A warning of the downturn in the altcoin market

How deep has the downturn in the altcoin market reached? Some people compare it to the market winter in 2019, but this is not the case. The trough in 2019 was a shaken belief in the entire blockchain industry, and people even began to doubt the value of blockchain itself. Today, despite the downturn in the market, the usefulness of blockchain technology has been widely recognized, which is the essential difference between the two.

Specific to the altcoin sector, its current situation is worrying. After excluding the top ten cryptocurrencies, the total market value of the remaining altcoins has shrunk significantly to US$149 billion, almost halved compared to the highest point of the year. If the impact of newly issued currencies is taken into account, this figure has dropped to US$84 billion, and the increase in this round of bull market has barely maintained at around 12%. What is even more regrettable is that in the past market boom, the circulating market value of the two projects DOT and ICP has easily exceeded the US$80 billion mark. This comparison undoubtedly provides an intuitive footnote to the current downturn in the altcoin market. $ETH $BNB $BTC #PlusToken相关钱包转移ETH #Ripple于诉讼中取得部分胜利 #TON #美国7月非农就业增长放缓 069222 51583