The increase in the number of altcoins means that many wonder if the “Altcoin season” era has ended.
The increase in the number of altcoins means that many wonder if the “Altcoin season” era has ended. In the past, the seasons of Altcoin have been marked by significant gatherings for cryptocurrencies other than bitcoin. For example, during the 2017-2018 cycle, parts like Ether (ETH), XRP and Litecoin experienced impressive growth. But now, with more than 36.4 million altcoins circulating on the market, against only a few thousand in previous Altcoin seasons, the market dynamics have changed.
The rise of low -quality tokens and parts even contributes to this change. Crypto Trader ASH Crypto criticized the exchanges to register coins to increase the volume and attract users, which leads to retail investors often losing money when these parts quickly lose value. He underlined the volatility of the pieces even, where a token could drop by 80% in a week.
Bitcoin continues to dominate the market, with its market capitalization more than to double since 2021 to 2.07 billions of dollars. Meanwhile, the total market capitalization of Altcoin is at 1.6 billion of dollars, 15.8% below its top of all time. Ki Young Ju, CEO of Cryptochant, believes that only a few altcoins with solid use cases will survive. As the market becomes more saturated, it is clear that only projects with real value will probably remain relevant in the long term.
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