The cryptocurrency market is experiencing a dynamic phase, with the CMC Altcoin season index reaching 40/100, leaning more towards 'Bitcoin season' than Altcoin season. This index indicates that although some altcoins have shown strong growth, the overall market is still focused on Bitcoin. However, this does not diminish the appeal of altcoins, as many have achieved impressive growth in the past 90 days.
1. Performance of the top Altcoins in the past 90 days
The list of the highest performing coins in the past 90 days includes prominent names such as:
• GOAT: Up 869% - This massive growth makes GOAT the highest performing coin, outperforming the rest.
• SUI: Up 231% - Sui has attracted attention with strong growth, showing significant interest from investors due to the technology and potential of the new ecosystem.
• RAY: Up 205% - Raydium, with its DeFi ecosystem on Solana, continues to maintain its appeal and stable growth.
• POP CAT: Up 189% - Another meme coin on the list, showing that not only technology-based coins but also meme coins have great appeal.
• DOGE: Up 178% - The legendary meme coin, Dogecoin, continues to attract investors and has shown a strong recovery.
Additionally, several other altcoins like MEW (157%), FTM (135%), AERO (127%), and AAVE (97.9%) have also recorded significant growth, reflecting the dynamism in the altcoin segment, especially as these coins have strong applicability or communities.
2. Market trends: The recovery of Altcoin and signs of Altcoin season
Although the Altcoin season index remains low (40/100), many altcoins have shown resilience and good growth. This index reflects that the market is still leaning towards Bitcoin, but it cannot be denied that altcoins with strong foundations or strong community support still have the potential to grow during the Bitcoin season.
When considering the growth performance of the altcoins on the list, several key trends are clearly visible:
• The rise of meme coins and community tokens: DOGE, POP CAT, and several other meme coins like SHIB continue to show strong appeal from the community, despite high volatility and speculative risks.
• The growth momentum of DeFi platforms and decentralized applications: Coins like SUI, RAY, and AAVE attract investors due to their applicability in DeFi and dApps, indicating that projects with solid technological foundations and high applicability remain a priority for long-term investors.
• New ecosystems and potential: SUI is a prime example, with Move technology and parallel processing capabilities, attracting the interest of developers and investors looking for a potential platform to develop complex applications.
3. Advice for investors in the current phase
Although the performance of altcoins is very positive, investors still need to be cautious, especially when the market still leans towards Bitcoin season. Here are some notes for those interested in investing in altcoins:
• Understanding technology and application: Not all altcoins hold sustainable value. Projects with a strong technological foundation and high applicability, such as SUI, RAY, and AAVE, tend to perform better in the long run.
• Be cautious with meme coins: Although meme coins like DOGE and POP CAT can yield high short-term returns, they also carry significant risks due to high speculation and volatility. If investing in meme coins, ensure that you have the ability to manage risks.
• Monitoring the Altcoin season index: This index can be a useful tool to determine when to invest in altcoins or Bitcoin. When the index shifts to a higher level (around above 75), it may signal the real beginning of Altcoin season.
4. Conclusion: Altcoin in the landscape of Bitcoin season
The current cryptocurrency market still prioritizes Bitcoin, but that doesn't mean altcoins lack opportunities. On the contrary, many altcoins are proving their strength with high growth rates and development in the ecosystem. For investors, choosing the right projects, capturing trends, and being cautious in risk management are key to leveraging the opportunities that altcoins may offer in the context of a dominant Bitcoin season.
