The most vivid list of the “worst” is compiled by Pintu News – “10 Altcoins that Crashed During the Month of November 2025.” According to the publication, a number of tokens lost between 58% and more than 97% of their value in 30 days (as of November 23).
Top 10 declines in November 2025 according to Pintu
1. LooksRare (LOOKS) – NFT marketplace
– approximately −79% over the month
– decline in NFT trading volumes (down 41% since Q3 according to Cryptoslam), 30% decline in staking, and liquidity outflow.
2. Fwog (FWOG) – Solana meme token
– approximately −69% in 30 days
– profit-taking by large holders after a previous sharp rally, high volatility.
3. Perpetual Protocol (PERP) – DeFi derivatives
– approximately −67%
– a drop in DeFi derivatives trading volume by more than 28%, a decrease in open interest by approximately 35%, competition with dYdX and GMX.
4. Clearpool (CPOOL) – on-chain lending for institutions
– approximately −61%
– decline in demand for uncollateralized loans, increase in credit risks, and outflow of liquidity from pools by almost 45%.
5. Synthetix (SNX) – synthetic assets and perpetuals
– −60% over the month
– a reduction in trading activity on Synthetix Perps by almost 38%, a 27% drop in protocol revenue, and the exit of market makers.
6. Story Protocol (IP) – intellectual property tokenization
– approximately −58.5%
– cooling hype around Web3-IP, a drop in content token issuance activity by approximately 50%.
7. Metaplex (MPLX) – NFT infrastructure on Solana
– approximately −58%
– a drop in NFT volumes on Solana by approximately 32%, controversial tokenomics, and discussions about fees increased pressure on the token.
8. Jito (JTO) – liquid staking on Solana
– approximately −58%
– decline in staking yields (from ~8.1% to ~6.4% per annum), increased competition from other LST protocols.
9. Drift (DRIFT) – derivative DEX on Solana
– approximately −57%
– reduction in derivatives volumes on Solana by approximately 35%, liquidation of leveraged positions.
10. Pixelverse (PIXFI) – Web3 game
– approximately −97% over the month
– a collapse in in-game transactions by more than 90% and the failure to update the roadmap effectively destroyed the project’s capitalization.
Pintu’s overall conclusion: the vast majority of altcoins lost more than 50% in 30 days in November, and the risks in the low-liquidity and micro-cap project segment have increased sharply.
