Ethereum

Solana

Arbitrum

Avalanche

<p>The crypto market is going through a tumultuous period, marked by a significant drop in altcoins, notably Ethereum (ETH) and Solana (SOL). Since early March 2024, the market capitalization of altcoins has fallen from about $1.27 trillion to about $866 billion. This dramatic decline has been fueled by declining global stock indices and massive token sales by venture capital funds.</p>
<h2 id="h-les-causes-de-la-chute-du-marche-crypto">The causes of the crypto market crash</h2>
<p>Several factors have contributed to this crypto crash. <a href="https://www.cointribune.com/en/crypto-defi-in-crisis-ethereum-drops-by-20/" target="_blank" rel="noopener noreferrer nofollow">The continuous sales by Jump Trading</a>, which liquidated a large portion of its Ethereum holdings, sent shockwaves through the altcoin industry. Additionally, the recent sale of 10,000 BTC by the U.S. government intensified the fear of capitulation, driving Ethereum’s fear and greed index down to 34%.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Altcoins, particularly those like Solana and <a href="https://www.cointribune.com/en/crypto-markets/avalanche-avax-en/" target="_blank" rel="noopener noreferrer nofollow">Avalanche</a> (AVAX), have experienced corrections of 40% to 70% in recent months. This selling pressure is exacerbated by crypto token unlocks and scheduled distributions in the coming years. For example, the Arbitrum network saw its token supply increase massively, which pushed its price down despite rising market capitalization.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-une-lueur-d-espoir">A ray of hope?</h2>
<p>Despite this difficult situation, some analysts see an opportunity. Michaël van de Poppe, a renowned crypto analyst, recommends practicing Dollar-Cost-Averaging (DCA) in the altcoin industry, in preparation for the next bull wave. He notes that Bitcoin’s dominance is showing signs of reversal, which could indicate an upcoming recovery of altcoins.</p>
<p>The altcoin season is in jeopardy, but all is not lost. Crypto holders must remain vigilant and ready to seize <a href="https://www.cointribune.com/en/and-what-if-this-boring-phase-of-bitcoin-hid-a-golden-opportunity/" target="_blank" rel="noopener noreferrer nofollow">buying opportunities </a>at low prices. The current volatility could offer attractive entry points for those who believe in the long-term resilience of altcoins. In the meantime, it is crucial to closely monitor market developments and stay informed about global economic trends.</p>

Crypto Market Crash! Altcoin Season at Risk

Table of Contents

Cointribune EN

Other articles published on Aug 19, 2024

Clash of Cryptos: Trump and Harris Battle for Digital Votes

JokerAI64x Launches AI-Driven Token with Presale Bonuses

Cardano Dares Hackers with $1M Challenge, Showcases Hydra’s Game-Changing Power

Australia’s Regulator Cracks Down on Over 600 AI-Driven Crypto Scams

Lido DAO Faces Investor Apathy: Will The Downtrend Persist

Bitcoin Sees Similar Correction to 2019

Join our free newsletter for daily crypto updates!