Analyst: 40% of altcoins near historical lows, altcoin market extremely sluggish

CoinFeed July 8 news, CryptoQuant analyst Darkfost stated that approximately 40% of altcoins are trading near historical lows (below 25% of their all-time highs), and the altcoin market has reached an extremely sluggish level. When Bitcoin fell below $60,000 at the end of June, this proportion once climbed to 45%. Darkfost pointed out that the current market has undergone fundamental changes. According to CoinMarketCap, about 53.5 million cryptocurrencies have been created, with 60,000 new ones added daily. Without strong liquidity injections, the vast majority of tokens are unlikely to survive, and investors need to be highly cautious and strictly screen projects.