One thought I have had is a lot of these coins outside the top 100 have competition that's going to be hard to compete against vs the bigger names. Any exchange will struggle to take market share from Binance etc, smart contract platforms will struggle vs Eth..
A booming industry that has yet to really make it's foot print in Crypto is AI, a lot of the top coins out there in this space are ranked way outside the top 100. Look at SingularityNET for example, you have a CEO in Ben Groetzel who has shared the stage with Vitalik, been on Joe Rogan's podcast (1.4 million views) and has built a great technical team across the world with a mix of experienced employees and grads from top universities. So why is their token AGI ranked at 353 on CMC, I think the timing of their launch with the bear market has a lot to do with it but I think if AI was to boom in the crypto space they would be at the front of the line.