Expectations are rising among crypto traders for the onset of the altcoin season. However, for this to occur, the total market capitalization of TOTAL3 must rise by 16% from its current level.
Current State of the TOTAL3 Market
According to pseudonymous crypto trader Daan Crypto Trades, the euphoria phase in the market will begin once TOTAL3 — the combined market cap of all cryptocurrencies excluding Bitcoin and Ether — exceeds its all-time high of $1.13 trillion. At the time of publication, TOTAL3 is approximately $962.78 billion, having increased by 91.45% since the start of the year.
Reasons for Market Volatility
Some analysts believe that the overall volatility of the crypto market has increased due to traders adopting a more short-term approach compared to previous years. Syncracy Capital co-founder Daniel Cheung noted that many are actively monitoring charts and using leverage, which delays token breakouts.
Trader Shift Toward Altcoins
According to CoinMarketCap data, among the top 100 cryptocurrencies, Bitget Token (80.65%), Virtuals Protocol (42.30%), and Pudgy Penguins (31.63%) showed the highest weekly gains. With Bitcoin's dominance elevated to nearly 60%, traders are increasingly shifting focus to altcoins, believing them to offer a more optimal risk/reward ratio.
The TOTAL3 market continues to prepare for significant changes. However, the true onset of the altcoin boom will depend on TOTAL3 reaching its all-time high.
