Analyst: 40% of altcoins are currently hovering near their all-time lows.

Golden Finance reports that on July 8, CryptoQuant analyst Darkfost stated that 40% of altcoins are currently trading near their all-time lows. This is today's data, reflecting the harsh reality faced by all token-issuing projects. To be more precise, I created this chart to show altcoins whose prices are below 25% of their all-time highs (ATH). The altcoin market has now entered an extremely weak phase.

When Bitcoin fell below $60k again at the end of June, this ratio even rose to 45%. It must be recognized that the crypto market has changed. Today, CoinMarketCap statistics show that there are approximately 53.5 million cryptocurrencies in the market, with about 60,000 new projects being born every day.

Without strong new liquidity entering the market, it is easy to understand why the vast majority of crypto projects ultimately fail. Today, investors must be more cautious in screening the projects they participate in and maintain a high degree of selectivity.

BTC-2.02%
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