Top altcoins are overvalued now and it is impossible to earn big profits on them. That is why many people prefer to invest in new and prospective projects. But a lot depends on the tools that project offer. It must be useful like this https://twitter.com/InpulseX_io/status/1511365325950005252
During the rise of the market the popularity of cryptocurrency is high that is why a lot of new projects appear. But during the fall of the market the number of new projects is not so high.
In spite of the fall of the market the adoption of cryptocurrency growth and more and more tools with crypto assets appear.