Altcoins Dominate December 2024: Season Index at Yearly High
- Altcoin Season Index hits 87, showing altcoins outperforming Bitcoin.
- $550B resistance remains a major hurdle for further growth in the altcoin market cap.
- Analyst highlights reset funding rates and advises accumulation of high-potential assets.
The crypto market has shifted gears with altcoins in the spotlight as the Altcoin Season Index surge continues. According to CoinMarketCap, the index has jumped to 66, highlighting strong altcoin performance compared to Bitcoin.
This metric shows the dominance of altcoins, with most of the top 100 cryptocurrencies (excluding stablecoins and wrapped tokens) beating Bitcoin’s performance. The Altcoin Season Index surge has been evident since late September, peaking at 87 on December 4, 2024—its highest level this year. This trend underscores the rising momentum in the altcoin market, now approaching a capitalization of $1 trillion.
Analyst’s Take on Altcoin Season
Crypto analyst MikybullCrypto posted on X about the importance of the current Altcoin Season. He highlighted the strong momentum in the market and noted that altcoin funding rates have fully reset.
The post Altcoins Dominate December 2024: Season Index at Yearly High appeared first on Coin Edition.
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Altcoins Dominate December 2024: Season Index at Yearly High
- Altcoin Season Index hits 87, showing altcoins outperforming Bitcoin.
- $550B resistance remains a major hurdle for further growth in the altcoin market cap.
- Analyst highlights reset funding rates and advises accumulation of high-potential assets.
The crypto market has shifted gears with altcoins in the spotlight as the Altcoin Season Index surge continues. According to CoinMarketCap, the index has jumped to 66, highlighting strong altcoin performance compared to Bitcoin.
This metric shows the dominance of altcoins, with most of the top 100 cryptocurrencies (excluding stablecoins and wrapped tokens) beating Bitcoin’s performance. The Altcoin Season Index surge has been evident since late September, peaking at 87 on December 4, 2024—its highest level this year. This trend underscores the rising momentum in the altcoin market, now approaching a capitalization of $1 trillion.
Analyst’s Take on Altcoin Season
Crypto analyst MikybullCrypto posted on X about the importance of the current Altcoin Season. He highlighted the strong momentum in the market and noted that altcoin funding rates have fully reset.
The post Altcoins Dominate December 2024: Season Index at Yearly High appeared first on Coin Edition.
Read More