The “Altcoin” season of the cryptographic market is not what it used to be. In past cycles, Bitcoin’s demonstrations gave way to the Altcoin to the altre, raising almost all tokens. Now, the new market trends suggest that those days of indiscriminate profits are vanished.
Analysts predict a more selective Altcoin cycle: “The era of everything that the pumping is over.” In an interview with Beincypto, Hitesh Malviya, the founder of the Dyor cryptographic analytical tool, said that retail investors looking for the next great winner must adapt to these evolutionary trends.
How to find winning altcoins in the middle of choppy markets
Traditionally, the Altcoin season meant that Bitcoin’s dominance fell, and most Altcoins increased. That wide rally can be finishing.
“If the idea of āāa complete alternative season comes from the past cycles, then that is something that I really do not expect. What we have seen so far in Altcoins was simply the flourishing and the rupture of a bubble that occurred in two bull cycles and two cycles of bears,” Malviya told Beinypto.
Market experts foresee a more nuanced phase where the strongest projects prosper. In summary, instead of an ascending tide that lifts all ships, the next season of Altcoin can favor quality (projects with real use and income) about quantity.
Investors must focus on foundations such as the use, income and growth of the community: the market now rewards the substance on exaggeration. In fact, interest in speculative sectors such as Memes currencies has decreased dramatically since the end of January 2025.
“The adoption curve will take a new shape up, while the speculative curve will lose its charm, introducing less volatility in the market, providing more stable yields and making the market less correlated with the shares. This will create a new class of crypto asset, which should have two main types of offers of offers: Ethiotices roofed with a strong cash flow (EG, AVE) of the store.
A key reason for the evolution of the Altcoins season is that liquidity now revolves between different narratives.
Liquidity flows to convincing stories. There have been mini cycles in which certain themes set fire: memes coins, AI tokens, defi projects, metaveros games, etc. The money pursues a hot narrative, then moves towards the next.
Smart investors look at social networks, developer activity and news to catch early emerging narratives and enter the crowd.
“Liquidity will always flow in different stories at different times, since there are multiple categories within cryptography, as in actions, where some categories always exceed others. The same market dynamics will also be seen in cryptography,” Malviya said.
How to find a possible winner of the Altcoin season? Identify strength in low trends
Malviya believes that investors should observe Altcoins that show relative force during recessions. If an Altcoin can maintain its value or even increase while sliding bitcoin, that resilience indicates a strong demand (probably early accumulation).
“In Dyor, we offer a metric called optimized relative force, which helps track some of the best currencies and narratives that have demonstrated the greatest strength in the last 7, 30 and 90 days. The coins that have exceeded the widest market in the last 30 days have a great possibility of meeting when the market finds a background and begins a new advantage,” Malviya explained.

In addition, Malviya also discussed other fundamental metrics to track. These include:
- DEX volume: The increase in commercial volumes in decentralized exchanges can raise the prices of the native token.
- Total blocked value (TVL): The growth of the deposits and the total value blocked implies user confidence: Alcista for the token of the loan protocol.
- Derivative volume: Increasing commercial activity in the chain means more merchants and rates that support your token.
- Total value of insured oracle (televisions): The total escalation value insured by an oracle (for example, Chainlink) shows a greater dependence on it, which increases the demand for tokens.
- Income context: The real income of a Real World Service) indicates a sustainable model, not just exaggerated.
In addition, Malviya also emphasized the tokenomics of a cryptographic project. He believes that even a great project can hesitate if his tokenomic is defective.
Tokenomics: The supply and incentive design of a Token can make or break an alternative. The good tokenomic (fair distribution, strong utility) creates a lasting demand, while poor tokenomics (excessive inflation or constant unlocks) often condemn a project.
“Ideally, the community fund and the ecosystem should obtain at least 60% of the supply to generate real demand for the product by encouraging developers and users through planned token emissions at different stages. Tokens are really created to boost the demand of real users for the product. They can be considered as bribes to obtain the user’s attention, but since these bribes are also trades in the market, they can create a market Retail that can be a retail effect that can be the potential of power to the products.
Finally, share tools that can potentially help users to find the next winner for the Altcoin season.
- Dyor -The users can use Dyor to find relative force data in more than 200 coins, detailed tokenomic data on the demand side in more than 70 fundamental currencies and data in more than 65 currencies, together with detailed research reports in higher projects.
- Defill -Rerase data defi of multiple chains such as TVL and volumes.
- Dune analysis -It is a platform driven by the community that offers custom data panels in the chain.
“The community must learn to use the defilling and Dune panels to discover some interesting alfas. Most of the data in the chain are traced on both platforms, all that you should do is find the right board, take notes of the different growth metrics that notice and build its thesis around a currency using that data to achieve a better diligence due,” Malviya concluded.
Armed with solid investigation have the best opportunity to catch the next winner of the Altcoin season.
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