Summary
- Chris Solars stated that there will be no altcoin season for the time being.
- He mentioned that among the 40 million tokens in the current virtual asset market, the majority will be worth zero.
- He analyzed that at least $300 billion needs to be invested to maintain the market, but currently, there is a lack of liquidity.
Chris Solars, Chief Investment Officer (CIO) of Amitis Capital, a fund focused on virtual assets (cryptocurrency), stated in an interview with the virtual asset specialized media CoinDesk on the 26th (local time) that "there will be no altcoin season for the time being."
He analyzed, "Currently, there are about 40 million tokens, and 99.99% of them will eventually be worth zero," adding, "Even the top 100 tokens by market capitalization have large unlocks scheduled."
He continued, "To maintain the current market price of virtual assets over the next three years, at least $300 billion needs to be invested," explaining, "However, the size of the liquid token market for hedge funds is only about $30 billion, and individual investors have moved to meme coins."
He also added, "This ultimately means that there is no one to buy the volume that will flood the market."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
