Why did altcoins perform so poorly in this bull market?
1. OTC funds have not flowed into the cryptocurrency market: Although the Bitcoin ETF has brought more than 10 billion US dollars to Bitcoin, the funds from the Bitcoin ETF will only be used to buy Bitcoin, and will not flow into the cryptocurrency market to buy altcoins.
2. A large number of tokens are unlocked: With the development of the cryptocurrency industry, many tokens have gradually entered the unlocking cycle. Currently, 50 million US dollars of tokens are unlocked from major projects every day.
3. The market has issued a lot of tokens: Currently, a token with a circulating market value of several hundred million US dollars and a fully diluted market value of several billion US dollars is issued almost every week. In addition, many low-market-value Meme coins are also being launched to dilute the market liquidity. In May alone, the market issued more than 1 million new tokens, and Solana's data has not yet been counted.
Finally, I want to say: Although I hate the anxiety and torture that blockchain brings me, in fact, we who trade in cryptocurrencies are already very lucky. Countless people work hard just like us but can't earn a few taels of silver. Yes, the market is very bad recently, but after we get through this period, we will continue to be lucky!
1.BSV
Bitcoin SV (BSV) is a hard fork of Bitcoin Cash, launched on November 15, 2018, with the "SV" standing for "Satoshi Vision". It solves the scalability problem and increases the block size to 128MB. In essence, because it is forked from the BCH blockchain, Bitcoin SV will also show some similarities with Bitcoin Cash.
Bitcoin SV is currently trading at $39,121,139, indicating that despite the controversy surrounding the currency in the past, it is still very actively traded. Chart analysis of Bitcoin SV shows that after a sharp drop, the price rebounded and started to rise, which shows that demand is strong and may drive it to higher levels if the market environment is favorable.
2. ENS
ENS is the native token of Ethereum Name Service, which aims to provide users with a more convenient and secure way to resolve domain names. With the popularization of blockchain technology and the continuous expansion of application scenarios, the prospects for the development of ENS are broad.
First of all, ENS coin has strong technical support. As an important part of the Ethereum ecosystem, ENS Coin relies on the strong technical strength of Ethereum to provide users with stable and secure domain name resolution services. Secondly, ENS coin has significant advantages in user experience. By providing domain names that are easy to remember and use, ENS Coin reduces the difficulty for users to participate in blockchain projects and improves user experience. In addition, ENS coin also has good ecological development prospects. As the ENS ecosystem continues to improve, more and more projects will be connected to ENS, providing a broad space for the circulation and application of ENS coins.
3.OK
Ondo Coin (ONDO) is a project that aims to integrate real-world assets (RWA) onto the blockchain. Through this integration, Ondo not only provides the efficiency and security of traditional financial products, but also introduces the innovative advantages of decentralized finance (DeFi) into these products. Ondo's main goal is to bring institutional-grade financial products to ordinary investors and achieve financial democratization.
As of now, the price of ONDO coin is about 1.088, the total market value is about $1.67 billion, and the circulating supply is about 1.39 billion tokens. Recently, the price of ONDO coin hit an all-time high of $1.48, showing the strong interest and confidence of the market in this project.