Abe Simpson’s tirade about how difficult it is to stay hip with age can be applied equally well to cryptocurrency.
You might have been with us five years ago. “it.” It’s possible that you have a portfolio of coins such as litecoins like XRP and stellar, cardsano and even Zilliqa or waltonchain.
The market quickly changed what “it” was. You’re not holding anything. “it” Why not? “it” The AI agent memecoins and the pump.fun rugs are both bizarre (AI agents) as well as scary.
This will happen to everyone!
While looking back, 2019 does feel like another world — years before Bored Apes, Ethereum layer-2s and memecoins other than DOGE — some things haven’t changed at all.
The same coins topped the list this morning, BTC, ETH, and XRP. Even further back, in July 2016, you can find exactly the same projects on top of the podium.
Outside these three categories, however, the majority of the market looks very different from previous cycles. The market has lost hundreds, if not thousands of coin.
In May 2019, the top 25 projects were NEO, IOTA Tezos Ontology NEM Zcash. Tezos has been replaced in the Top 100 by Solana (Toncoin), Avalanche (Avalanche), Chainlink and Avalanche.
While we are all waiting for the altcoin launch season, dino coins have been working hard to remain ahead of this trend.
It took me the whole morning to filter the data on the coins ranked in the top 250 of the market cap list, and specifically the Bitcoin ratios.
It’s no secret that when bitcoin increases, everything else tends to rise to make it up. USD-denominated prices are then mostly noise — the signal is easier to find by comparing how coins are doing against bitcoin itself.
In fact, out of the 188 coins that don’t fall under the categories of stablecoins (liquid staking, wrapped tokens), one third (61) saw their bitcoin ratios go up in the previous year.
And of those coins, almost one-third (20) are what you might consider dino coins — tokens tied to projects that were launched at least five years ago. These are highlighted in purple.
The newer coins are still the most popular. The top dino coin of the last year is CHEX. This native token from the license-heavy RWA Chintai chain has returned over 300% compared to bitcoin.
The bitcoin ratios of seven of these newer coins had exploded by thousands of percentages, dwarfing all the other coins. The four memecoins were WIF, BRETT POPCAT MOG, and BRETT. They also included mantra, virtuals, and aerodrome.
The market seems to also be paying attention even to the obscurer dino coins.
The obvious ones are: DOGE (XRP), XLM (BNB) and TRX. These coins have all seen strong gains in the last few weeks. It’s not just bitcoin. Other coins such as XYO (reserve rights), telcoins, nervos and livepeer are rarely seen.
It’s time to call it: this altcoin era is for the crypto hipster who doesn’t give a damn what. “it” It is not at all.
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