Altcoins
Unlocked Tokens Bring Early Crypto Winter for Many Altcoins
The selling by some early investors and founders of various projects appears to be helping to usher in an anticipated “crypto winter” for digital tokens such as AvalancheDYDX and PYTH which are defined as altcoins.
Since Bitcoin’s price peaked in March, the market capitalization of altcoins other than Ether or stablecoins has fallen nearly 30%, according to cryptocurrency market data tracker CoinMarketCap. In the early days of cryptocurrency, all tokens other than Bitcoin were labeled with this moniker because they were an alternative to the original digital currency, which still holds more than 50% of the estimated $2.4 trillion digital asset market.