With the adjustments of $BTC and the Meme sector, market funds are gradually flowing towards Ethereum ecosystem tokens and some obscure altcoins. However, some established altcoins such as XRP, ADA, XLM, and EOS have seen more significant increases. Among them, XRP has even returned to the top three by market capitalization, with a total market value of approximately $250 billion.
The common characteristic of these tokens is that they have undergone a long period of bottom consolidation, lacking hot topics and conceptual support, with relatively scarce retail chips and a high degree of control by the whales. Therefore, even with a large market capitalization, the resistance to price increases remains low.
Compared to the past, this cycle has introduced VC altcoins and Meme coins, which have somewhat disrupted the traditional capital rotation order, but the overall market trend and cyclical patterns have largely remained unchanged. The price increases of obscure old coins somewhat suggest market risk, as the wind can come quickly, but it can also leave just as fast. Especially in this round of altcoin season, the lack of ecological narratives and the number of coins and overall market capitalization far exceed the previous cycle, making it seem relatively weak to rely solely on capital-driven growth.
As for when the market will end, it is still difficult to draw a conclusion. It may require clear negative news or a general short squeeze in contracts as a signal. For some established coins that have seen excessive short-term price increases, timely reduction of positions may be a more prudent choice to secure profits.