### Altcoin Market Zero-Sum Game#

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Overview

The altcoin market is currently in a zero-sum game stage, characterized by players competing against each other without any new capital inflows. Despite Bitcoin's market cap doubling, the total market cap of altcoins remains below its all-time high, merely rotating within the market. Only a few altcoins with strong use cases and narratives will survive, while others face the risk of being eliminated.

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Analysis

The altcoin market is currently in a zero-sum game stage, characterized by player-versus-player (PvP) competition. Despite Bitcoin's market cap doubling, the total market cap of altcoins remains below its all-time high, indicating that there is no new money flowing in, but rather a rotation of funds among existing altcoins. In this scenario, only a handful of altcoins with strong use cases and narratives will survive. This means that the altcoin market will undergo a brutal elimination process, with only those projects that can deliver real value and attract user engagement emerging victorious. For investors, this implies the need for more careful project selection, focusing on the actual applications and development prospects of projects, rather than simply chasing short-term gains.

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Classic Views

The altcoin market is currently in a zero-sum game.

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There is no new capital flowing into the altcoin market, it is just rotating internally.

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Only a few altcoins with strong use cases and narratives will survive.

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The altcoin market is a player versus player (PvP) competitive environment.

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