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✨📚Analyst: altcoins are close to their "strongest rally" since 2017✏️✨🔸
Several altcoins are in the process of rallies of up to two and three digits, as the expansion of the US money supply and the TOTAL3 index data point to the early phases of an "altseason".
▶️Key points:✨
The market capitalization of altcoins (excluding ETH) gained 126 billion dollars in the second quarter, fueling speculation of an altseason.
The market capitalization of altcoins, excluding Ether ETH 2303 €, has added 126 billion dollars in the second quarter, generating excitement among analysts who have been waiting for an altseason. Crypto analyst Javon Marks noted a breakout that could rival the explosive bullish movement of 2017.
In a recent post on X, Marks highlighted a chart comparing the TOTAL3 index (total market capitalization of altcoins excluding Bitcoin BTC 92,992 € and Ethereum) with the US money supply, suggesting that altcoins could be on the brink of a significant rally.
An increase in TOTAL3 against the US money supply indicates that altcoins are gaining value in relation to the total liquidity in the US economy, reflecting greater investor interest and a capital influx into altcoins.