Altcoins are nearing historic lows, and the altcoin market is extremely sluggish. Around 40% of altcoins are trading close to their historic lows (less than 25% of their all-time highs). The altcoin market has reached an extremely depressed level. At the end of June, when Bitcoin dropped below $60,000, this proportion once climbed to 45%. The market has fundamentally changed since then, with approximately 53.5 million cryptocurrencies created and 60,000 new ones added daily. Without strong liquidity injections, the vast majority of tokens will struggle to survive. Investors need to exercise extreme caution and rigorously vet projects.