Lekker Capital Founder Advises Against Altcoin Investment Amid Market Instability

According to Odaily, Quinn Thompson, the founder of Lekker Capital, a cryptocurrency hedge fund, has advised against investing in altcoins at this time. Thompson pointed out several indicators of market instability, including high leverage and open contracts, a lack of panic buying, and a stagnation in the supply of stablecoins. He believes that the market is experiencing increasing selling pressure, particularly from risk investment funds that need to raise funds, resulting in more sales than purchases. This situation, coupled with low summer trading volumes, makes it difficult for altcoins to gain traction. Thompson's advice comes as a cautionary note for investors considering altcoin investments amidst the current market volatility.