Analyst: 40% of altcoins are currently priced around historical lows

On July 8, according to CryptoQuant analyst Darkfost, 40% of altcoins are currently trading near historical lows. This is today's data, and it reflects the harsh reality faced by all projects that choose to issue tokens. To be more precise, I created this chart to show altcoins whose prices are below 25% of the all-time high price (ATH) level. The altcoin market has now entered an extremely weak stage. When Bitcoin fell below $60,000 again at the end of June, the ratio even rose to 45%. What needs to be realized is that the crypto market has changed. Today, CoinMarketCap statistics show that there are approximately 53.5 million cryptocurrencies in the market, and approximately 60,000 new projects are born every day. Without strong new liquidity entering the market, it is easy to understand why the vast majority of crypto projects will ultimately fail. Today, investors must be more cautious in selecting the projects they participate in and remain highly selective.