Author: flow, SwissBorg researcher; Translation: Golden Finance xiaozou
This cycle is unusual in terms of the dominance of Bitcoin and altcoins. In the past, the normal sequence of the crypto market was almost always such a process:
1) Bitcoin's dominance rises during the bear market
2) and continues to rise in the early stages of the bull market
3) As the bull market matures, investors begin to allocate funds to high-risk assets ("altcoin hot season").
4) As a result, Bitcoin's dominance begins to decline.
However, this time, we have not seen this complete process so far. Since the last bear market, Bitcoin continues to dominate the market and currently accounts for 57% of the total market value of the crypto market.
There are other possibilities here:
- We are experiencing an atypical market cycle.
- The real bull run has not really started yet.
I have expressed my views on this before, and I do not think we will see a large-scale altcoin boom like in the past: all altcoins are going crazy and Bitcoin's dominance has dropped significantly.
The current altcoin distribution (see the figure below) and market maturity make it more difficult to have a large-scale altcoin season.
Instead, I think the next phase of this bull run is likely to be driven by two or three dominant coins, with occasional special rallies - either stimulated by short-term attention or driven by some killer products or infrastructure that really attract users.
From this perspective, I think it is more cautious to choose altcoins in this cycle than in the past. Don't be naive to think that just holding zombie coins that have no product-market fit and no organic driving force will miraculously make your portfolio multiply by 10 times.
The game is getting harder and harder.
Forget the Doge days, there's a new sheriff in meme town, and it's packing some serious claw-Bill the Bear! This Solana superstar isn't your average grizzly. He waltzed into the crypto world with the motto "bear with me, I'm slow but steady." and within a day, amassed a legion of 25,000 besties (or holders) and a market cap of 20 million.
XingChiCrazy Wolf (CRAWOLF), a new Solana-based memecoin, promises astronomical returns akin to SHIB and DOGE. With its rapid growth potential and exclusive availability on Solana DEXs, it attracts investors seeking memecoin riches.
EdmundAfter Bitcoin broke through its all-time high, the single-day capital inflow scale of Bitcoin ETF also reached a new high, exceeding US$1 billion for the first time.
JinseFinanceIt seems to be an undoubted fact that Bitcoin’s future belongs to Wall Street.
JinseFinanceStablecoins have become a popular instrument in the cryptocurrency market, offering the benefits of digital assets while maintaining a stable value.
BeincryptoNansen's research team dives into the UST de-peg, using on-chain evidence to dispel the myth of a single malicious attacker on Terra.
Nansen
INTERNET CITY, DUBAI, Jul. 20, 2022 – LBank Exchange, a global digital asset trading platform, has listed Crazy Internet Coin ...
BitcoinistThe drawdown in the crypto market has seen new trends emerge in the market. With the recent crash, bitcoin has ...
BitcoinistDe Beers has launched its long-awaited blockchain-powered Tracr platform to track and manage diamond production.
Cointelegraph