Hyblock CEO Says More Crypto Products Compete With Altcoins for Capital

Hyblock Capital CEO and co-founder Shubh Varma said crypto investors now have more places to deploy capital, a shift he believes makes a broad altcoin rally less likely than in earlier market cycles. Market analyst Ray Salmond raised targets of $5 for XRP and $1 for Dogecoin (DOGE) during an interview. Varma said he did not expect the broad altcoin season associated with those targets. “I personally don’t see it happening because there’s so much other demand,” Varma said. Varma described altcoin season as a period when at least 75% of a group of 100 altcoins outperform Bitcoin (BTC). He said that benchmark has not been met for 18 months to two years, including during recent Bitcoin gains.

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