That’s why we didn’t see a real altcoin season during the 2025 bull market cycle.



2013-2014 — 500 tokens

2017-2018 — more than 3,000 tokens

2021 — more than 300k tokens

2025-2026 — 48 million tokens

The market has been heavily diluted.

Exchanges prioritize low-quality coins for trading volume, retail buys the hype, loses 90%, then exits.
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