Crypto Observer Highlights a Massive Altcoins Supply in Q1 2024

Thor Hartvigsen, a famous crypto personality, observed a massive increase in altcoins supply in the past four months. In a recent post on X, Hartvigsen noted an $8.6 billion additional liquidity supply injected into the crypto market this year. According to him, crypto projects will unlock $70.5 billion more liquidity in the coming years.

We’re 4 months into the year and have already seen a massive increase in the supply of altcoins.

Made a list of the ones I can remember from the top of my head.

This is ALREADY $8.6b in additional liquid supply injected into the market.

And $70.5b in total unlocked over the… pic.twitter.com/ep7f0fu0ZW

— Thor Hartvigsen (@ThorHartvigsen) April 27, 2024

Meanwhile, Hartvigsen highlighted that the average float in market capitalization and fully diluted valuation (FDV) of the newly launched tokens is a mere 13.6%. He considers this “the tip of the iceberg,” considering the new tokens and supply he expects to come later this year.

In his post, Hartvigsen listed some of the categories of tokens he looks forward to seeing flood the crypto space soon. They include tokens related to Modular Infrastructure protocols, Bridges and Cross-Chain Messaging solutions, Liquid Restaking Tokens (LRTs), EigenLayer solutions, L1s, L2s, L3s, and Perpetual Decentralized Exchanges, and many more.

Notably, the cryptocurrency observer highlighted that this year’s crypto market capital will not be limited to new projects. According to him, several cliffs ending from the 2023 cohort will unlock tokens of significant amounts into the crypto market.

Hartvigsen shared a screenshot containing newly launched tokens he considers viable for the ‘mid-longterm altcoin investing game.’ Top on the list was Jupiter’s JUP, with a market capitalization of $1.33 billion and a $9.88 billion FDV. Ethena’s ENA followed JUP with a $1.17 billion market cap and $12.34 billion in FDV.

Some of the other newly launched crypto tokens spotted by Hartvigsen include ONDO, W, STRK, and DYM. They constitute the top altcoins by market cap amid several others launched in the first quarter of 2024.

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