Came across an interesting article looking at gambling altcoins and their value versus the rest of the crypto market and other gambling companies.
The conclusion was that gambling alts (like FunFair, Edgeless, etc.) are undervalued given that gambling is a key use case for cryptocurrencies.
Of course, FunFair at one point had a $900m+ marketcap (now just $21m).
Do you think these coins will bounceback? Will new ones emerge? Or do you think most people betting with crypto will stick with Bitcoin?
Here's the article:
https://www.cryptogamblingnews.com/crypto-gambling-undervalued/You also need to understand that Bitcoin and Ethereum are a reference for the rest of the market. When the market of those two is down since people tend to generalize they think that the Cryptocurrency market is down and for that reason the whole market goes down.
It's all down to personal preference but you will see that when the price goes up again the investment in altcoins will increase also.
IMO this is a reflection of the immaturity of the market and the lack of genuine use cases that are being adopted by a sizeable audience.
When/if that changes, alts that have high demand and circulation because they are linked directly to a world-class product or service should be able to stand alone.