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Recently, if ICP and FIL can truly continue to strengthen, they might lift those old-school altcoins that thrived in 2021 but have been lying flat this cycle.
Look at DOT (Polkadot); during the last bull market, it delivered dozens of times returns. This cycle? Basically sitting on the floor, not moving at all.
Then there's ATOM; last October, a black swan event caused a sharp drop, wiping out all long positions at the bottom. Many spot holders saw the price plunge to 0.001 and probably felt completely discouraged—who would dare to touch it now?
NEAR and VET, these older blockchains, are even worse; their attention is so low it's pitiful.
The market gameplay has changed now. In the past, it was about hot concepts; now, it's about coins with "clean chips." Altcoins in 2024 either have too much trapped capital, and a rally would just help early investors exit; or their unlock schedules are endless, and small rises become opportunities for early investors to cash out. So, if the market stabilizes later and a new altcoin rally begins, I think the main players might actually be these forgotten old trash coins—because they've been cleaned out early, and their chip structures are lighter now.