Analysis: Continued token unlocking and a lack of a new narrative have led to the stagnation of the altcoin market

PANews reported on June 3 that 10x Research published an article pointing out that Bitcoin continues to refresh its all-time highs, attracting a large number of institutional funds to pour in, but the altcoin market has stagnated. Continued token unlocking and the lack of a new narrative have become a constraint on the development of altcoins. The old model of relying on speculation and leverage has lost its effectiveness in the 4.5% Treasury yield environment, and even Ethereum has quietly entered the stage of "staking for moderate returns".

There isn't much money needed to drive altcoin prices skyrocketing, and a few large buy orders can leverage a low-liquidity market, but sustaining the rally is the problem, which requires more retail participation, and that's the real challenge. Over the past year, crypto Twitter has been hyping altcoins about the imminent explosion of altcoins, and the concept of the so-called "banana zone" has been repeatedly mentioned, but this narrative has not yet been realized, and the market has not seen the key elements to support such a market, despite the high sentiment.