Analysis: The traditional counterfeit season is disappearing, and institutional funds are shifting towards allocating BTC, ETH, and RWA
According to Cointelegraph, Andrei Grachev, managing partner of crypto market maker DWF Labs, analyzed that the "Altseason" driven by the overall rise of the crypto market is becoming a thing of the past. The surge in the number of tokens in the market, the limited scale of participants, and the absorption of liquidity by crypto ETFs are changing the market structure. Currently, institutional funds are more inclined to allocate to Bitcoin, Ethereum, and tokenized real-world assets (RWA), further diverting attention and funds away from altcoins. In the future, the market will see shorter narrative cycles and more intense sector rotations, with a large number of mid- to long-tail tokens resembling high-risk investments or "casino-like" assets, struggling to survive solely on speculation.
Data shows that over the past 13 months, the market capitalization of altcoins has cumulatively flowed out more than $209 billion, and currently about 38% of altcoin prices are close to historical lows.
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