Roughly 38% of altcoins are trading near their all-time lows, a level that exceeds the market weakness seen after the 2022 FTX collapse, according to CryptoQuant analyst Darkfost.
The analyst said the current environment is unfavorable for risk-on assets, with crypto markets among the first to feel the impact of cautious investor sentiment.
“For comparison, this metric reached 35% in April 2025 and 37.8% just after the FTX crash,”
Darkfost said, noting that the latest data highlights declining investor interest in altcoins.
Several major altcoins are trading close to historic lows, including Cardano’s ADA near $0.27, Polkadot around $1.53 after recently touching a $1.13 low, and Polygon roughly $0.10.
Darkfost said liquidity has been shifting away from altcoins and into equities and commodities, while trading activity has fallen sharply since the October 2025 crypto market crash.
Daily crypto trading volume exceeded $417 billion on Oct. 10, the day of the crash, but ranged between $49.4 billion and $268 billion during February and March 2026.
Market observers say declining interest, competition among millions of tokens, and the rise of Bitcoin exchange-traded funds have contributed to the altcoin downturn.
At the time of reporting, Bitcoin price was $71,258.48.