The researcher pointed to the popularity of meme coins and Solana-based projects as evidence of altseason in progress. However, Ki Young Ju partially aligned with this view.

Not everyone agrees with CryptoQuant CEO’s analysis. CryptoVizArt, a senior analyst and researcher at Glassnode, believes altseason has already begun. He highlighted Solana’s explosive growth in active addresses, which now number 18.6 million per day—nearly 40X that of Ethereum.