Part 3/11:
Understanding the potential for recovery from current lows requires context on all-time highs (ATH). Many projects are still significantly below their ATHs; for example, Phantom remains about 60% away, pointing to a long road ahead for full recovery. Coined the zombie coefficient, this metric indicates projects that are unlikely to reclaim previous ATHs if they are currently 60-80% below—highlighting caution in investment choices.