CEO of Cryptoctive, says the much awaited Altcoin season has begun, but it is defined by the trading volume-not shifting capital from-not shifting from Altcoins to Altcoins.
According to the Young Zoo, the CEO and the founder of the Cryptoctive, the Altcoin season has officially begun. However, it is not because the capital has moved from bitcoin to ultcoin. Instead, StableCoin holders are now primary drivers of interest in altcoins. Zoo told The Altcoin CEX trading volume is currently 2.7 times compared to bitcoin, saying that “BTC dominance no longer defines the Alt season – trading volumes.”
Traditional approaches say that the weather of Altcoin begins when the dominance of bitcoin falls, resulting in the capital altcoins. CMC Altcoin season index Tracks whether the market is in the season of altcoin or bitcoin by comparing the performance of the top 100 cryptocurrency in the last 90 days. When 75% or more of these altcoins perform better than bitcoin, the market is considered in the Altcoin season. However, the CMC stands at 29 as at the time of index writing, showing that we are still very high in bitcoin season.
The CMC Altcoin season index hit 64 in December 2024, whispering about the Lump Altcoin season. In addition, the so -called “January effect” usually leads to an increase in altcoin activity. However, the index has failed to grow great since the beginning of January, which remains above 40 and has now fallen to 29.
Altcoin’s delays may result in increasing number of new launch in the market. Bobby Ong, co-founder of Koingco, noted More than 600,000 tokens were created in January alone, diluting liquidity in the growing pools of assets. This saturation was affecting altcoin performance, as investors were actively transferring their capital among a wide range of new tokens.
It is said, the wait is over, at least according to Young Zoo, although he warns that it is a “very selective Alt season”, which urges investors to dye.
