Altcoins need revenue to survive, Ki Young Ju says

CryptoQuant founder and CEO Ki Young Ju said altcoins are not dead, but argued that tokens built only on narratives face a much harder market.

In a June 17 X thread, Ju said the period when projects could make money just by issuing a token is over. He wrote that “narrative-only altcoins are” dead and said investors should focus on projects with revenue, real users, and long-term business value.

Ju said narratives still matter in crypto, but they no longer carry weak projects on their own. He said some altcoins remain worth holding long term, but only when they connect to real businesses and fit broader financial trends.

He grouped the altcoins that still make sense to him into three areas. They include global internet companies with tokenized market layers, DeFi services with real revenue, and projects tied to larger financial shifts.

Altcoins tied to businesses get his backing

Ju named BNB from Binance and GRAM, previously known as TON, from Telegram as examples of tokens linked to large internet businesses. He said these networks have real revenue, long-term commitment, and strong execution.

In his view, these tokens can offer exposure to the ecosystems behind them. He also said future altcoin ETFs could bring more traditional finance liquidity into selected tokens, but only when those ecosystems keep growing.

Altcoins with revenue remain in focus

Ju also pointed to DeFi protocols that produce real revenue. He mentioned decentralized exchanges such as Hyperliquid as examples of crypto businesses that still generate solid income.

He said altcoins can still have upside when founders are credible, revenue is real, and governance respects token holders. As previously reported by crypto.news, Hyperliquid has drawn attention in 2026 because of its large perpetual futures volume, open interest, fee generation, and protocol revenue model.

Ju also tied surviving altcoins to stablecoins, tokenized stocks, real-world assets, and blockchain tools for AI agents. He said the market now has a clearer idea of what blockchain is useful for beyond speculation.

That view matches wider industry trends. As crypto.news reported earlier, tokenized real-world assets crossed $29 billion, while major institutions continued building tokenization infrastructure. Separately, crypto.news also noted that stablecoins, tokenization, AI tools, and better regulation remain key themes for on-chain finance.

Altcoins face a stricter market

Ju said the altcoin market has barely grown beyond its 2021 high, while Bitcoin has absorbed outside liquidity from traditional finance. He argued that past altcoin seasons stayed mostly inside crypto, with each cycle driven by a new crypto-native theme.

He said the next stage may favor projects connected to real business demand. He also pointed to AI agents as a possible growth area, saying blockchain infrastructure may become more useful as automated agents transact across the internet.

Recent coverage also shows why weaker altcoins face more pressure. Upbit moved to delist NKN/BTC in June, while the token was still about 99.5% below its all-time high.

Ju still warned that selection matters. He said “99.9% of altcoins should be rejected,” but added that rejecting most tokens does not mean every altcoin has no value.

He closed by saying the market is moving into a more regulated phase. In his view, crypto may become slower, but also bigger and safer as Wall Street becomes more involved.