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While bitcoin has been climbing swiftly, a variety of alternative crypto assets have outpaced it, prompting speculation that altcoin season might be near.
Speculation Swirls Around ‘Altcoin Season’
This week, bitcoin repeatedly shattered its own record highs, even reaching new peaks multiple times today. While bitcoin has shown significant value gains in U.S. dollars, some alternative digital currencies have experienced even steeper climbs. For example, cronos (CRO) skyrocketed 33% in the past day, and dogecoin (DOGE) gained 20% over the last 24 hours. Numerous digital assets are enjoying double-digit growth, boosting the entire crypto economy to a valuation of $2.86 trillion, up by over 3% today.
On the social media platform X, an account named ‘Mags’ shared with its 93,800 followers, “Altcoins – it’s going to be the greatest altcoin season of all time.” Another X account dubbed ‘Sensei’ told its 60,300 followers, “Altcoin season will begin from November to March 2025.” Another user proclaimed, “Altcoin season is here!” But is it really? That’s the question everyone’s asking. According to the Altcoin Season Index (ASI) hosted on blockchaincenter.net, “it is not Altcoin Season.”
As of Monday, just past 2 p.m. Eastern, BTC had shot beyond the $86K mark. At the same time, the ASI has a current score of 37. For it to be officially “altcoin season,” the ASI score needs to hit 75 or higher—which would mean 75% of the top 50 coins outperformed bitcoin over the past 90 days. It still has 38 percentage points to go in order to flip bitcoin season over to the coveted altcoin season. Still, the biggest leader of the bunch during the past season or 90 days is sui (SUI).
SUI has gained more than 245% during the recent season and right behind it is dogecoin (DOGE) with a 215% gain. While blockchaincenter.net’s ASI is notching up slowly, in the crazy world of crypto this all could change in a split second. With bitcoin’s rally setting new records and altcoins delivering even steeper returns, the excitement around a potential altcoin season is mounting. Despite the ASI still favoring bitcoin, speculation and notable gains in coins like DOGE and SUI signal that the market’s momentum may be shifting, hinting at a possible change in the crypto economy’s dynamics.