Kevin Kelly, CFA, is the co-founder and Head of Research at Delphi Digital.
The consensus used to be that a rising BTC price resulted in a trickle-down wealth effect for ETH, and eventually would spillover into the long tail of “altcoins” — an endearing term commonly used to describe all the other crypto assets outside the Big Two “majors.” We saw this dynamic play out last cycle. When BTC and ETH were up, so was everything else.
For context, during the 2017 cycle, the total crypto market cap grew from around $40 billion to nearly $740 billion . The market cap of “altcoins” went from essentially zero to over $400 billion — with 90% of that growth occurring in 2H 2017 alone. All markets are simply a function of supply and demand. Crypto markets have grown considerably over the last several years, but so too has the aggregate supply of new tokens, and the crypto market is currently suffering from a substantial supply-side imbalance.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More than 100 animals found sick, dying at Narrow Way Farm rescued by Bucks County SPCAThe Bucks County SPCA has taken custody of more than 100 farm animals after numerous reports of sick and dying animals at Narrow Way Farm in Newtown sparked an animal cruelty investigation.
Read more »
Pitching woes continue for the Dodgers, who own narrow NL West lead despite injuriesThe Los Angeles Dodgers finally have their hitters healthy. Now, the NL West leaders need their pitching staff to follow suit. Right-hander Yoshinobu Yamamoto tossed a two-inning simulated game. He’s been out with right triceps tightness since mid-July. The 25-year-old is 6-2 with a 2.
Read more »
Walking the Tightrope: Jeff Peterson's Narrow Path To a Successful SeasonPeterson inherits a tricky situation heading into the 2024-25 season
Read more »
Carlos Santana's three-run homer powers Twins to narrow win over RangersJhoan Duran picked up his 18th save of the season in the victory.
Read more »
Mariners edged out by Detroit Tigers in narrow 3-2 lossThe Seattle Mariners lost to the Detroit Tigers 3-2 Wednesday night.
Read more »
Kazakhstan weighs commodity export duties to narrow budget gapNo 1 source of global mining news and opinion
Read more »