Analysis: The market lacks incremental liquidity, with about 40% of altcoin prices near historical lows

CryptoQuant analyst Darkfost stated that currently about 40% of altcoins are near historical lows. Indicators show that the prices of these tokens have fallen within 25% above their historical lows, reflecting that the altcoin market is in an extremely weak state.

Darkfost noted that when Bitcoin fell below $60,000 in late June, this ratio once rose to 45%. The latest data shows that this ratio is approximately 39.9%.

He also pointed out that the current market environment has changed significantly. CMC statistics indicate that there are about 53.5 million existing cryptocurrencies, and approximately 60,000 new tokens are still emerging daily. In the absence of strong incremental liquidity, most cryptocurrencies will face the risk of failure.