Bitcoin (BTC) $83,833 price has dropped to $83,585 amidst losses in US markets. Altcoins have experienced even greater declines. Although this uncertainty phase may end for cryptocurrency traders, altcoins faced a significant hit in the first quarter. As liquidity weakened considerably, risk appetite diminished. What altcoins did CZ confirm have no future? Which altcoins hold potential?
Altcoins with Potential
In particular, we witnessed a phase on the Solana $127 (SOL) network where nearly half a million tokens circulated daily. Millions of tokens are created within seconds. Imagine one of the cryptocurrency projects, backed by a team, possessing a corporate structure, employing dozens of developers, and attracting millions in investments, representing only one number among these millions.
Conversely, ten tokens created by a teenager pressing a few keys at his computer during a meal represent another number among these millions. It is unfair, nonsensical, and utterly unserious. Miles Deutscher made the following statement today:
“There are 37 million tokens in crypto. 99.9% of them are empty products. Only a handful of projects (probably <100) have serious, experienced teams behind them. Those with rising tokens (net buyers against net sellers). Clear and clean.”
Binance founder CZ replied to this post with a “100” emoji, expressing his support.
However, the same CZ encouraged the creation of more worthless tokens for his pump token on the BNB network. This contradiction is striking.
In conclusion, the figure of 37 million represents a massive junkyard, consisting almost entirely of useless numbers and letters without a future. However, tokens that truly generate technology, which are not printed for fraudulent purposes and do not solely enrich a single issuer, will survive while others will head for the junkyard.
S Coin and Cryptocurrencies
Building on the details from the first section, Poppe’s post today becomes more meaningful. As altcoins continued to suffer losses exceeding 9%, a popular crypto analyst wrote positively:
“Some ecosystems continue to grow. One of them is $S. Sonic is increasing its TVL (Total Value Locked in the network) from $250 million to $1 billion by early February. Massive growth, and the upcoming local USDC will enhance capital efficiency.”
