CZ’s mysterious “Alt” key post hints at Altcoin Season, with ASI at 81 indicating altcoin dominance. Top performers include PNUT (2,309%), HBAR (601%), and XLM (490%).
Changpeng Zhao (CZ), founder of Binance, recently shared a confusing post, “What key is available on Windows and Linux, but not on Mac?” with an image of the “Alt” key.
The hilarious post appears to be alluding to the emergence of Altcoin Season, a period in which altcoins outperform Bitcoin. Coincidentally, the Altcoin Season Index is currently at 81, firmly signaling altcoin dominance in the cryptocurrency market.
On this day last year, CZ also alluded to Altcoin Season, coinciding with Jim Cramer's bearish outlook on altcoins. Like 2023, CZ's timing and playful remarks drew widespread attention in the crypto community.
While previous altcoin seasons have relied on Bitcoin-to-altcoin volatility, this year has changed. According to CryptoQuant CEO Ki Young Ju, trading volumes between altcoins and stablecoins/fiat are now a better indicator of market direction. For example, XRP and Solana are approaching record highs despite low Bitcoin trading pairs, supported by increased stablecoin activity.
While altcoins have performed well, they require more capital to reach their previous high market valuations. Stablecoins have emerged as the main driving force behind the altcoin trend, reflecting a more mature market with stable trading patterns.
Altcoin Season Index Highlights
The Altcoin Season Index (ASI) measures market performance, with a score above 75 indicating an Altcoin Season. Here's the timeline:
Current Index: 81 (December 3, 2024)
Yesterday's index: 77
One week ago: 52
One month ago: 28
The rise in ASI reflects investors' growing preference for altcoins, with more than 75% of the top 100 altcoins outperforming Bitcoin over the past 90 days. Notably, the index is close to its yearly high of 83, which was recorded earlier today.
Top Performer: 90 Day Analysis
Performance of top 10 coins over 90 days, according to CoinMarketCap data.
