Analyst Nicholas Merten, also known as Datadash, notes that despite Bitcoin not being at its peak, many altcoins are currently trading at steep discounts compared to their previous valuations. This situation provides a prime opportunity for investors to spot emerging players in the market.
Merten highlights that the total altcoin market cap, excluding the top 10 cryptocurrencies, has decreased from $325 billion to around $234 billion. This significant drop indicates a market cleanse, where weaker projects are weeded out, thus spotlighting robust altcoins with potential for maximum gains.
