#Altcoins are not doing well. As a group, they are not likely to do well in the future either. This is why.
The crypto market is now effectively three different markets that have little in common.
2️⃣ Altcoins
3️⃣ Stablecoins
Bitcoin has increased its market cap by 76% in a year.
Altcoins, including stablecoins, have increased their market cap by 11% in a year.
Stablecoins have increased their market cap by 62% in a year.
Altcoins, excluding stablecoins, are, as a group are left behind.
Expect this to continue.
Honestly, the blockchain community is basing its success on Bitcoin and stablecoins.
But, they are not a part of it.
Altcoins lack clear use cases.
There are no clear user propositions that make the world easier for the average user.
We do not need another L1.
We do not need another exchange or lending platform.
Not that these projects do not matter, but they will not onboard more users.
We need innovation, not marginally better products.
