Why didn't we get an alt season this cycle? Well, let's see... Over the past day, there were 94,403 tokens created Over the past week, 686,888 Over the past month, 4,438,293 In fact, in February 2026, more than 190,000 new tokens were created in a single day. Prior to Sept 2024, the average number of tokens deployed was ~2000 Today, that number sits around 90,000 Over 37 million tokens created to date There just isn't enough liquidity or mindshare to support all of this. The market is healing, but its got a long way to go.