PANews reported on November 13th that crypto analyst Route 2 FI posted that in November 2021, there were 477 projects with a market capitalization exceeding $100 million, while now that number has dropped to 388 (including stablecoins). His analysis is as follows: 1. November 2021 was almost the peak of altcoins in the previous cycle, and altcoins haven't truly experienced a crazy surge in this cycle; 2. At that time, tokens with low circulating supply and high fully diluted valuations (FDV) were uncommon. If ranked by the number of projects with a fully diluted valuation exceeding $100 million, this number should be higher now than in 2021; 3. Liquidity and funds are increasingly concentrated in fewer, larger projects, meaning that even with an increase in total market capitalization, smaller altcoins will find it difficult to achieve high valuations; 4. After several rounds of hype, retail and institutional investors are more cautious, favoring tokens and ecosystems with practical value and proven track records, rather than speculative tokens. In addition, the analyst mentioned that there were 1,153 projects with a market value of over $10 million in 2021, while the number has now reached 1,227, and he originally thought the number would be higher.PANews reported on November 13th that crypto analyst Route 2 FI posted that in November 2021, there were 477 projects with a market capitalization exceeding $100 million, while now that number has dropped to 388 (including stablecoins). His analysis is as follows: 1. November 2021 was almost the peak of altcoins in the previous cycle, and altcoins haven't truly experienced a crazy surge in this cycle; 2. At that time, tokens with low circulating supply and high fully diluted valuations (FDV) were uncommon. If ranked by the number of projects with a fully diluted valuation exceeding $100 million, this number should be higher now than in 2021; 3. Liquidity and funds are increasingly concentrated in fewer, larger projects, meaning that even with an increase in total market capitalization, smaller altcoins will find it difficult to achieve high valuations; 4. After several rounds of hype, retail and institutional investors are more cautious, favoring tokens and ecosystems with practical value and proven track records, rather than speculative tokens. In addition, the analyst mentioned that there were 1,153 projects with a market value of over $10 million in 2021, while the number has now reached 1,227, and he originally thought the number would be higher.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more