Crypto analyst Burak Kesmeci believes that the altcoin season may still be ongoing, based on the stable data from the Ethereum Coinbase Premium Index since August 5.

Ethereum Coinbase Premium Index as an Indicator

The Ethereum Coinbase Premium Index tracks the price difference of Ethereum on Coinbase compared to other exchanges, focusing on U.S. market sentiment. A positive premium often signals higher demand for Ethereum, which could lead to price increases and altcoin rallies. Kesmeci points out that the present stagnation in the index rather than a decline suggests the possibility of further altcoin gains.

Implications for Altcoin Investors

If Kesmeci's analysis holds true, altcoin investors could expect continued price appreciation for Ethereum and other altcoins. In past altcoin seasons, major coins like Ethereum led to increased interest and trading volumes in smaller altcoins, presenting a potential for mini-rallies.

Conclusion

The sideways trend in the Ethereum Coinbase Premium Index, according to Burak Kesmeci, suggests that altcoin season may still be ongoing. This presents an opportunity for investors to capitalize on future market movements.

The sideways trend in the Ethereum Coinbase Premium Index, according to Burak Kesmeci, hints that the altcoin season might still be ongoing, offering investors a chance to benefit from potential upcoming market shifts.