According to Alon Cohen, Pump.fun founding partner, most technology -oriented Altcoin has a similar value to breast coins.
Alon Cohen: Most Altcoin serves the same purpose as breast coins
According to Cohen, Altcoins are launched with the support of low supply, high total market value (FDV) and usually retail investors as “output liquidity”.
Cohen, in his share in the social media platform X, responded to allegations that the collapse in the Altcoin market took place under the influence of breast coin platforms such as pump.fun.
In response to the above claim, Cohen said, “Individual investors suffered severe losses in the previous cycle and now ‘to invest in the future of the finance’ is as willing as much will. It also clarified the fall of Altcoin in April 2024.
Technology or speculation?
According to Cohen, most people focus on personal satisfaction, not technology. The important thing for them is to make a small profit, albeit small by having fun from trade.
These explanations reveal the tension between Altcoin investors focusing on the usage area and only the price speculation of breast coin investors.
Do breast coins suppress the subcoin market?
The Pump.fun platform was released in January 2024 at a time when the breast coin ecosystem grew rapidly. X (formerly called Twitter), the communities on platforms such as Reddit, Telegram and Discord showed great interest in breast coins.
However, after the Altcoin market reached a summit of $ 788 billion in March 2024, it experienced a harsh decline in April 2024. Prices did not see a new summit until November 2024. This rise was based on a historical rally triggered by the re -election of Donald Trump in the USA.
According to some analysts, the presence of too many subcoins in the market leads to the disintegration of investor interest and capital. So, the crypto money market is now very saturated.
Nevertheless, Altcoins, which received corporate investor support during 2024, performed better. According to Yat Siu, the founding partner of Animoca Brands, institutions generally support prices by making purchases from the open market, while projects without participation of individual investors experienced more value loss.
