Last weekend was marked by a serious sale of altcoins, which are in the top 50 by capitalization. In particular, the tokens Polkadot (-16%), Solana (-16%), Avalanche (-20%) and Fantom (-30%) can be noted, although similar dynamics was observed for a huge number of other coins. Moreover, the prospect of a further decrease in value by 50% from current levels and above remains, as altcoins have demonstrated incredible growth rates in 2021 in the absence of significant corrections (growth of 10 or more times), which seems impossible even for the cryptocurrency market.
BTC is feeling better and is still holding above the March lows, however, apparently, this will not last long.
The nearest target for the main cryptocurrency is the mark of $ 37 thousand. Now about 50% of all coins in circulation bring profit to their owners. As the quotes continue to fall, this figure will decrease, for example, at around $ 33 thousand, only 40% of coins will be profitable, and at the same time the number of people willing to sell unprofitable assets will grow.
There is no major news in the industry, as a result of which investors are completely focused on the state of the global economy, which, as many believe, is slipping into stagflation. In such conditions, there are very few people willing to buy ultra-risky instruments. Nevertheless, they are there. For example, a number of investors (including players such as FTX and Circle) have allocated $ 1 billion dollars to create the Asymmetric Fund venture fund, whose specialization will be the financing of crypto startups.