Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: hugeblack on June 20, 2024, 09:31:53 AM
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In the past, the spread of altcoins was a sign of market prosperity, as more projects with different capabilities meant more options and thus more cash flow, but in the last four years the market has witnessed a state of madness, as despite the increase in money being invested in altcoin, the number of tokens/coins has swelled from hundreds per day to thousands per day, and the bear market was an indicator of failure for these projects.
Is this growth beneficial for altcoins or will it make investors abandon from investing?
(https://talkimg.com/images/2024/06/20/hSqrI.png)
source -----> https://www.statista.com/statistics/863917/number-crypto-coins-tokens/
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In terms of total money invested or market cap, i would say more altcoin is still good. But one of the problem is more altcoin doesn't always mean more innovation or different capability. So investor usually either after more established altcoin or speculating which altcoin could let them earn short-term profit before abandoning it.
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In the past, the spread of altcoins was a sign of market prosperity, as more projects with different capabilities meant more options and thus more cash flow, but in the last four years the market has witnessed a state of madness, as despite the increase in money being invested in altcoin, the number of tokens/coins has swelled from hundreds per day to thousands per day, and the bear market was an indicator of failure for these projects.
Is this growth beneficial for altcoins or will it make investors abandon from investing?
Back when there were few blockchain projects the number of new alts was also lower as they were based on this limited blockchain (AKA Token require blockchain) Nowadays, every third or at least every fourth project comes with its own coin (coin if comes with its own blockchain) so they don't have to meet any requirements to launch their tokens. And we are seeing a lot of projects in the market some are good while some are just there to rug pull. Some projects provide the service to help you make your own coin (not a token).
The main point is, that this increment in the development of new projects is also good. For example, speaking of the TON project only, hundreds of telegram bots are using the TON network for their existence, and gained a lot of market cap as well such as NOT and there are more in the line. These projects based on the TON blockchain only are numerous and help tons to gain more users which is good for TON. Thus only a specific blockchain is being congested, otherwise, the main blockchain would be congested as well. I am glad that these telegram bots are not being built on the BTC blockchain. But RUnes and Ordinals are already doing the work to make it congested. So these abundant coins (come with blockchain of their own) are saving us from main projects and at the same time helping them grow as well. Helping the market to grow.
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The new altcoins increases the number of investors in the market and definitely increases the money supply which is a positive site for the crypto market but I can't think of it as positive at the moment. Because so many altcoins are being added every day, investors are now suffering from lack of confidence. Now investors have learned that the projects that come up may not rise to new heights after the hype end. There is a high chance of losing if you invest there. Moreover, the condition of all the strong projects is not good. Then the new projects will come to the market only to grab opportunities which have no basis. I think the additional growth of new projects is taking the market to the worst situation.
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No, don't be silly.
Just because more altcoins are being created everyday, doesn't take the focus away from altcoins that already have people's attention, unless they fall off of CoinMarketCap.
Also, I think CoinMarketCap is the ultimate beneficiary of all this - they make money every time a coin is made and from all the people who visit the site!
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In terms of total money invested or market cap, i would say more altcoin is still good. But one of the problem is more altcoin doesn't always mean more innovation or different capability. So investor usually either after more established altcoin or speculating which altcoin could let them earn short-term profit before abandoning it.
I agree.
And bad projects are just abandoned after some time. The market ignores them and most of those coins literally go to 0. I have seen that happen to a lot of projects... and it will continue to happen
The freedom to create tokens and sell them in services such as uniswap allows a lot of speculation. I don't know if that is positive in the end, as it is good for scammers...
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The freedom to create tokens and sell them in services such as uniswap allows a lot of speculation. I don't know if that is positive in the end, as it is good for scammers...
Most coins will get absolutely no speculation, or only a small amount of it, because their userbase is limited and most people don't care about the coin.
Among the rest, most of the others will just get negative speculation that makes the price drop like a rock, because people have a greedy mindset that makes them sell at the top.
Only a tiny fraction manage to get any positive speculation. No scammers to see here - they only dump their bags.
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No, don't be silly.
Just because more altcoins are being created everyday, doesn't take the focus away from altcoins that already have people's attention, unless they fall off of CoinMarketCap.
Dash, NEM, NEO, EOS, Elrond, how many have lost their userbase and are not able to reach forget a new ATH but at least on par with the last one? Once you go to the second page of any listing you will see a ton of old coins there and a lot that have lt even managed to reach again in the last year yoy based.
There is a limit to how much money people can throw at those alts and new ones devour that share, you don't even have to go that low in the ranking, cardano and polkadot are clear examples.
