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The Altseason isn’t Happening Because of Pump.fun
The post The Altseason isn’t Happening Because of Pump.fun appeared on BitcoinEthereumNews.com. Some crypto experts say that Pump.fun memecoin generation platform is to blame for the delay in the altcoin season. Let’s analyze what arguments “for” and “against” this point of view are given by participants of the cryptocommunity. Analysts Criticize Pump.fun Miles Deutscher, a well-known analyst in the crypto community, called Pump.fun one of the main reasons for the delay of the altcoin season. According to him, the current market dynamics differ from previous cycles, when speculative capital flowed into altcoins with good liquidity. “The launch of Pump Fun is directly correlated to the destruction of the altcoin market vs $BTC. The reason we’ve seen no major “alt season” across majors, is because the speculative capital that would’ve once poured into top 200 assets, instead decided to jump the gun and flood into on-chain low caps instead”, Deutscher wrote in X Recently, retail investors have gotten overly enthusiastic about illiquid memecoins, many of which have sagged 70-80% from their peak values. For example, a recent survey showed that over 60% of traders on Pump.fun are losing money. Deutscher emphasized that such a shift reinforced the bearish sentiment in the market and ultimately delayed the onset of the altcoin season. Historically, altcoins follow bitcoin when capital moves into projects with strong fundamentals. Ideally, the altcoin season starts a few months after BTC reaches a new all-time high (ATH). The latest altcoin season should have already begun, as the first cryptocurrency by capitalization updated ATH in March 2024. At that time, the price of the flagship crypto market went above $72,000 for the first time in history. Altcoin Season Index. Source: Blockchain Center.Net An experienced trader under the nickname Master of Crypto in X also emphasized the huge scale of Pump.fun’s impact on the crypto market. According to him, since April 2024, the…
The post The Altseason isn’t Happening Because of Pump.fun appeared on BitcoinEthereumNews.com.
Some crypto experts say that Pump.fun memecoin generation platform is to blame for the delay in the altcoin season. Let’s analyze what arguments “for” and “against” this point of view are given by participants of the cryptocommunity. Analysts Criticize Pump.fun Miles Deutscher, a well-known analyst in the crypto community, called Pump.fun one of the main reasons for the delay of the altcoin season. According to him, the current market dynamics differ from previous cycles, when speculative capital flowed into altcoins with good liquidity. “The launch of Pump Fun is directly correlated to the destruction of the altcoin market vs $BTC. The reason we’ve seen no major “alt season” across majors, is because the speculative capital that would’ve once poured into top 200 assets, instead decided to jump the gun and flood into on-chain low caps instead”, Deutscher wrote in X Recently, retail investors have gotten overly enthusiastic about illiquid memecoins, many of which have sagged 70-80% from their peak values. For example, a recent survey showed that over 60% of traders on Pump.fun are losing money. Deutscher emphasized that such a shift reinforced the bearish sentiment in the market and ultimately delayed the onset of the altcoin season. Historically, altcoins follow bitcoin when capital moves into projects with strong fundamentals. Ideally, the altcoin season starts a few months after BTC reaches a new all-time high (ATH). The latest altcoin season should have already begun, as the first cryptocurrency by capitalization updated ATH in March 2024. At that time, the price of the flagship crypto market went above $72,000 for the first time in history. Altcoin Season Index. Source: Blockchain Center.Net An experienced trader under the nickname Master of Crypto in X also emphasized the huge scale of Pump.fun’s impact on the crypto market. According to him, since April 2024, the…
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