Odaily News Crypto analysts have found that although the prices of some altcoins on the market have risen, the number of daily active wallets has not increased, indicating that altcoins are still in the "speculative" stage and are far from a general rise in the altcoin season. For example:
When the price of Algorand (ALGO) token was about $0.28 on February 10, the number of daily active wallet addresses dropped to 182,000. However, when ALGO hit an all-time high of $1.46 on December 20, 2021, the number of active addresses exceeded 1.31 million;
The number of daily active addresses on the LINK network dropped to 3,860 on February 10, compared with 11,200 on May 3, 2021, when LINK hit an all-time high of $46.71.
Nicolai Sondergaard, a research analyst at Nansen, said, "The altcoin season will still come, but the form may be different from the past. There are more tokens and they are more decentralized. Although most of them have risen, the growth of specific tracks and tokens will far exceed that of other sectors." (Cointelegraph)