The cryptocurrency market in 2025 has witnessed a dramatic decline in token valuations, with several altcoins experiencing drops of 90-99.9% from their peak values. Notably, tokens such as RESOLV, COAI, AIA, and SHM have each fallen over 99% from their peak fully diluted valuations, according to CryptoRank data. New token listings are struggling, trading significantly below their initial highs, with $RESOLV and $SHM both down 99.9%, and $COAI down 99%. The sentiment around new tokens has turned negative, as indicated by the fear and greed index, with most projects failing to meet initial expectations.