But one of the problem is more altcoin doesn't always mean more innovation or different capability.
I stopped in 2017 looking for innovation from these coins, the amount of true innovations seems like is going down faster than anything, what we have more and more is vaporware or useless features but packed as shiny as possible to sell.
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there are many new altcoins, it will not cause other altcoins to die, but the strength of the team must be to overcome how to convince investors to invest in the project that was founded, because investors will invest if the project being promoted is promising and planned in every development and journey to achieving perfection in one project and most importantly, many investors hope for short-term profits so they can move on to other projects that have more potential to provide profits
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No, don't be silly.
Just because more altcoins are being created everyday, doesn't take the focus away from altcoins that already have people's attention, unless they fall off of CoinMarketCap.
Also, I think CoinMarketCap is the ultimate beneficiary of all this - they make money every time a coin is made and from all the people who visit the site!
- You have a point in what you said, mate, and there is also the fact that the more altcoins are created every day, potential or not, cmc will benefit, Let's also include Coingecko. Although most of the altcoins in the field of the crypto space are not successful either, but there are still many that are successful in the market and are also the choices of investors to grow their capital.
Also, nowadays, in my assessment and observation, I notice that there are more altcoins that have real potential, from Layer 1 and 2, other meme coins, and even other AIs, and even other coins under Degen, and RWA.
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In the past, the spread of altcoins was a sign of market prosperity, as more projects with different capabilities meant more options and thus more cash flow, but in the last four years the market has witnessed a state of madness, as despite the increase in money being invested in altcoin, the number of tokens/coins has swelled from hundreds per day to thousands per day, and the bear market was an indicator of failure for these projects.
Is this growth beneficial for altcoins or will it make investors abandon from investing?
(https://talkimg.com/images/2024/06/20/hSqrI.png)
source -----> https://www.statista.com/statistics/863917/number-crypto-coins-tokens/
We. Are stable .
9900 in Jan 2022 and 10,000 in June 2024.
But if we ever do a big run up to 125k btc and 6k eth I think alts will run up to 13 or 14k alts which diluted things a lot.
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In the past, the spread of altcoins was a sign of market prosperity, as more projects with different capabilities meant more options and thus more cash flow, but in the last four years the market has witnessed a state of madness, as despite the increase in money being invested in altcoin, the number of tokens/coins has swelled from hundreds per day to thousands per day, and the bear market was an indicator of failure for these projects.
Is this growth beneficial for altcoins or will it make investors abandon from investing?
We do know that when it comes to innovation then its something that would really be that inevitable and not all coins in the market are really tha shit on whereas there are still those
projects which are trying to beat up to those who are sitting on the top rankings and really that believing that they could really be able to do such thing and this is why developers would really be creating on which far more better in terms of utility but neither those projects do succeed or fail which will really be that determined by community recognition or demand in the end of the day.
As an investor and on the point of view then investing in crypto will really be just that depending on you whether you would really be bothered or hindered due to tons of coins been launched on everyday or not.
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Not exactly, but it doesn't always help either. We need to remember that we are not going to get anything all that crazy, most coins/tokens that gets created, ends up getting out as well, so 100 new ones, 100 dead ones, and the balance stays. Secondly, if anything new comes out, and it gets a lot of attention, it creates hype for the market and allows people to invest more and have fun. When people have fun, that is good for the market and we should be happy about it as well. I know that a lot of people think that they can get away with what we have, but I think the fun part is quite important as well.
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Is this growth beneficial for altcoins or will it make investors abandon from investing?
This is still growth, because the introduction of more altcoins will create more awareness for the already existing altcoins that have good performance.
No matter the number of altcoins flooding the market there are many new investors in cryptocurrency who would never still consider bitcoin as a first option for reasons like they are late to it or it is too high already to invest in. Altcoin is the choice for these people.
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For me, new altcoins are killing other altcoins with little or no use case. If an altcoin has a strong and good use case with a decentralized app or even both decentralized and centralized apps, then no other altcoin will kill it. It will always outperform new ones. Examples are Solana and Injective. These altcoins are growing steadily as new altcoins arise. So, I think this altcoin survival depends on how useful they are.
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The altcoin ecosystem is driven by greed and profit so even if altcoins are killing other altcoins it's because of the investors' drive for profit, they are quick to dump old projects for new projects it will continue this way proof of these are the memes and this new up and coming model the tapping airdrops we will see more concept and models in the years to come as long as investors support new concept that will likely yield them profit.
