The crypto market is on the cusp of a significant transformation as the main target shifts from Bitcoin to altcoins. As identified by CryptoQuant CEO Ki Young Ju, the rising investor curiosity in stablecoins alerts the start of an altcoin season.
Is Altcoin Season About to Begin? Experts Explain
Currently, the crypto market is witnessing a major resurgence following the current downfall. While Bitcoin struggles to keep up its momentum, altcoins are seizing the chance to strengthen their place available in the market.
Despite Bitcoin’s market dominance stays sturdy at 60.59%, up 0.43%, the altcoin market is seeing a rally. Commenting on this phenomenon, CryptoQuant CEO Ki Young Ju said in his X post, “BTC Dominance no longer defines alt season.”
According to Young Ju, the standard measure of BTC dominance is now not a dependable indicator of the alt season. Instead, he prefers buying and selling quantity as a greater metric to determine the altcoin season.
Altcoin Rally: Trading Volume Exceeds Bitcoin’s by 2.7X
In the evaluation offered by the CryptoQuant CEO, Young Ju attributed the altcoin rally to the rising demand for stablecoins. He argued that the altcoin season is underway, pushed by unconventional market dynamics somewhat than the everyday rotation from Bitcoin.
Notably, the key driver of the altcoin season is the rising demand for stablecoins. Stablecoins are cryptocurrencies tied to the worth of steady property, reminiscent of conventional fiat currencies.
Driven by the rising reputation of stablecoins, the buying and selling quantity of altcoins has surged by 2.7 occasions greater than that of Bitcoin. The market knowledgeable said that this surge in buying and selling quantity may very well be one of the best indicator of an rising altcoin season.
However, Young Ju cautioned buyers to do sufficient analysis earlier than investing in altcoins, including that the altseason may very well be selective.
ETH Outperforms BTC: Is This the Sign of an Imminent Altcoin Season?
Currently, Ethereum, the highest altcoin, is displaying a greater efficiency than Bitcoin. As of press time, ETH is buying and selling at $2,756, with a weekly surge of two.05%. Meanwhile, Bitcoin, buying and selling at $98,2025, marks a weekly increase of 1.2%. Analyst Crypto Rover identifies this as Phase 2 of an altcoin season.
At the identical time, analyst CryptoGoos alerts the start of an altcoin rally reflecting on historic information. Taking BTC dominance as a key metric, Crypto Goos posits that BTC’s dominance may dip as indicated by historical past, paving the way in which for an altseason.
Is February an Altcoin Month?
Historically, the altseason begins in February. Experts like Merlijn The Trader, consider that “the altcoin super cycle begins in February.” History means that February offers rise to an altcoin market surge, triggering a parabolic rise.
In addition, market consultants reminiscent of Shib Spain and Max Brown have additionally echoed the sentiment that February will be a breakout month for altcoins. In an X publish, Max Brown posited, “Altseason starts in February.”
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of expertise in blockchain, web3, and fintech spheres. She has established herself as a educated and fascinating voice within the cryptocurrency and blockchain house. Her expertise as an Assistant Professor in English Language and Literature has additional added to her quest for crafting informative, well-researched, and accessible content material.
Disclaimer: The offered content material might embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.
