Altcoin Cycle Resets As OTHERS Market Cap Halves While CEX Volumes Hit New Highs

Altcoins entered a deep reset after an anticipated 2025 boom failed to materialize, with the OTHERS market cap dropping from about $451 billion to roughly $182 billion by December 2024. As 2026 approaches, prices remain weak even as CryptoQuant data shows centralized exchange volume for altcoins outside the top five has climbed to cycle highs. Analysts are divided, with some warning of ongoing structural fragility and others arguing that whale-driven activity and a reclaim of the $260–280 billion range could eventually trigger a delayed altcoin season.