Weiss Crypto, a cryptocurrency analysis agency, reports a significant lag in TOTAL3, an indicator of all altcoin capitalizations excluding Bitcoin and Ethereum, in the current cycle.
Understanding TOTAL3
TOTAL3, which shows the aggregated capitalization of all cryptocurrencies excluding Bitcoin and Ethereum, is significantly lagging behind previous bullish cycles. Currently, it is only up 150%, while Bitcoin has set a new series of price records in this run.
Factors Influencing TOTAL3
The underperformance of TOTAL3 may be attributed to several factors. First, significant liquidity was directed towards Bitcoin and Ethereum through ETFs in the U.S., which did not contribute to the growth of altcoin capitalization. Additionally, poor performance of Ethereum has negatively affected the entire altcoin market. However, the peak may not have been reached yet.
Future Predictions
Many macro models suggest that the highest point of this bull run may be reached in Q4 of 2025 or Q1 of 2026. The performance of TOTAL3 may see a boost from large-cap altcoins and the largest stablecoins, such as Cardano and USDC, especially with the adoption of the GENIUS Act in the U.S.
In conclusion, the current lag of TOTAL3 compared to previous bullish cycles raises interest and may indicate potential changes in the altcoin space.
