Seeing the BTC market thriving, in contrast, the altcoins are still speculating on delisting sectors, and it seems that the speculative funds can't find any hot spots, so they can only follow the announcements from exchanges. Recently, there have been many delisting announcements, so they are focusing on the delisting sector.
In today's cryptocurrency world, there are only two types of coins: one is called BTC, and the other is called altcoins. BTC has the support of big players and Saylor, and the whales accumulate during each dip. They have unlimited firepower from traditional markets, which may come from convertible bonds, stocks, their own funds, sovereign funds, etc. In summary, it simply won't drop at all.
Other coins, like ETH, have too weak decentralized commodity attributes. If viewed as a company, it is still in a state of continuous inflation without covering costs, and it can't be compared to US tech stocks at all. Looking at ETFs shows the attitude of institutions and old money towards ETH; indeed, it’s hard to find a good reason to buy in. A market cap of over 200 billion is not small, and everyone is POS, with SOL, BSC, and other public chains all eyeing it. To be honest, in my view, buying ETH is worse than buying DOGE. At least DOGE is POW; if we talk about centralization, Musk is a bigger name than Vitalik.
This round in the cryptocurrency market really feels off track; participants are infatuated with centralized projects, hype coins, KOL's calls, and following trades, which is so different from the initial pursuit of decentralization. If I were to engage in a centralized project, there are plenty in the stock market, and they are all profitable. Why come to the cryptocurrency market? The answer may be that the cryptocurrency market has no regulations and can easily exploit retail investors. If that’s the case, I would rather play with strong whales and meme coins, don’t give me value propositions.
After all this, to summarize, the current situation in the cryptocurrency market is to only play with BTC and strong whale coins. Strong whale coins can be memes, can be unique coins from various exchanges, or can be something like BNX. As for UNI, LINK, ONDO, ETH, these coins waving the flag of value, it’s best to avoid them, because in my view, they don’t have that much value. Projects that haven’t been profitable after 5 or 6 years, what value do they have? After such a long time, the Anti-Japanese War would have been over.