The total market capitalization of Altcoins is still 10 times higher than the early stages of the previous bull cycle.
There are a few things that prevent Altcoins from rising, despite their very high capitalization.
Meme coins are no longer community memes, now there are only VCs memes -> very easy to be dumped.
The total value of stb in the market has only increased by $20B, compared to the previous bull cycle.
There are more than 400 L2 blockchains in the market, each blockchain has its own story to attract investors. All of them just want to sell their coins, so the competition is very fierce -> VCs have difficulty choosing quality products, reducing the possibility of coin price increase.
Projects compete to list on the exchange, when listed, the value of the coin is not focused on by developers -> Many projects "Exit" before VCs, before the market adjusts.
=> Altcoins market is losing momentum and appeal to VCs.
So be selective about which coins to buy.
