PANews reported on January 10 that CryptoQuant CEO Ki Young Ju wrote on the X platform that “the altcoin market is currently in a zero-sum PvP (player versus player) game. Although Bitcoin’s market value has doubled, the total market value of altcoins is still lower than its previous historical highs, and is just rotating within the market without new capital inflows. Only a few altcoins with strong application scenarios and narratives can survive.”