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CryptoQuant CEO: The arrival of the altcoin season requires retail investors to inject new funds
2024-11-28 02:20:26
Odaily News Ki Young Ju, founder and CEO of CryptoQuant, recently said that the altcoin season (a period of rapid price growth for altcoins, which typically follows a Bitcoin bull run) will require an influx of new capital from retail traders. He noted that institutional money is already tied up in ETFs, and that institutional investors who indirectly own cryptocurrencies through investment vehicles are unlikely to transfer gains from blue-chip assets such as BTC or ETH to altcoins. "For altcoins to reach new all-time highs in market capitalization, a large influx of new capital into cryptocurrency exchanges is required," Ju wrote. "Altcoin market capitalizations below previous all-time highs indicate reduced liquidity from new exchange users." "Altcoins should focus on developing independent strategies to attract new capital rather than relying on Bitcoin's momentum," the analyst concluded, while clarifying that he remains "bullish" on altcoins. (Cointelegraph)