According to data from analytics platform Arkham, more than half of the altcoins on the market have lost between 30 and 60 percent of their value over the past year, a sign of intense selling pressure and widespread weakness in the non-Bitcoin (BTC) cryptocurrency market.
Meanwhile, the hype surrounding exchange-traded funds (ETFs) has only slightly reduced negative market sentiment, but has yet to have a noticeable impact on prices.
According to the report, cryptocurrencies such as Shiba Inu (SHIB) and Dogecoin (WIF) topped the list of losers last year. The Altcoin Season Index (ASI), which was close to 90% at the end of 2024, has now fallen to around 10%, indicating that the broad growth of altcoins has effectively come to a halt.
However, some analysts believe that the launch of Solana (SOL) and Ripple (XRP) ETFs could help revive some of the market.
The Solana ETF broke fundraising records in its first week, but the cryptocurrency's price is still fluctuating between $180 and $200.
Overall, Bitcoin's market dominance has stabilized at nearly 60%, and there is still limited room for growth for altcoins.
