“Altcoin markets are currently a zero-sum player versus player game,” market analyst and CryptoQuant CEO Ki Young Ju wrote.
The total altcoin market capitalization is still below the all-time high recorded in November 2021, with capital circulating between projects and capital inflows remaining stagnant.
Market analyst Ki Young Ju, the CEO of CryptoQuant, compared the current altcoin market cap to the market cap of Bitcoin (BTC), which has doubled since 2021, and said: “Only a few altcoin projects with strong use cases and narratives will survive.”
According to Total3 — the total market capitalization of all cryptocurrencies excluding Bitcoin and Ether (ETH) — altcoins currently have a market cap of roughly $943 billion.
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