The FDV of alts is one of the biggest illusions of this cycle—

According to Memento Research, among the 118 TGEs this year, 84.7% of new coins have fallen below their offering price, with only 15% maintaining an upward trend, leaving most early investors deep in paper losses.
Here’s a scary piece of data:
In 2025, there will be over 37 million types of tokens in the cryptocurrency market. What does this concept mean?
There are approximately 60,000 to 70,000 listed companies worldwide, while the number of Crypto tokens is more than 500 times that.
However, money and attention will not turn into 500 times; with each new coin, the pricing power of all old coins will be diluted a bit.
The reality is that most people only focus on a dozen or even just three to five assets.
The remaining tens of millions of tokens have had no audience since the moment TGE ended.
In such a market, those who can make money by holding alts for the long term are almost all a result of survivor bias!