CryptoQuant CEO Ki Young Ju argued on June 17, 2026 that the altcoin market is undergoing a reset, with speculation-driven tokens becoming unsustainable while fundamentally stronger projects may retain long-term value. Ki Young Ju stated that future winners are likely to emerge from three categories: tokens linked to major internet companies creating new ecosystems, revenue-generating DeFi protocols, and projects aligned with stablecoins, real-world assets, and tokenized equities. The analyst compared the current cycle to the dot-com bubble aftermath, where infrastructure-focused businesses eventually became industry leaders while most companies failed.
Ki Young Ju acknowledged that many market participants remain skeptical of altcoins after previous losses. His argument centers on selective investment rather than complete rejection of the sector. He estimated that most altcoins may not survive, while a small portion could remain viable if supported by sustainable revenue, real utility, and expanding ecosystems. The previous model of launching tokens without strong fundamentals is no longer sustainable, according to Ki Young Ju.
CryptoQuant Data Shows 15 Consecutive Months of Altcoin Selling Pressure
CryptoQuant data indicates that the broader altcoin market remains under pressure. CryptoQuant analyst IT Tech reported that altcoin selling activity on spot exchanges has reached a five-year high, with fifteen consecutive months of net selling recorded. The cumulative buy and sell volume gap for altcoins excluding Bitcoin and Ethereum has continued to decline, reaching its most negative level since the metric was introduced in 2020. While conditions briefly stabilized in early 2025, selling pressure later resumed and has persisted for more than a year.
Hyperliquid and ONDO Demonstrate Selective Growth in 2026
Hyperliquid emerged as one example of a fundamentals-driven rally. The project's HIP-4 event contract feature generated $6.2 million in trading volume during its first 24 hours. Hyperliquid directs 97% of protocol fees toward token buybacks. The platform's expansion into RWA perpetual markets, including contracts linked to commodities and equity indexes, has contributed more than $280 million in cumulative trading volume from non-crypto assets.
ONDO represents another example of a market move linked to broader sector development. The token gained approximately 60% in May amid growing interest in tokenized RWAs. Solana's recent performance has been supported by increasing institutional adoption. The blockchain has gained attention as companies including PayPal and Visa expand stablecoin settlement activity through its infrastructure.
Recent market activity suggests that capital appears to be concentrating around projects with visible product development, real usage, stronger economic models, and increasing exposure to institutional investment flows, including ETF-related demand.
FAQ
What did Ki Young Ju say about altcoins on June 17, 2026?
Ki Young Ju argued on June 17, 2026 that the altcoin market is undergoing a reset, with speculation-driven tokens becoming unsustainable. He stated that future winners are likely to emerge from tokens linked to major internet companies, revenue-generating DeFi protocols, and projects aligned with stablecoins, real-world assets, and tokenized equities.
What does CryptoQuant data show about altcoin selling pressure?
CryptoQuant analyst IT Tech reported that altcoin selling activity on spot exchanges has reached a five-year high, with fifteen consecutive months of net selling recorded. The cumulative buy and sell volume gap for altcoins excluding Bitcoin and Ethereum reached its most negative level since the metric was introduced in 2020.
How much trading volume did Hyperliquid's HIP-4 feature generate?
Hyperliquid's HIP-4 event contract feature generated $6.2 million in trading volume during its first 24 hours. The platform's RWA perpetual markets have contributed more than $280 million in cumulative trading volume from non-crypto assets.
