Take a look at the top ten by contract trading volume: stocks + gold make up half.
$PEPE fell nearly 17% overnight, showing that altcoins are getting harder and harder to trade. Money is flowing into stock tokens and RWA. Monthly trading volume for tokenized stocks has multiplied more than 60-fold in a year, with Binance taking nearly 80% of it. The supply of native altcoins has dried up, and most of the projects lining up for a TGE are old ones.
Why are retail traders betting on obscure coins? Because they can’t make money elsewhere, and they’re afraid big-cap coins will fall too—so they might as well just gamble. That’s why crypto is becoming more and more like a casino.
Altcoins have only two paths forward: either they have real revenue and buybacks, like $UNI , $AAVE , and $HYPE, so they can be valued; or they become pure gambling, driven by sentiment and market manipulators. To survive, they have to connect with stocks; otherwise, there’s no story to tell. Around 40% of altcoins are near their all-time lows. PEPE is a living example: it was holding up in the morning, then collapsed in the afternoon. Its narrative vanished overnight.
The worst hit are those in the middle: no real revenue, no stock/RWA story, yet still clinging to their altcoin status. They’ve been hit hardest in this cycle. The casino is getting more crowded, the bar for stocks is getting higher, and neither side wants the ones stuck in the middle.
Crypto in the future will most likely be just pure gambling and stocks.
$PEPE fell nearly 17% overnight, showing that altcoins are getting harder and harder to trade. Money is flowing into stock tokens and RWA. Monthly trading volume for tokenized stocks has multiplied more than 60-fold in a year, with Binance taking nearly 80% of it. The supply of native altcoins has dried up, and most of the projects lining up for a TGE are old ones.
Why are retail traders betting on obscure coins? Because they can’t make money elsewhere, and they’re afraid big-cap coins will fall too—so they might as well just gamble. That’s why crypto is becoming more and more like a casino.
Altcoins have only two paths forward: either they have real revenue and buybacks, like $UNI , $AAVE , and $HYPE, so they can be valued; or they become pure gambling, driven by sentiment and market manipulators. To survive, they have to connect with stocks; otherwise, there’s no story to tell. Around 40% of altcoins are near their all-time lows. PEPE is a living example: it was holding up in the morning, then collapsed in the afternoon. Its narrative vanished overnight.
The worst hit are those in the middle: no real revenue, no stock/RWA story, yet still clinging to their altcoin status. They’ve been hit hardest in this cycle. The casino is getting more crowded, the bar for stocks is getting higher, and neither side wants the ones stuck in the middle.
Crypto in the future will most likely be just pure gambling and stocks.
