- Thor Hartvigsen reports $8.6 billion liquidity surge in altcoins.
- Hartvigsen predicts $70.5 billion future liquidity in cryptocurrency initiatives.
- New crypto tokens like Jupiter’s JUP lead market capitalization growth.
Thor Hartvigsen, a well-known figure in the cryptocurrency world, has noticed a significant surge in the supply of alternative cryptocurrencies over the last four months. In a new update on X, Hartvigsen pointed out that there has been an infusion of $8.6 billion in extra liquidity into the cryptocurrency market this year. He believes that cryptocurrency initiatives will release an additional $70.5 billion in liquidity in the future years.
Hartvigsen pointed out that the average market capitalization and fully diluted valuation (FDV) for the recently introduced tokens is just 13.6%. Given his expectation of additional tokens and supply to enter the market later in the year, he views this as just the beginning.
In his update, Hartvigsen enumerated various types of tokens he anticipates will soon enter the cryptocurrency market in large numbers. These categories include Modular Infrastructure protocols, Bridges and Cross-Chain Messaging solutions, Liquid Restaking Tokens (LRTs), EigenLayer solutions, Layer 1s (L1s), Layer 2s (L2s), Layer 3s (L3s), and Perpetual Decentralized Exchanges, among others.
The crypto market analyst emphasized that the influx of market capital this year will not be confined to just new initiatives. He mentioned that a number of token unlocks from projects that started in 2023 will contribute a substantial volume of tokens to the market.
Hartvigsen also posted a screenshot showing the newly released tokens that he believes have potential for mid to long-term investment in alternative cryptocurrencies. Jupiter’s JUP was at the forefront with a market capitalization of $1.33 billion and an FDV of $9.88 billion. Ethena’s ENA was next, with a market cap of $1.17 billion and an FDV of $12.34 billion.
Additional new crypto tokens identified by Hartvigsen include ONDO, W, STRK, and DYM. These are among the leading alternative coins by market capitalization, part of a broader group that debuted in the first quarter of 2024.
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