Surviving the Next Altcoin Purge

Even though Bitcoin prices continue to record new all-time highs, it appears like the altcoin surge will restart as we enter the second half of 2022. It is very possible that CoinMarketcap’s current list of the top 100 currencies in circulation will look completely different in the future. Make wise investments in order to preserve your market position. There is minimal to no correlation when it comes to cryptocurrency. As a result, my advice is to avoid chasing Altcoins and instead look for digital assets that have a specific use-case and are likely to remain in demand regardless of socio-economic trends.

Bitcoin is commonly referred to as the “first” cryptocurrency, and it is credited with kicking off the development of blockchain technology. It was effectively a beta test of the technology before it was distributed to the general public (and it still is), and the results have not been promising. Many advocates of bitcoin now refer to it as “digital gold” or a “store of value” because it is no longer viable for the majority of people to utilize bitcoin as money. Can you imagine going to the supermarket and having to wait four hours to pay for your groceries, plus an additional $25 in fees? It is obvious that this cannot happen.

Alternative cryptocurrencies are referred to as “altcoins” by the general public. Despite the fact that many people do not consider Ethereum to be an alternative coin, it is safe to claim that the other 15,000 coins in circulation are.

Many of the other cryptocurrencies, including GMT , Cardano , Solona ,Sandbox ,, Litecoin, and others, are variations or clones of bitcoin. They all approach Bitcoin’s problems in slightly different ways, but their solutions are rather similar on a fundamental level

The remaining alternative cryptocurrencies are aimed at solving a variety of problems. There are numerous “crypto currencies” that are not, in fact, currencies. Others will power the internet of things (IoT),Defi, Yield farming while others will power decentralized commerce exchanges, and so on. Some are social networking sites; others are cloud computing or data storage sites; and yet others are cloud computing or data storage sites. The vast majority of altcoin initiatives are using blockchain technology to address real-world concerns in a multitude of areas sports , fitness , ranging from the medical industry to the real estate market in metaverse , so it is not just about currencies and financial markets. In all honesty, the utility possibilities are endless.

But the reality is that as blockchain technology and cryptocurrency mature, a variety of solutions will become available to us. As a result of their individual technology decisions and trade-offs made in an effort to address existing issues, several cryptocurrencies will occupy various specialized markets. Even at the very top, there will be a lot of rivals; there will be at least two or three in practically any application you can think of

The development of new blockchains and tokens appears to be showing no signs of slowing down. One thousand coins have been destroyed in the last ten years, yet there are still nearly almost fifteen t thousand in circulation.

Prepare for a rise in the number of failures and attempts that come and go, similar to what we saw in the dotcom industry in the 1990s. However, from a technological standpoint, this is fantastic news because it will surely aid the industry’s continued development. Keep in mind that just because there are numerous options does not mean that each and every coin listed on Cryptocurrency Prices, Charts, and Market is equally valid. As a result, cryptocurrency trading is not a zero-sum game, and there will be no “winner” in the sense of a single cryptocurrency that dethrones Bitcoin as the dominant cryptocurrency. However, these “altcoins” have far more potential than the majority of people realize.

Approximately 70% of altcoins perished during the previous bull run, which is comparable to the previous bull run, which saw 80% of the top one hundred cryptocurrencies expire.

When looking at the top 100 coins, you will notice that 27 of them have weak fundamentals and are more likely to be removed from circulation. That is not to say that during the next few years, all of them will vanish completely. It is possible that they will reveal groundbreaking new technology or come to the conclusion that they should no longer be permissioned and non-trustless; nevertheless, this is also unlikely.

The remaining firms have weak fundamentals and are unable to gain traction. If you do not get traction when everyone else does, you will be kicked out of the group.

The alternative coins that will succeed in the next five to ten years will be those that have a meaningful application (that solves a problem) and are utilized by millions of people (traction).

Ethereum, with its distributed ledger contracts, huge adoption potential, and first-mover advantage; and GMT , with its fitness -centric ads and application, which has over a million users and is growing, are on my list.

#Playtoearn Coin are still trending is a platform with a fast in-game currency, a first-mover advantage, over a million gamers, and room for more.

IOTA is the first cryptocurrency to solve the scalability, security, and decentralization trilemma. ..Now trending fas and furious will be apps and their token coin related to Fitness and walking and jogging fanatics favorites

In the cryptocurrency market, there are no barriers that may prevent someone from creating something unique or allowing them to create a market monopoly. One of the main reasons for this market’s success is that it is fairly open .

The quest to create the most successful cryptocurrency has sparked an evolution that has resulted in forks and the formation of new coins, including Ethereum, Litecoin, Bitcoin Cash, AXES, Vet, ZIL ,GMT , Fitfs, Ripple, and Stellar, to name a few.

It is simply false to assert that a market crowded with competing cryptocurrencies would be bad. Even while Bitcoin has performed significantly better than most other cryptocurrencies, it is unrealistic to expect this trend to continue permanently.

As a result of our insatiable hunger for innovation, the value of cryptocurrencies continues to climb. Having thousands of distinct sorts of cryptocurrencies is not a negative thing. Each provides a unique solution to a multitude of problems.

please note, Crypto Winters Extension is usually the start of the purging process and investors must be careful with all the pennies token and newly launched coins , as institutional investors are a careful lot of analyst in comparison to retail investors ..as they come and go and will not bother to pick up any of the loose bits when they’re leaving the cryptocurrency market .