Altcoins seem to be experiencing an unprecedented "winter". How much do you know?
1. "Cold jokes" in the cold winter: Worse than 2019?
Some people are shouting online that the altcoin market is even bleaker now than it was in 2019. Hey, let me argue about this. 2019 was the "Ice Age" of the blockchain industry. At that time, people talked about blockchain with doubts and confusion in their eyes, as if to say, "What can this thing do?" Tokens? They were even labeled "useless". At that time, you could even pick up a free L1 (a hypothetical blockchain underlying technology or token), just like picking up a shiny gold coin in the snow, but people around you told you: "This thing is worthless."
But what about now? Even the most pessimistic people will not easily say that blockchain is useless. Blockchain technology is like that child who works silently and hard. Although it is occasionally misunderstood, it has been growing and changing the world. So, saying that now is worse than in 2019? Well, this joke is a bit cold.
2. The “slimming down” of altcoins
Let's look at the data. The total market value of altcoins (those "little guys" that are not in the top 10 by market value) has shrunk to $149 billion. Think about it, at the beginning of the year, they were still in full swing, with a total market value of up to $366 billion. This drop is a nearly 60% "slimming" result. If this is a weight loss competition, then the altcoin sector is definitely a candidate for the championship.
But wait, let's take a closer look. If we exclude the new members who joined after January 2013, the remaining old members have a total market value of only $84 billion. And, you know what? In this bull market, their increase is only 12%. You know, in 2021, the circulating market value of the two projects, DOT and ICP, easily exceeded the $80 billion mark. This comparison is like sliding from the top of the mountain to the bottom of the valley.
3. The “warm sun” behind the downturn
However, the downturn is not all bad. It is like winter in nature. Although it is cold, it also breeds new vitality. In this "winter", the altcoins may be quietly accumulating strength and waiting for the arrival of spring.
Moreover, let's not forget that the market always moves forward with fluctuations. Every downturn is a test of investors' minds and a screening of truly valuable projects. As the old saying goes, "True gold is not afraid of fire." Those altcoins that can survive the cold winter may be the dark horses of the future.
4. Stay optimistic and wait for the flowers to bloom
Therefore, in the face of the downturn of altcoins, we might as well maintain an optimistic attitude. After all, history is always surprisingly similar, but it will not simply repeat itself. Every trough is a preparation for the next leap.
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