The altcoin market capitalization is only some proportion factors away from its all-time excessive. Many analysts imagine it could actually attain a a lot greater degree in September.
Several causes point out that the altcoin season has entered its acceleration part, the place virtually any altcoin buy may deliver revenue. What are these indicators? Below are the important thing observations and explanations.
1. Altcoin Trading Volume Share Surpasses ETH and Bitcoin
Analyst Maartunn lately noticed that altcoin buying and selling quantity surged in September whereas BTC and ETH volumes declined. This uncommon sign confirms capital is flowing into altcoins.
Sponsored
Sponsored
Data from CryptoQuant additionally exhibits that in September, altcoin spot quantity share rose whereas ETH and BTC shares shrank. Specifically, altcoins accounted for 37.2%, whereas ETH and BTC made up 31.8% and 30.9%, respectively.
This shift typically indicators liquidity rotation from Bitcoin and large-cap cash to mid- and small-caps, confirming the acceleration of altseason.
“Altseason Hints? Ethereum spot volume is down over the past week, while altcoin volume is up,” Maartunn said.
The decline in ETH’s quantity share matches the well-known capital rotation cycle. Capital sometimes begins with Bitcoin’s rally, flows into ETH, and accelerates right into a broad altcoin surge.
Maartunn added that 8 out of 10 indicators in CryptoQuant’s bull/bear rating are actually bearish for Bitcoin.
Sponsored
Sponsored
Meanwhile, Bitcoin dominance has dropped alongside BTC’s value in September. With the altcoin market cap rising, this reinforces the view that capital favors altcoins.
2. Altcoin Season Index Hits 2025 High
The second signal is the Altcoin Season Index (ASI) from Blockchain Center, which hit 80 factors, its highest degree in 2025. This confirms the market is in altcoin season.
ASI measures the efficiency of the highest 50 cash (excluding stablecoins) in opposition to Bitcoin over the previous 90 days. With 75% of cash outperforming BTC, the index exhibits that altcoins dominate.
During the acceleration part, ASI can climb to 100 earlier than the cycle ends, just like earlier peaks. This displays a robust choice for high-risk altcoin investments.
Sponsored
Sponsored
Analyst Lau famous that the acceleration interval of altcoin season can final from 17 to 117 days.
“Historically, the average duration of alt season is 17 days, with a record of 117 days. Now we just have to wait and see how long the new cycle will last,” Lau said.
3. TOTAL3 Forms a Massive Bullish Triangle
The third signal comes from technical evaluation. TOTAL3 (the entire altcoin market cap excluding BTC and ETH) has been forming an enormous bullish triangle over the previous 4 years and is now on the verge of a breakout.
Charts present that TOTAL3 is testing its all-time month-to-month highs, with rising quantity and value urgent resistance. A breakout would formally mark a strong acceleration of altseason, just like 2019–2021 cycles.
Simon Dedic, founding father of MoonrockCapital, called this a very powerful structural sign proper now.
Sponsored
Sponsored
“Imagine calling for the top while TOTAL3 is on the verge of breaking out of a 4-year wedge, being on track for the highest monthly close in crypto history,” Simon Dedic said.
If TOTAL3 breaks above $1.16 trillion to set new highs, it’s going to enhance investor confidence in altcoins. With no historic resistance ranges to reference, the rally’s ceiling will rely fully on retail buyers’ FOMO momentum.
4. Exchanges Like Upbit, Coinbase, and Bithumb Ramp Up Listings
Rising liquidity in altcoins has fueled a wave of latest alternate listings in September.
- Upbit has added nearly one token per day (LINEA, PUMP, HOLO, OPEN, WLD, FLOCK, RED) to take care of its 50.6% market share in opposition to Bithumb (46%).
- Bithumb listed EUL, WLFI, LINEA, and PUMP.
- Coinbase listed KMNO, DOLO, LAYER, SPX, AWE, and WLFI.
These listings improve altcoin liquidity, appeal to hypothesis, and enhance buying and selling quantity. The suggestions loop between itemizing information and rising volumes accelerates the altcoin season even further.
