Core Insights - Large-cap altcoins like Ethereum (ETH), Solana (SOL), and XRP are losing appeal among crypto investors, with prices falling below the levels seen at the start of the year [1] - On-chain data indicates that a significant number of investors are facing losses, raising questions about the potential for recovery [1][2] Market Conditions - The Percent Supply in Profit for ETH, XRP, and SOL has been declining since October, indicating fewer coins are in profit and more are held at a loss [2] - Current percentages of supply in loss for major assets are: BTC at 34.91%, XRP at 36.70%, ETH at 38.37%, and SOL at 74.84% [3] Realized Loss Metrics - Realized Loss, which reflects the total USD value of coins moved when their previous price was higher than the current market price, shows a significant increase for ETH, SOL, and XRP [4] - As of November 25, these altcoins recorded the highest 7-day average realized loss since the market drop in April, indicating rising stress among new investors [5] Investor Behavior - The pressure from losses may lead new market entrants to exit, potentially exacerbating downward price momentum [6] - Investors are shifting their focus to altcoins with more appealing narratives, such as Privacy Coins and Neobank Coins [7] Recovery Outlook - Santiment presents a more optimistic view, suggesting that despite notable losses, assets like ADA, LINK, ETH, and XRP may be undervalued, indicating potential for recovery towards average valuation levels [8]