Market cycles are notorious for their volatility and dynamism. Altcoins ADA (Cardano), DOT (Polkadot), and AXS (Axie Infinity) were some of the most popular cryptocurrencies during the last bull cycle, reaching impressive all-time highs and excessively high and unsustainable market capitalizations. However, several factors suggest that these altcoins are unlikely to return to those peak prices.
1. Intensified Competition: Since the all-time highs of ADA, DOT and AXS, there has been an explosion of new projects and emerging technologies offering more advanced or different solutions. This increased competition has diluted interest and investment in these specific assets.