Altcoin season is canceled without replacement because of the bushes of 36 million tokens
- Kryptoanalyst Jesse Myers emphasizes that with over 36 million old coins that saturate the market, their collective strength has significantly reduced, which leads to growing Bitcoin dominance.
- Myers realizes that many old coins disappear in insignificance, but rarely reach the value zero, so that a large part of the market remains as an illiquid remains.
Altcoins have been struggling since the beginning of 2025, with the most important digital assets such as Ethereum (Eth), Solana (Sol), Cardano (ADA) and Dogecoin (Doge) corrected by 35-40 % each. Some market analysts believe that the old season is finally out.
The well-known Bitcoin analyst Jesse Myers found that more than 36 million old coins have flooded the market in recent years. As a result, the value of the entire area has dropped considerably. Myers commented on this situation with the words:
“Bitcoin only made that stronger.”
Growing Bitcoin dominance
Since the number of old coins on the market continues to rise, Kryptoanalyst Jesse Myers said that there is a growing trend in Bitcoin dominance. According to Myers, the sheer number of old coins has increased, but her collective influence on the AltSeason has decreased since 2021.
Myers is convinced:
“Bitcoin’s dominance has increased steadily because more and more old coins lose relevance.”
He also emphasized that even when old coins fade, they rarely reach the value zero. Instead, they are often traded with a minimal market capitalization of $ 10,000 or $ 100,000.
The analyst pointed out that with more than 36 million such “illiquid remains”, a large part of the entire crypto market capitalization consists of inactive or less liquid coins. Over and beyond added Myersthat Bitcoin is now closer to the effective total dominance, which underlines its strength and at the same time reduces the chances of an old coin season.
How Bitcoin wins
Jesse Myers emphasized three main reasons why Bitcoin wins the game against the old coins:
- Digital scarcity as a unique phenomenon: The foundation of Bitcoin marked the beginning of digital scarcity, a groundbreaking innovation that cannot be replicated. This unique phenomenon makes Bitcoin a pioneer in the field of cryptocurrencies.
- Network effects and the power of money: Money lives from network effects that often consolidate around a single unit. Using the game theory, the analyst explains that if 100 strangers were asked which cryptocurrency in their opinion would dominate, the answer would probably correspond to Bitcoin. This concept, which is known as a Schelling point, underlines the role of Bitcoin as a central asset in the digital economy.
- Krypto Catch-22 blocks real competitors: The analyst also referred to the “Crypto Catch-22” phenomenon, a structural challenge that prevents real competition from creating Bitcoin. This paradox ensures that bitcoins remain unchallenged on the market. As CNF reported, even conservative large banks such as Goldman Sachs invest in Bitcoin.
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