DYOR

2024

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/altcoins-hit-their-peak-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoins Hit Their Peak in 2024</a><br></p>
<p style="text-align: justify">After a significant rise in the first quarter of 2024, the majority of altcoins have seemingly reached their zenith. Data indicates that these digital assets have suffered substantial declines, with losses ranging from 70% to 90% since their highs in March 2024. Consequently, the total market capitalization for cryptocurrencies, excluding Bitcoin and Ethereum, has fallen back to levels observed in December 2023, erasing all gains made earlier this year.</p>
<h2 id="which-altcoins-are-still-performing">Which Altcoins are Still Performing?</h2>
<p style="text-align: justify">Crypto investor Andrew Kang has expressed that nearly all altcoins have peaked during the current bull cycle. However, he is optimistic about <a href="https://en.bitcoinhaber.net/investors-reap-profits-from-memecoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> projects, suggesting they may outperform the broader market downturn. Kang believes that over 98% of altcoins have peaked, but a few assets, primarily memecoins, could reach new heights in late 2024 and early 2025.</p>
<h2 id="how-are-memecoins-bucking-the-trend">How Are Memecoins Bucking the Trend?</h2>
<p style="text-align: justify">In contrast to the broader altcoin market, memecoins are showing noteworthy resilience. Analyst Murad Mahmudov predicts that memecoins will lead the next altcoin season. He notes a shift in investor attention, with institutional <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> focusing on Bitcoin and Ethereum, while individual investors are increasingly drawn to memecoins.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<ul>
 <li>Memecoins have demonstrated stronger performance compared to other altcoin sectors during market volatility.</li>
 <li>Technological altcoins are underperforming due to waning investor interest.</li>
 <li>Many VC-backed altcoin projects may not sustain long-term success.</li>
 <li>Investors should critically evaluate the long-term viability of altcoin projects before committing funds.</li>
</ul>
<p style="text-align: justify">Data from DYOR reveals that memecoins have shown better performance amid market fluctuations over the past 90 days, with a relative strength of -0.37. In comparison, Web3 <a href="https://newslinker.co/category/gaming/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">gaming</a> and Layer-2 and Layer-3 technologies recorded much lower strengths of -1.32 and -1.30, respectively.</p>
<p style="text-align: justify">Hitesh Malviya, founder of DYOR, critiqued the altcoin ecosystem, particularly those projects backed by venture capital. He argued that 90% of these projects fail to survive beyond a few years despite initial promises.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/altcoins-hit-their-peak-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoins Hit Their Peak in 2024</a></h5>

Altcoins Hit Their Peak in 2024

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