CandleFocus Hopes for recovery dashed after ‘altcoin reckoning’ market stage arrives
2024-11-04
Author: Content Editor
The altcoin market is facing a potential crash and may not recover due to a shift in trading focus towards new asset classes. Altcoins did not experience the expected bull run in 2024, and many have underperformed or failed to rally. Altcoin crashes are predicted to occur soon, leading to an "altcoin reckoning." Altcoins have been dipping for a while with no relief rally in sight, and there is no guarantee of a return. VC-backed projects are attracting seed rounds at a slower pace, and the market must absorb previous tokens with significant unlocks scheduled. Long-term projects like XRP and Cardano have yet to prove their utility and lag behind. Some altcoins may not recover, while others may experience a bounce and a new altcoin season in early 2025. The altcoin season index has declined, and BTC's dominance has expanded. Altcoins are increasingly becoming meme coins or movements, and there is more demand for memecoins than traditional altcoins. Altcoins can offer fast recovery and upside, but established assets have already gone through their most active growth stages. Some altcoins try to retain their utility through community participation, staking, and rewards.
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