CryptoQuant CEO Ki Young Ju says altcoins are not disappearing, but the way they are valued is changing fast. In a June 17 post on X, he said tokens built only on hype and storytelling are no longer enough to survive in today’s market.
He explained that investors now care more about real users, real revenue, and long-term business models. In his view, the period where projects could raise value just by launching a token is fading.
Ju said altcoins that rely only on stories or short-term excitement are struggling. He argued that the market has become more selective, and weak projects can no longer survive on hype alone.
He added that narratives still matter, but they must be backed by real activity. Without users or income, tokens are losing investor interest faster than in earlier cycles.
Altcoins are not dead.
Narrative-only altcoins are. The era of making money just by issuing a token is over.
My personal view on which altcoins can still survive 🧵
— Ki Young Ju (@ki_young_ju) June 17, 2026
Altcoins that still matter must show real value
Ju grouped stronger altcoin projects into three categories. The first is large internet platforms that also use tokens, such as Binance’s BNB and Telegram-linked TON (GRAM).
He said these projects have real users, steady revenue, and long-term business direction. This makes them more stable compared to smaller speculative tokens.
The second group includes DeFi platforms that generate real income. He pointed to decentralized exchanges like Hyperliquid as examples of protocols that earn fees from real trading activity. The third group includes projects tied to bigger financial and technology shifts, such as AI agents and automated systems that may use blockchain in the future.
Altcoin growth stalls as capital concentrates in bitcoin etfs
Ju said the altcoin market has still not moved beyond its 2021 peak, while Bitcoin continues to attract more liquidity through ETF products and traditional finance channels.
He explained that capital is now flowing more into assets with regulated access and clearer pricing. Bitcoin benefits from steady ETF inflows, while most altcoins remain dependent on retail trading activity and thinner liquidity pools.
He added that future performance will depend less on market hype and more on real usage. Projects that generate on-chain activity such as fees, active users, or real applications are more likely to attract long-term capital. Altcoin ETFs could bring institutional money, but only for networks that meet stricter requirements around scale, compliance, and sustained demand.
What Ju noted is also changing how traders think about risk. Instead of rotating quickly between tokens based on narratives, more capital is sitting in fewer, larger assets that offer clearer regulatory pathways and deeper liquidity.
This reduces volatility in major coins but leaves smaller tokens more exposed to sudden demand drops. It also signals a market where attention is becoming a scarce resource. With institutions supporting capital in Bitcoin ETFs, altcoins are increasingly forced to compete not just with each other, but with the stability and simplicity of regulated bitcoin exposure.
Notably, Altcoins remain trapped in a persistent mean-reversion cycle with little sign of the long-awaited breakout rally, according to a new Matrix on Target report.
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