IOSG Research has released a study examining the potential for a new altcoin season, highlighting several challenges that may prevent a repeat of the widespread gains seen in 2021. The report identifies macroeconomic changes, an oversupply of tokens, unlocking pressures, and the dispersion of attention and liquidity as key factors hindering a similar market surge. Additionally, the lack of breakthrough applications is noted as a significant barrier to driving widespread interest and investment in altcoins.