Recent data shows significant shifts in the cryptocurrency market, with high levels of capitalization and growing interest in altcoins.
Market Capitalization and Trading Volumes
The total market capitalization of cryptocurrencies is now $3.76 trillion, with a 24-hour trading volume exceeding $125 billion. Bitcoin's market share has dropped to 60.7%, a decline from recent highs.
Growing Interest in Altcoins
Ethereum's strength is seen as a sign that the next phase of the bull cycle is underway, with increasing attention turning toward altcoins. Traders are drawing comparisons to 2021, when similar conditions preceded an altseason.
Current Analysis and Data
According to CryptoQuant, altcoin deposits on Binance just reached their highest level in nearly a year, exceeding 45,000 in a week. The altseason index, while still below 75, has climbed from 26 to 37 over the past month, indicating growing investor appetite.
While a full altseason has not yet arrived, the current signals and the rise of altcoin capitalization suggest potential positive shifts in the market.
