Altcoins have reached zero.

Apart from the top 20 cryptocurrencies and stablecoins, the total market value of all other altcoins has only dropped to 100 billion USD.

Many projects have not been diluted yet, such as $IP , $M , CC, $NIGHT , and other new coins, with almost all chips in the hands of the project parties. Looking at it this way, the industry really feels empty now.

During such a cold time, the last time it felt this way was definitely during the period of 2019 and 2020. If it continues to deteriorate, it will be impossible to find a similar garbage time over the past 8 years, returning to the early stages of this industry.

The algorithm is as follows:

Remove 300 billion USD in stablecoins, then remove the market value of the top 20 coins, leaving the total market value of all cryptocurrencies at about 100 billion USD, which is less than the market value of BNB.

The current total market value is 284 billion USD, stablecoins are 300 billion USD, then subtract the market values of the top 20 coins (excluding stablecoins) to see if it is around 100 billion USD.