Altcoins continue to lose ground
According to the analyst, as many as 38% of altcoins are trading near their all-time lows. This is even worse than the situation that arose after the collapse of the cryptocurrency exchange FTX in November 2022.
Investment appetite for riskier crypto assets (altcoins) continues to decline amid general instability in the digital asset market. The prices of most alternative cryptocurrencies have still not been able to recover after the deep crash in October last year.
The FTX crisis, which triggered a massive sell-off in the market, is still felt by many crypto investors. However, according to the data, the current situation turned out to be even worse than in November 2022.
Experts believe that the recovery of the altcoin market will be extremely slow, as investors prefer to take a wait-and-see approach and invest only in the most reliable and liquid cryptocurrencies, such as Bitcoin and Ethereum.