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Interesting. I don't pay any attention to the altcoins. Are people just yield chasing as conventional investments lag?
Just the regular crypto traders with broken paradigms who believe because bitcoin rallied all the other coins must go up as well. So they put on a ton of leverage and try to chase gains in the altcoins. It's the most fiat, highest time preference thing one can do but it some ways I don't blame them as pushing further and further out the risk curve is an imbedded incentive of the current system.
I am not a fan of Pomp but I did listen to his episode with Lyn and she talked about this as well.
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