This is the current market cap rainbow chart for altcoins.
This chart looks like it's talking about 'cycles repeating,' but the problem is that today's altcoins are not the same as those from back in the day.
The number of altcoins is increasing, but the real capital supporting them has not changed.
New coins use high FDV to lift the total market cap, while old altcoins are continuously bleeding, many of which have long been reduced to mere remnants of their market cap from years ago, or even gone to zero.
So this chart can only be used to judge whether sentiment and liquidity have been washed out, and cannot be used as evidence that altcoins as a whole are coming back.
At this stage, most altcoins are not experiencing a correction, but rather being eliminated by the times.$BNB
