdown alone does not prove value. It only shows how far prices are below prior highs.
What does the roughly 21.5x recovery need for Avalanche mean?
Based on the supplied event summary, it means Avalanche would need roughly a 21.5x move to recover to its prior high level as framed by the referenced report. It is not a prediction that such a move will happen.
Why is Internet Computer’s roughly 323x recovery need important?
It shows how severe the distance from the prior high can be for some assets in the group. A larger recovery multiple raises the bar for evidence, because price would need to move much further to revisit the old peak.
Does the brief prove that users pay enough to keep these networks running?
No. The brief raises that question, but it does not provide the fee, revenue, usage, cost, or treasury data needed to answer it.
Should traders buy AVAX or ICP after reading this event?
This event should be treated as a research prompt, not a trade signal. Traders should review current market conditions, user demand, liquidity, and personal risk limits before making any decision.