Crypto majors such as SOL, AVAX, APT, SUI saw 40% to 70% corrections over the past months, weighing on altcoin sentiment, while BTC and ETH are down only 15% from their yearly highs.
Venture funds are under pressure to sell tokens to realize profits on their investments made in the past years, Markus Thielen noted.
The lack of capital inflows to crypto markets “has particularly bad implications for tokens with large upcoming unlocks as well as new [tokens] and airdrop programs,” Anagram partner David Shuttleworth said.
The cryptocurrency market is undergoing a healthy consolidation after a massive run-up from October to March – at least for those who invested in the two largest digital assets.
For those who hold smaller cryptocurrencies, though, this is a brutal correction, with sentiment in crypto social media circles resembling bear market despair.
While bitcoin (SUI) and aptos <a href="https://coindesk.com/price/aptos/" data-position="autolink" title="Aptos Price
