This morning, I took a quick look at all the altcoins on Binance.
1. Most altcoins have plummeted by over 95%.
2. Almost all altcoins are near their all-time lows.
3. Most have market caps below 100 million UUSD, with a concentration between 20-50 million UUSD.
4. Newly listed coins are a bit more expensive, but there are still dozens with 1-2 billion UUSD.
5. Trading volume is pitifully low, with most trading below 100 UUSD daily.
6. Some well-known altcoins like DYM, Pixel, and Portal have plummeted 99% in just one year without a single iota of change.
7. Amazingly, in the blockchain gaming sector, Mana, Sand, Gala, and Axs all have market caps between 400-500 million UUSD, with only GMT dropping below 100 million UUSD.
8. BSC spot memes like CZ Dog and Mub have all plummeted to 20-30 million UUSD, even worse than RATs. 🤣
Conclusion:
The past two years have been an incredibly brutal bear market for altcoins. Those who have been insisting on playing the second-level copycat and are still alive and have not retired are all very awesome people who have made great contributions to the takeover business👍