The vast majority of new altcoins are underwater relative to Bitcoin
that the firm has studied the performance of more than 3,700 tokens to find out that a staggering 80% of them are underwater relative to the crypto king.
The stunning findings fly in the face of those who advocate against investing in Bitcoin due to its large market cap. While there are several gems that have significantly outperformed Bitcoin, the vast majority of the newly issued cryptocurrencies are either blatant scams or tokens without any semblance of utility.
Notably, the firm has also found that altcoins do not tend to perform much better in bull markets, which is arguably the most surprising tidbit from the analysis published by Jump Trading. This is a sign that the altcoin market is actually efficient despite how chaotic it is.
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