Eric Crown Calls Out 99.9% of Altcoins as Worthless

Eric Crown, a technical analyst, has made a bold statement about altcoins. In an interview with BeInCrypto, he revealed that he owns no altcoins at all and believes that more than 99.9% of them are worthless.

Crown's reasoning is rooted in his observation of multiple market cycles, during which he claims to have seen the failure rate of altcoins reach 99.999%. He notes that while there may be a handful of exceptions, they remain rare.

One reason for Crown's skepticism towards altcoins is his criticism of the dominance chart, which he believes has failed to accurately reflect market trends over the past three years. According to him, the chart has consistently shown Bitcoin's dominance increasing even during periods when meme coins and AI tokens have delivered outsized returns.

Instead of relying on the dominance chart, Crown recommends that investors focus on the performance of their favorite altcoins against both the US dollar and Bitcoin (BTC). He cites Hyperliquid (HYPE) as an example of a token that has been performing strongly in this regard.