Data: Over 40% of altcoin prices are close to historical lows, a higher proportion than in the last bear market

CryptoQuant analyst Darkfost stated that over 40% of altcoins are currently trading at or near historical lows, a figure that exceeds the previous peak of about 38% during the bear market. The cryptocurrency market continues to be affected by escalating geopolitical tensions, with altcoins being hit particularly hard.

Darkfost also mentioned that the large number of cryptocurrencies directly leads to liquidity dilution, making altcoins increasingly vulnerable. Data shows that approximately 47 million cryptocurrencies have been issued globally, with 22 million on the Solana platform, over 18 million on the Base platform, and 4 million on the BNB Chain.