The cryptocurrency market is going through a tough phase, and altcoins are under the greatest pressure. According to CryptoQuant analyst Darkfost, over 40% of altcoins are currently near their all-time lows.
This is a very high number and shows how weak the altcoin market has become in recent months.
Over 40% of altcoins are near their all-time lows
The recent price drop in the market began after October 2025, when Bitcoin fell from an all-time high of 126,000 USD to around 67,000 USD. While Bitcoin has dropped significantly, altcoins have suffered even greater losses.
The chart shared by Darkfost shows that the ratio of altcoins near their all-time lows is increasing to over 40%, higher than the previous downtrend peak of around 38%. This indicates that altcoins are currently under one of the strongest pressures seen in this cycle.
Many large-cap altcoins like ETH, Solana, XRP, Cardano, Chainlink, Litecoin, BNB, and Polkadot have dropped about 40% from their peak.
Meme cryptocurrencies have dropped even more. Dogecoin has decreased by about 45%, Pepe by approximately 53%, Shiba Inu by around 52%, Floki by 55%, and some tokens like Official Trump have fallen by up to 70%.
Why have altcoins dropped so significantly?
One main reason is global instability and geopolitical tensions, causing investors to shift money away from risky assets like altcoins. However, analysts believe there is another significant reason, which is that the market has too many cryptocurrencies.
Currently, there are over 47 million types of cryptocurrencies in existence. Among them, about 22 million tokens are on Solana, 18 million on Base, and 4 million on BNB Smart Chain. Due to the excessive number of coins, liquidity is dispersed, making altcoins weaker over time.
Opportunity or warning?
Although the situation seems negative, analysts still believe that 'this could also create opportunities'. Historically, when altcoins perform poorly to this extent, it sometimes precedes a significant recovery phase.
However, this does not mean that all altcoins will recover together. The reality is that only a few top market cap altcoins have the potential to 'get back in the game', while the rest will struggle quite a bit.
The Altcoin Season Index is currently at 55, indicating that Bitcoin still dominates the market, while a true altcoin season is still far off.
