Altcoins, particularly those outside the top 30, are experiencing severe underperformance compared to Bitcoin, with many tokens hitting all-time lows since December 2023. Factors such as high-interest rates and geopolitical issues are steering investor focus toward Bitcoin, leading to a decline in liquidity for smaller altcoins. Despite nearly 206 million active addresses reported, investor skepticism about the actual utility of decentralized applications and the authenticity of user engagement raises concerns about the sustainability of apparent growth in the altcoin market.
Altcoins outside the top 30 are trading near all-time lows, significantly underperforming Bitcoin, with many factors contributing to this decline.
User activity is reportedly strong with about 206 million active addresses, but analysts question the true utility and sustainability of reported user growth.
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