Lekker Capital Founder: Advises against investing in altcoins at this time

ChainCatcher message, the founder of the crypto hedge fund Lekker Capital, Quinn Thompson, advises against investing in altcoins at this time. He pointed out several indicators of market instability, including high leverage and open contracts, a lack of panic buying, and stagnation in stablecoin supply.

He believes that the market is experiencing increasing selling pressure, particularly from venture capital funds that need to raise funds, leading to more selling than buying. This situation, combined with low trading volumes in the summer, makes it difficult for altcoins to gain traction.