38% of Altcoins Hovering Near All-Time Low Prices — Analyst

CryptoQuant analyst Darkfost noted that approximately 38% of altcoins are currently trading near their all-time lows, a figure slightly worse than the 37.8% recorded immediately following the FTX crash, signaling an unfavorable market for risk-on assets. This situation suggests investors remain cautious, and liquidity is being drained from altcoins into equities and commodities. The Total3 metric, tracking the market cap excluding BTC and ETH, has retreated significantly. Furthermore, social media mentions and Google search volume for altcoins have dropped to multi-year lows, indicating a severe lack of interest. Analysts attribute this decline to market saturation with too many tokens, the launch of BTC ETFs trapping capital in traditional finance, and altcoins lacking the institutional support and "digital gold" narrative enjoyed by Bitcoin. Despite the regression, the analyst suggested this could present a buying opportunity.

(Source：Cointelegraph)