Coinbase's head of research explains why ‘dinosaur altcoins’ are staging a comeback

David Duong, head of research at Coinbase, believes that the latest crypto cycle has brought back a wave of legacy investors, fueling renewed interest in so-called "dinosaur" altcoins — older cryptocurrencies that were popular in previous bull runs.

Speaking with Rob Nelson on Roundtable, Duong explained that the return of investors from the 2020-2021 bull market is playing a significant role in the altcoin rally, despite the market still operating as the "Wild West."

“I think for this cycle, for example, a lot of people have been talking about the dinosaur altcoins, for example, that have caught a bid,” Duong said. “A big part of that has to do with some of the legacy investors who are playing in this space back in the last bull cycle… Maybe they aren’t as familiar with some of the newer themes that are currently being focused on by a lot of players.”

Duong pointed out that newer crypto natives are shifting toward different investment themes, such as AI, prediction markets, and stablecoins while returning investors tend to stick with what they know — familiar names like XRP, Solana, Litecoin, and Hedera.

XRP army

David Gokhshtein, founder of Gokhstein media weighed in on XRP’s potential. While some social media hype claims XRP could “flip Bitcoin,” Gokhshtein acknowledged its strong fundamentals and dedicated holder base.

“Congratulations to the XRP army that held for many years,” Gokhshtein said. “I mean, it goes back to when Jesus actually walked. People were holding XRP bags and they’re finally flying, so including myself. So congratulations.”

He also criticized the current meme coin frenzy, predicting that capital will rotate into established altcoins like XRP, Cardano (ADA), and Hedera (HBAR).

“People are just playing around with these memes that are coming off of pump fund, these so-called AI memes that are being put out there,” he noted. “They’re getting liquidated… I think that money is going to finally go into an XRP, into a Cardano, into an HBAR. Hedera is great. It’s a great protocol, and I think anybody who goes in, especially right now, they’ll reap the benefits of it six to eight months down the line.”