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Is this growth beneficial for altcoins or will it make investors abandon from investing?
There is no easy answer to that question. One, the more the merrier and the more choices of projects to support I think it can be better for the industry so that one or two will eventually make it to the top and be solid when they gain some good level of traction in the market. Two, the alts market is open to anyone, anytime and anywhere...and somehow regulating the entrance of new players will not be good for all though competition wise there is a certain level when too much can already be counter-productive especially when majority of these new projects are just "me-too" types and are not actually offering anything innovative. That is why many of them will eventually die after some months of supposed operation, after the people behind them got the money they wished for. So many of these projects are here for the money and nothing more...and this is a big problem. In my view, there is a big lack of accountability here and this is an area that must be subject with regulation. Yes, you can open your platform anytime but you must know your responsibility and accountability otherwise there will be repercussions. when investors are losing their money because of flimsy projects, eventually the money and support will dry up as nobody is fooled a lot of times and not give up. As for me, I already abandoned supporting new projects a long time ago. Sad but I got already burned and I don't want to be a fool again and again.
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In a certain way a number of altcoin projects increase kills the altcoin market in the long term, people only see a new project as one-time dump scheme so they rush to invest as soon as possible and once it reaches the exchange they just dump everything and move on to the next project which kills the projects over time even though it didn't stop the new project from popping up. More and more people started doing this means there is no room for innovation or development just purely the profit is in their mind which is bad in my opinion.
A project should be successful based on it's utility but what we see on these days are just based on how much hype they gain via all kinds of marketing.
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In terms of total money invested or market cap, i would say more altcoin is still good. But one of the problem is more altcoin doesn't always mean more innovation or different capability. So investor usually either after more established altcoin or speculating which altcoin could let them earn short-term profit before abandoning it.
Altcoins are constantly coming to the market. Due to which investors do not hold altcoins like Bitcoin for a long time. Altcoins are a good place to invest short-term. But there are some top altcoins that can be invested in for long term like ETH, SOL, BNB and more. The altcoin retains a large enough marketcap that nothing is likely to come along that will kill it
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There is this thing altcoins always present and don't fulfill, that's promises and what they tend to do, they will do this and that but after listing, everything change, the investors of yhe public sales sell all their bags and move to the next projects and that's how they do continuesly with many abandoned projects without directions.
I think the launch of altcoins have even reduce or maybe they are just waiting for the bullrun to activate so they can start a new trend where many new projects will be launch and then abandoned again and the process continues circulating money from one projects to another all just for profits.
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New altcoins play a huge role in positively impacting the crypto market, but investors are always desperate for profits. So they will rush to invest where there is a chance of profit. Moreover now investors are only prioritizing the hype period because they have learned that new projects that come up may not rise to new heights after the hype is over. So they are not investing for long time and sell when there is in hype. So investors are now not thinking about long time holding which reflects the market destruction of many good old altcoins.
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I believe in the business space there is always a strong competition amongst themselves and only the fitest takes it all and so it is in the Crypto space. The more altcoins comes up the more the contention for survival because investors only looks for good projects that would yield profit for them so any project coming up would definitely look in the direction to best contend with their rivals in the same line to take over or they do something different and unique from the rest of the others for investors to see the reasons why they should pull out their funds from other projects and invest in their own project.
So therefore, the title "are altcoins killing altcoins" is very much valid and as a matter of fact, altcoin kills unserious altcoin from the market if they can not meet up with current trends and innovation. I have seen many altcoin fade away because they could not meet up and some other altcoin takes over from them and begin to do well in the same line.
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New altcoins play a huge role in positively impacting the crypto market, but investors are always desperate for profits. So they will rush to invest where there is a chance of profit.
I fail to see the huge positive role of altcoins in this scheme...
So you have a newly launched coin, early investors throw 1 million at it, the second generation of investors, those that some other posters claim have been positively attracted to altcoins put another 1 million, and the early investors sell their coins at a profit, the newbies are waiting for the price to recover ...maybe forever..
What is the positivity in this and how does this kind of awareness help crypto anyhow?
Crypto is not a money-making machine, if you make 100k from selling your stash at a profit it simply means somebody had paid 100k for it, you need someone to put his money in for you to take money out and not crash the market, 99.9% altcoins are just constantly fleecing newbies, that's all.
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Yes, I believe uncontrolled creation of altcoins are somehow causing troubles for the investors because they can't decide that which altcoin is going to be a good one and which one is going to be a scam and rug pull.
