The trading volume of altcoins is still below $10 billion

Data from CryptoQuant shows that the spot trading volume of altcoins remains sluggish, with an average daily trading volume of $3 billion to $5 billion, while in the fourth quarter of 2024 it is expected to be $8 billion to $12 billion. This indicates that altcoins are in the early stages of a rebound. Despite the low trading volume, market observers believe this is a precursor to significant growth in altcoins, suggesting that they have not yet reached peak momentum.

As noted by Blockchaincenter.net, the altcoin season index is currently at 24, which further confirms that the market is in a Bitcoin season, supporting this view. Historically, an index below 25 indicates Bitcoin's dominance, but this may be a positive sign for altcoins. When the index rises above 30-40, altcoins typically experience significant surges, primarily due to capital rotation from Bitcoin.

With trading volumes showing early signs of recovery and the altcoin season index indicating a market shift, investor optimism for an altcoin rebound is growing.