Everyone is talking about Altseason—many believe a massive pump could be coming.
But we need to understand the reality:
As the market has grown, it has become increasingly difficult to achieve the same level of price expansion with the same amount of money.
🔹 2017 Cycle
During the 2017 bull run, the total crypto market valuation eventually rose to approximately $760B.
At that time, the crypto ecosystem was much smaller than it is today, and there were far fewer altcoins.
When a relatively small amount of liquidity entered a comparatively limited number of altcoins, price expansion could be much more aggressive.
🔹 2021 Cycle
At the beginning of 2021, the total crypto market crossed $1T for the first time.
After that, liquidity rotated across different sectors through DeFi, Layer-1s, NFTs, and various emerging narratives.
🔹 And now?
Today, the total crypto market cap is approximately $2.84T.
However, it is not just the market cap that has grown—the number of tokens in the crypto market has also increased dramatically. CoinMarketCap now tracks 62M+ crypto assets, although many of them are very small or have limited liquidity.
This is the most important difference.
Previously, the same amount of capital rotated among a few hundred or a few thousand strong altcoins. Now, that liquidity is spread across a much larger and more fragmented token universe.
So I believe:
Altseason ≠ Every Altcoin 50x
Instead, the reality may look like this—
• Some strong projects → 2–5x
• Some high-conviction projects → 5–10x
• A very small number of exceptional tokens → 20x–50x+
• Many tokens → Will underperform even in a bullish market
You cannot look at token price alone.
An interesting pattern can be observed:
Sectors and projects that repeatedly attracted liquidity during previous bullish rotations may attract liquidity again when the market turns bullish. I have seen the same tokens repeatedly attract liquidity and pump during bullish market conditions.
This is not a guarantee.
But compared to chasing a “100x incoming” narrative around random meme coins, researching projects with real products, strong fundamentals, adoption, liquidity, and sustainable tokenomics is far more logical.
Do not assume the returns of the current cycle will match those of previous cycles.
The market has grown.
The token universe has expanded dramatically.
Liquidity has become even more fragmented.
So this time, the real game may be:
Don’t just find coins.
Find where the liquidity is going.
DYOR.
Risk Management > FOMO.
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