At 8 a.m. Eastern Time on Tuesday, Dec. 3, blockchaincenter.net’s Altcoin Season Index (ASI) lit up with a score of 85 out of 100, signaling the arrival of the much-anticipated ‘Altcoin Season.’ According to the site’s criteria, it qualifies as altcoin season when 75% of the top 50 coins outperform bitcoin (BTC) over the past 90 days.
The last time the Altcoin Season signal lit up was in March, but it was short-lived. A more extended run came in mid-Jan. 2024, stretching through the end of the month. Standout performers during the latest season included HBAR soaring over 675%, XLM climbing 529.5%, XRP leaping 427.9%, and ALGO rising 403.5%.
Other big gainers include SUI, DOGE, ADA, OM, VET, FTM, PEPE, CRO, BONK, DOT, TAO, and LINK. About 29 cryptocurrencies logged triple-digit gains during this period, far outpacing BTC’s performance. Another dozen coins managed double-digit increases that still exceeded bitcoin’s growth. Meanwhile, social media buzz around the ASI signal has flooded platforms like X, with countless posts fueling the excitement.
The X account Mister Crypto wrote:
It’s altcoin season now. Altcoins are exploding. This is the time where we get rich af.
Others shared more detailed thoughts on the upcoming Altcoin Season. Ki Young Ju, founder and CEO of Cryptoquant, told his 380,400 followers on X, “This alt season won’t be what you expected.” The Cryptoquant executive continued, “It’s going to be weird and challenging. Only a chosen few will win the game. Market sentiment is good, but there isn’t much fresh liquidity.”
He further added:
Bitcoin is drifting away from the crypto ecosystem. Bitcoin has built its own paper-based Layer 2 ecosystem through ETFs, MSTR, funds, and more. In this paper-based L2 Bitcoin, bridging to other altcoins is impossible. Altcoins used to move together based on their correlation with BTC, but that pattern has now broken. Only a few are starting to show independent trends as they attract new liquidity.
The Altcoin Season Index’s signal highlights the evolving dynamics in the crypto market and current bull run, with altcoins asserting greater independence from bitcoin’s movements. This shift suggests a maturing ecosystem where distinct use cases and unique liquidity streams drive individual token performance. As altcoins emerge from bitcoin’s shadow, they could carve out a more defined role in shaping the market’s future trajectory.
Investors, traders, and analysts alike are closely watching how this season unfolds, particularly given the challenges noted by industry voices like Cryptoquant’s CEO. The combination of fragmented liquidity and selective gains underscores the need for strategic approaches in navigating this “weird and challenging” season. For participants, the current environment could redefine what it means to win in the cryptocurrency arena.
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