The entire Crypto market Capital in 2023 - 2024 does not increase rapidly according to the parabolic model, the Capital has not even returned to the ATH level of 2021. Growth bubble predictions are not for the Crypto market but for the data. Data and other subjects have a significant influence on the Crypto market.
The following are summaries and assessments of those hot growth phenomena.
#first. The number of Altcoins is growing in bubbles in 2024 and the risks that entails
Although the market Capital has not returned to its peak, the number of Altcoins and new projects has long surpassed its peak and increased many times compared to previous cycles. This causes the market to fall into a situation of "crowded land and crowded people", too many projects Chia a piece of the Capital pie that is getting smaller and smaller.
Number of Token by year. Source: Coingecko Research.- Data from Coingecko Research shows that, by April 2024, the number of Token on the market has exceeded 2.5 million while the number for 2023 is 1.98 million. That means, more than half a million Token were created in less than the first half of 2024. Coingecko said that on Medium , 5,300 new Token are created every day.
- Meanwhile, market volume is gradually decreasing and market Capital has not expanded as it did in 2021. Recently, Binance took the unprecedented step of launching an early warning feature for Token that may delisted . This is a consequence of having too many Token on the exchange but poor liquidation .
It is predicted that the number of Token lacking liquidation and gloomy volume will increase in the near future. Many Token/altcoins will be Delisting. Investors need to XEM their portfolio to restructure it into truly quality Token .
Also Read: There has never been as many new Token created as in 2024 and the consequences of that
#2. The number of users participating in the tap-to-earn movement will grow rapidly in 2024
A series of Telegram applications in the tap-to-earn game genre (touch the screen to earn regular points) have stirred up the community since the beginning of 2024 until now.
- Hamster Kombat announced it has reached 200 million users as of June, currently the most used tap-to-earn app today.
- Tapswap announced that it has 55 million players globally and 18 million daily players.
- Yescoin also announced they have reached 18 million users in just over a month, with over 6 million users connected to their wallets.
All projects are expected to be a "second Notcoin". But the question is where is the liquidation to satisfy hundreds of millions of users like that? And can the user growth continue without stopping? Meanwhile, the Crypto 2024 market is assessed by many experts as lacking cash flow from retail investors - which is still the driving force behind strong growth in previous cycles.
It is predicted that, in the context of Altcoin Capital recently falling below 1,000 billion USD, the hot growth in the number of users of Mini-apps on Telegram will cool down or be saturated in the second half of 2024.
Also Read: Vietnamese investors turn to expose Hamster Kombat, suspecting fraud
#3. Nvidia stock (NVDA) is growing hot and showing signs of a bubble in 2024
Nvida (NVDA) stock is a big representative of the so-called “AI stock” wave of 2024. Take Apple stock recently, as the company made a move to enter the AI market through a Cooperating with OpenAI, AAPL's Capital has increased by 600 billion USD. NVDA's Capital increased nearly 900% in the past two years, surpassing Google and Amazon to become the TOP4 asset with global Capital (after Gold, Microsoft, Apple).
The Financial Times believes that such phenomena are signs of bubble growth, when investors overestimate the potential of something and place high expectations on it. It is unclear what impact the "AI bubble" will have if it bursts, but the positive correlation between US stocks and Bitcoin is the basis for predictions that will seriously affect the Crypto market in general.
Also Read: Will the 2024 version of the "Dotcom Bubble" lead to the collapse of the Crypto market?
What do you think about the above bubble growth phenomena? Chia your opinion now in our community Telegram chat | Telegram channel | Facebook fanpage .
