There were many parallels between 2017 and the first half 2021 of crypto market. (BTC) was on a tear to its all-time high, the new frontier of decentralized finance emerged, and nonfungible tokens were gaining myriad celebrity endorsements.

But after the initial months of euphoria and a subsequent sell-off, BTC’s performance has been far more lackluster. The recent market sell-off resulting from the Evergrande crisis has compounded fears. However, it can’t be ignored that many altcoins, particularly platform tokens, have undergone impressive runs and, in some cases, even bucked broader market trends.