Is the potential shift in exchange rankings due to larger varieties of coins?

[akeemqaz]

Investors are increasingly drawn to low-cap altcoins, often overlooking more established cryptocurrencies. Newer altcoins, with narratives aligned with current global trends, are capturing attention due to their growth potential.
CoinGecko's Q2 report supports this trend. Exchanges listing a variety of new coins are seeing surges in spot trading volumes, while those focused on high market cap coins are experiencing declines : https://www.coingecko.com/research/publications/2024-q2-crypto-report

How do you view the role of altcoins in the crypto ecosystem? Could these ascending exchanges eventually overtake their higher-ranked competitors?

[Charles-Tim]

It is simple. People will see new coins and invest in them. The price will grow and they will dump it. If you see many coins that were just created, they increased more than 10 times but most of them have dropped more than 5 times. If the bear market comes, it will not be easy on the altcoins. As they got to all-time high this time now, they may not get to all-time again in decades because investors will dump them for new ones.

[hugeblack]

It is as selective as saying that Bitcoin is a bad investment based on a specific month or after the end of a 4-year cycle.
Investors were increasingly attracted to low-value altcoins in Q2 due to the strong rise in the price of Bitcoin, and there was a good opportunity for both Ethereum and Solana to rise, which made some bet on altcoins more than the major top10 crypto.

[bee]

Could these ascending exchanges eventually overtake their higher-ranked competitors?

No, as long as the supply of established coins remains in place (top exchanges), nothing will change. Competition between these exchanges is actually winning user trust. I mean users already have their own choice to hold most of their portfolio. This is like a bird with its nest, just because they find a new food source in an open area, doesn't mean they have to move the nest to that place.

[ABCbits]

I did quick check and it seems those exchange mentioned by CoinGecko listed many coin/token. For example, ByBit made 19 new listing in this month[1], while new coin/token listed by Gate.io have decent trading volume[2]. So your speculation could be somewhat true, although those exchange need to beware that many coin/token are short-lived.

[1] https://announcements.bybit.com/en/?category=new_crypto&page=1
[2] https://www.gate.io/price/view/new-cryptocurrencies

[Stompix]

I would have expected better from coingecko, but once I saw the mining figures, then I could toss this aside as amateur material

3. Bitcoin Mining Hash Rate Hit ATH, Before Dropping -18.8%

They grabbed the daily variations that can be different if you look it from GMT or PST time and made this title when the reality is different
These are the starting and ending diff for Q2

838,656   2024-04-11 00:17:33   86,388,558,925,171 - 86.39 T   + 3.92 %   0x17034219   09 min 38 s   618.15 EH/s
848,736   2024-06-20 12:29:57   83,675,262,295,059 - 83.68 T   - 0.05 %   0x17035d25   10 min 01 s   598.51 EH/s

There is no 18% anywhere.

Investors are increasingly drawn to low-cap altcoins, often overlooking more established cryptocurrencies. Newer altcoins, with narratives aligned with current global trends, are capturing attention due to their growth potential.
CoinGecko's Q2 report supports this trend.

DEx have 370 billion volume, top 10 CEX had 3.4 trillion.
Also, volume doesn't actually mean inflows.

[Fhiyyerh]

Investors are increasingly drawn to low-cap altcoins, often overlooking more established cryptocurrencies. Newer altcoins, with narratives aligned with current global trends, are capturing attention due to their growth potential.

But I wonder why these exchange tokens recorded lesser improvement, with only BGB and MX increasing greatly, BGB reporting a 432.7% increase since January. Do you think this preference for low-cap altcoins also applies to exchange tokens?

[hugeblack]

I did quick check and it seems those exchange mentioned by CoinGecko listed many coin/token. For example, ByBit made 19 new listing in this month[1], while new coin/token listed by Gate.io have decent trading volume[2]. So your speculation could be somewhat true, although those exchange need to beware that many coin/token are short-lived.

It's been a while since I visited CEXs but I thought the platform listed tokens on Launchpad and if the token became successful it would be listed otherwise it would be kept on Launchpad. Managing token pairs costs the platform a lot of money so they quickly remove tokens if there is no longer much liquidity.