The old projects won't get impacted a lot by those new altcoins but surely the new altcoins can somehow take liquidity of investors and for that some investors who invested in good altcoins might take their money and invest it in those new altcoins.
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New altcoins play a huge role in positively impacting the crypto market, but investors are always desperate for profits. So they will rush to invest where there is a chance of profit.
I fail to see the huge positive role of altcoins in this scheme...
So you have a newly launched coin, early investors throw 1 million at it, the second generation of investors, those that some other posters claim have been positively attracted to altcoins put another 1 million, and the early investors sell their coins at a profit, the newbies are waiting for the price to recover ...maybe forever..
What is the positivity in this and how does this kind of awareness help crypto anyhow?
Crypto is not a money-making machine, if you make 100k from selling your stash at a profit it simply means somebody had paid 100k for it, you need someone to put his money in for you to take money out and not crash the market, 99.9% altcoins are just constantly fleecing newbies, that's all.
What happens with most new altcoins is that they enter the exchange and generate huge volume, all of which throws a spotlight so that investors believe the price and rush to buy the token. The positivity ends when the hype of these new projects wears off too soon. Especially the new investors get caught up in the hype due to which they can't make profit even after waiting for a long time. We have repeatedly failed in this matter so we want to think more than before in terms of investment. We want to stay away from the hype of new altcoins because it can give you big losse.
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I think a lot of money is being divided between these different altcoins and a lot of them are probably going to be a risk with each other. I think it's important to see whether or not the active coin is listed in good exchanges or not.
I am looking for the x-factor as well for the coins that do run-up. I do hope to see and analyze it correctly.
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Toss enough darts at the dart board and you will get a bullseye.
I had 500,000 mined doge my cost about 1,000 usd.
I sold at about 17 cents on average collected about 85,000 usd.
yeah could have held longer and got more but I got 85 to one.
this is the dream of alts.
I have a few alts.
shitcoins 16,000 of them
grin. 16,000 of them
doge. 10,000 of them
xec. 1,000,000 of them
all of the above is under 2,000 usd. but any one of them could moon and create big wealth.
do we need 14,000 different ones to pick no 2 or 3 thousand is more than enough
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People think that when there's more altcoins being launched the expected investment to that coin will be reduced. But in reality, it will only increase cash flow, and really benefit the overall altcoins in crypto space. Let us say, there's only one altcoins to be invested, so the question came out on the investors mind is, " I will buy this or not?", but if there's many altcoins, the question that came out is, "Should I buy this one or the other one?". So increasing the number of altcoins being launched is never a problem.
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I think a lot of money is being divided between these different altcoins and a lot of them are probably going to be a risk with each other. I think it's important to see whether or not the active coin is listed in good exchanges or not.
I am looking for the x-factor as well for the coins that do run-up. I do hope to see and analyze it correctly.
If we talk about altcoins, we must first understand the risks involved. There are not many altcoins that can provide them with easy returns. Altcoin price movements are often manipulated by developers so that they appear to have a lot of interest because of good price movements. Until the time comes when many new traders have entered this token, this altcoin will be knocked down by the developer. One of the wallets that has the most altcoins will sell them on the market. This kind of thing has happened a lot. So we have to remain careful when trading using altcoins.
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In terms of total money invested or market cap, i would say more altcoin is still good. But one of the problem is more altcoin doesn't always mean more innovation or different capability. So investor usually either after more established altcoin or speculating which altcoin could let them earn short-term profit before abandoning it.
I totally agree with you. Actually having more altcoins is good if they are valuable altcoins, unique, and useful. Unfortunately, there are a lot of new coins that have unclear purposes and no significant difference among of them. With this fact, it won't be surprised if many of them can be dead coins someday.
Most investors should prefer established altcoins such as ETH, BNB, SOL, DOT, TON, etc. They will hold the established altcoins for a long term target. Meanwhile for non established altcoins, it is true that they will target for profits for a short term. When they take profits, they will never invest in the non established altcoins anymore. At the end of the day, many of non established altcoins be dead coins.
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The more altcoins are created, the tougher the competition becomes. Yes, just imagine, there are lots, tens of thousands, of altcoins that exist and they have to get attention from their investors so they can survive on the market. Because if not, it will be abandoned. We already know how many altcoins have been delisted from exchanges, right? even top coins are like that, for example Waves and others from top exchanges like Binance, right?
Yes, because the competition in the crypto business related to altcoins is really tight. If the #DevelopmentTeam is not able to optimize all means to continue to make such good and sustainable progress, then never mind, it will end in the current bullish era. And in another bullish era, it would be pointless. And this is something that often happens.