When looking back at past bull runs, a remarkable phenomenon can be observed: when the price of Bitcoin (BTC) climbed, many altcoins (that is, other cryptocurrencies other than Bitcoin) rose even more alarmingly; even when BTC was at During the sideways consolidation phase, the altcoin market still maintained a vigorous upward trend. During this period, many currencies emerged with an increase of more than 100 times. This was not limited to individual cases, but was a collective prosperity.

Specifically, from Solana (SOL) and Polygon (MATIC) to Composite (COMP) and AAVE, to Sandbox (SAND) and Decentraland’s token MANA, etc., these altcoins have grown rapidly in a very short period of time. For example, in just two weeks, the price increased tenfold.

However, turning our attention to the current market, although some currencies such as TIA have experienced short-term sharp rises, most of the newly launched altcoins have lacked momentum and are unable to sustain their upward momentum. As for the MEME currency field, since BOME, although new coins such as NEIRO have continued to emerge, overall, the performance of these new coins has been relatively weak and failed to reproduce the eye-catching glory of the past. The mentioned currencies such as COMP, MATIC, and $SAND, as representatives of the market boom in the past, are now facing different market environments and challenges.