XRP has been rising irrationally recently. Looking at the tokens in the top 30 by market cap, none are from 2024, and only APT, PEPE, and SUI are from 2023.

The logic of investing in new tokens rather than old ones may be different now. Retail investors are playing with meme coins instead of large-cap coins. Among large-cap coins, institutions and large funds do not have high return expectations, so it is more appropriate to choose assets with larger market caps. Additionally, there is the factor of the U.S. altcoin ETF.