Everyone knows that there are many new coins in the market now, and they all show high openings as soon as their market value rises. However, the sheer number of them leads to the lack of much hot money in the altcoin space. Instead, these large batches of new coins are siphoning off the hot money from altcoins, resulting in the current situation of altcoins. Therefore, we have to rely on Ethereum and Bitcoin to drive some sentiment. Currently, Ethereum itself is facing a problem, and Bitcoin is also fluctuating based on sentiment. When sentiment is good, it pulls up; when sentiment is bad, it crashes. Altcoins simply cannot keep up, and they only face more declines.
So even if a big market trend comes in the future, not all altcoins will rise. Choosing coins is very important. The cryptocurrency market is highly competitive, and the long-tail effect is very weak.
If a certain altcoin does not have new hotspots to attract funds, then the sustained value of this coin and its long-term consensus is generally quite weak, insufficient to support long-term inflows of capital, leading to a rapid shrinkage of its market value.
A track that was popular a year ago may only have a leading coin remaining strong a year later, while others have been overshadowed. Furthermore, Binance is frequently launching airdrops and TGE wallet activities, which seem to be providing benefits to retail investors. However, have you considered that some airdrops and TGE activities are merely a one-hour login to Binance's spot trading pairs? This is not much different from the last new coin; it’s just a different approach. While everyone thinks they are receiving benefits, many new coins have quietly gone live.
Some may say, "Aren't you complaining about something free?" In the long run, the hundred dollars you gained will eventually be lost in other altcoins. I hope the entire industry improves rather than seeing a small profit ruin the whole pot.
