Anonymous cryptocurrency trader Daan Crypto Trades stated in a post on X on December 28 that once TOTAL3 (the total market cap of all cryptocurrencies excluding Bitcoin and Ethereum) surpasses the historical peak of $1.13 trillion in January 2021 and enters the price discovery phase, the market will enter the 'excitement' or 'frenzy' phase.

According to data from TradingView, as of the time of writing, TOTAL3 is currently at $962.78 billion, having grown approximately 91.45% since January 1. Daan said, 'As long as its trading price is between about $840 billion and about $1.1 trillion, I believe the market will be volatile.' (Cointelegraph)