CZ Hints at "Altcoin Season" as ASI Exceeds 75
Key Points:
Changpeng Zhao (CZ), Binance’s founder, recently shared a cryptic post, “Which key is available on Windows and Linux, but not on Mac?” accompanied by an image of the “Alt” key.
The playful post seems to hint at the arrival of Altcoin Season, a period where altcoins outperform Bitcoin. Coincidentally, the Altcoin Season Index currently stands at 81, firmly signalling altcoin dominance in the cryptocurrency market.
Fast Check
On this day last year, CZ also hinted at Altcoin Season, coinciding with Jim Cramer’s bearish outlook on altcoins. As in 2023, CZ’s timing and playful remarks have sparked widespread attention in the crypto community.
Although the previous Altcoin seasons depended on Bitcoin-to-altcoin movements, this year has changed. According to CryptoQuant CEO Ki Young Ju, trading volumes between altcoins and stablecoins/fiat now better indicate market direction. For example, XRP and Solana approach record highs despite low Bitcoin trading pairs, backed by increased stablecoin activity.
While altcoins perform well, they need more capital to reach previous market value highs. Stablecoins have emerged as key drivers of altcoin trends, reflecting a more mature market with stable trading patterns.
The Altcoin Season Index (ASI) measures market performance, with scores above 75 indicating an Altcoin Season. Here’s the progression:
The surge in the ASI reflects investors’ growing preference for altcoins, with over 75% of the top 100 altcoins outperforming Bitcoin in the past 90 days. Notably, the index has neared its yearly high of 83, recorded earlier today.
Read more: Bitcoin Bull Run Stalls Below $100K as Markets Rebalance
Top 10 Coins Performance Over 90 Days, as per CoinMarketCap data.
| Rank | Cryptocurrency | 90-Day Growth (%) | Latest Price (USD) |
|---|---|---|---|
| 1 | PNUT | 2,309.82% | $1.27 |
| 2 | HBAR (Hedera) | 601.16% | $0.34 |
| 3 | XLM (Stellar Lumens) | 490.24% | $0.53 |
| 4 | XRP (Ripple) | 369.56% | $0.84 |
| 5 | ALGO (Algorand) | 354.12% | $0.27 |
| 6 | SUI | 342.73% | $3.54 |
| 7 | DOGE (Dogecoin) | 331.96% | $0.42 |
| 8 | IOTA | 295.39% | $0.17 |
| 9 | ADA (Cardano) | 293.05% | $1.27 |
| 10 | ENA | 283.38% | $0.8284 |
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Santa Clara, California, 7th January 2025, Chainwire
Bitcoin Spot ETF inflows reached $987M on January 6, with Fidelity’s FBTC leading at $370M.…
Cardano price has exhibited a tremendous trajectory, with the ADA token soaring explosively. Experts predict…
Discover the top cryptos to buy today, including BlockDAG, Ethereum, Solana, and Cardano. Learn why…
In this article, we’ll dive into how you can still get in early on one…
GeForce RTX 50 Series deliver groundbreaking performance with 92 billion transistors, doubling the capabilities of…
This website uses cookies.
