Looking at institutional holdings, it is clear that many institutions have abandoned altcoins and embraced meme coins. During the last bull market, many altcoins and BTC started around the same time, and the difference wasn’t significant. The exchange rate between Ethereum and Bitcoin has also been rising, as the trend of the previous cycle often reflects a consistent exchange rate. However, in this bull market, not only have altcoins not seen much increase, but contrary to Bitcoin reaching new highs, the exchange rate between Ethereum and Bitcoin is also declining. So where has the money gone? Has it all gone to Bitcoin?

On the contrary, in stark contrast to the slump of altcoins on exchanges, meme coins on-chain are booming, with various hundredfold coins emerging continuously. The myths of overnight wealth in various groups have never stopped. From the current trend, not only have institutions abandoned altcoins, but a large number of players are also abandoning altcoins and flocking to meme coins. As this bull market continues to rise, I believe the frenzy of meme coins has just begun. I recently bought a threefold coin and a fivefold coin; I have bought hundredfold coins before but couldn’t hold onto them. The launching of altcoins in the secondary market will take some time.