币界网报道：Altcoins See 820% Realized Cap Growth as Investors Shift Focus to Utility Tokens The altcoin market has experienced an 820% surge in realized capitalization over the past five years, signaling a growing investor preference for tokens with tangible utility over speculative assets, according to blockchain analytics firm Glassnode. While Bitcoin and Ethereum still dominate in absolute terms, altcoins now account for 20% of the total crypto realized cap, up from just 5% in 2018. The growth has been particularly strong in sectors like decentralized finance (DeFi), where protocols offering lending, trading, and yield farming services have attracted significant capital inflows. Analysts note that the trend reflects maturing investor behavior, with more participants conducting fundamental analysis of project teams, tokenomics, and real-world use cases before allocating funds. Layer 1 platforms such as Solana and Avalanche have benefited from this shift, along with interoperability projects like Polkadot that enable cross-chain functionality. However, the report cautions that despite improved fundamentals, altcoins remain highly volatile compared to blue-chip cryptocurrencies, with many still trading well below their all-time highs from the 2021 bull market. The data suggests the market is gradually moving away from pure speculation toward valuing blockchain networks based on actual adoption metrics and technological innovation.