LIVEWHO IS UNDERPERFORMING? 🤔Here Is The Answer 👇
In the last 90 days, 9 altcoins didn't perform well compared to Bitcoin. These are: Cardano, Polygon Matic, Optimism, Injective, Monero, Celestia, Lido and Arbitrum. Note that the image reports only the top 50 altcoins and it shows in percentage their performances against BTC. The reasons could be several. For example, when the Bitcoin dominance is too high, investors tend to favor BTC over certain altcoins. Also when new competitors with better value proposition appear, some liquidity may flow to them. (e.g. $OP Vs $MATIC ). Not least, regulatory concerns. Let's take Monero (XMR); Monero has underperformed due the de-list of several exchanges. Authorities didn't like its privacy technology and thus they put pressure on several exchanges.
Keep always in mind that the underperformance of altcoins can be influenced by a combination of market dynamics, investor sentiment and specific factors. As a consequence, I really recommend to go over 1 by 1 and analyzing them in depth!
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