Crypto Apocalypse: 84% of Altcoins in a State of ‘Total Underperformance’
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CryptoQuant analyst Darkfost warned on Tuesday that 84% of altcoins are trading below their 200-day moving average, signaling broad weakness amid the ongoing bear market. This widespread underperformance suggests elevated downside risk for altcoin prices and DeFi tokens, hurting market sentiment, fundraising prospects and token adoption.
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Altcoins are arguably the segment that has suffered the most throughout this bear market, said CryptoQuant analyst ‘Darkfost’ on Tuesday.
84% of altcoins are trading below their 200-day moving average and are in a “state of total underperformance,” he added.
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