Can we still see the altcoins with thousands of coins flying together in this round?
Let's take a look at the objective situation of the current market first
1. The number of altcoins has reached a new high. In May alone, 1 million new coins were born, which is twice the number of tokens on ETH from 2015 to 2023.
2. The proportion of altcoins/BTC has been on a downward trend this year and is currently close to the lowest point of the bear market.
3. The overall narrative is relatively backward, and the performance of specific narratives is significantly better than other narratives, lacking killer application innovation.
4. The altcoin market as a whole has entered the PVP stage-a general rise in Q4 of 23, more wins and less losses in Q1 of 24, and extremely dispersed liquidity in Q2 of 24, with more losses and less wins.
In summary, the market has no money, and the altcoins are too saturated to pull up. The overall liquidity is relatively poor, which may be more difficult than the bull market in 2020.
Curious about the currency circle but don't know where to start? Read my introduction to explore the potential of 100-fold coins and unlock the future mysteries of the currency circle.