Bitwise CIO says the era of rotational altcoin pumps is over

An 'altseason' where all cryptocurrencies rally in unison is unlikely to happen again, according to Matt Hougan, Chief Investment Officer (CIO) at Bitwise. Speaking on the Paul Barron Network YouTube channel, Hougan stated that the future market will likely be driven by projects with genuine use cases and solid business fundamentals, Cointelegraph reported. He explained that the previous cycle, where capital rotated from Bitcoin to Ethereum and then to DeFi and NFTs, lifting most assets together, is unlikely to be repeated.