### Altcoin Market Zero-Sum Game#

The altcoin market is currently in a zero-sum game stage, meaning that the growth of some altcoins will inevitably lead to the decline of others. Although Bitcoin's market cap has doubled, the total market cap of altcoins remains below its all-time high, indicating that there is no new money flowing into the altcoin market, and they are simply rotating among themselves. Ki Young Ju, CEO of CryptoQuant, points out that only a few altcoins with strong use cases and narratives will survive, while others will face the risk of being eliminated. This means that the altcoin market will experience a brutal competition, and only those projects that can provide real value and attract investors will ultimately succeed. This zero-sum game situation also means that investors need to be more cautious in choosing their investment targets and focus on the actual applications and development prospects of altcoins, rather than relying solely on hype and speculation.