Notes: Total 3 Market Cap (Excluding $BTC & $ETH )

The market (T3) cap has decreased to $660 billion — the level from which the Trump rally began on November 6, 2024.

Altcoin sentiment is currently very low, comparable to the negative feelings seen after the 2018 ICO bubble burst. The market cap excluding Bitcoin and Ethereum has fallen significantly, back to a level seen before a notable market increase in late 2024. This downturn seems driven by disappointment in unfulfilled expectations and the bursting of speculative bubbles.

The broader environment for cryptocurrencies appears more supportive now compared to the period between 2021 and 2024. Conversely, the outlook for the stock market has become less certain, leading more financial experts to recommend diversifying portfolios with alternative investments, and cryptocurrencies are increasingly being suggested as part of this strategy. The development of tools and derivatives is also making it easier to move capital from traditional stock markets into the crypto space. Furthermore, with the emergence of what some are calling "currency wars," cryptocurrencies are seeing increased use for cross-border transactions, and the volume of these payments is on the rise.