The crypto world is rotten to the core, and now altcoins are just a cash-out scheme upon listing. In the past, at least there was a story to pump the price, like FIL promoting (decentralized storage) or DOT with (parachain auctions), which gave some hope. But now? In 2021, NEO, ETC, QTUM, LRC had a run, but now they're as cold as can be, with the big players having long since cashed out.
Why? The logic of altcoins has changed. In the past, they relied on narratives to fool retail investors, and concept hype could last a while. Now, they just list and dump, maximizing the efficiency of cashing out. Let's talk data: in 2023, the average altcoin dropped over 60% within three months of listing (according to CoinGecko statistics), FIL's market cap shrank by 90% from its 2021 peak, and the DOT auction craze is a thing of the past. The big players aren't playing anymore, so why should retail investors buy? There's no reason to enter the market anymore. Do you still dare to touch today's altcoins?
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