It’s still very much Ethereum’s time to shine — we haven’t fully entered Altcoin Season yet.
We’re in the crucial transition from Phase 2 (Ethereum’s dominance) into Phases 3 & 4, where large-cap alts and then the broader altcoin market typically take over. Ethereum has already outperformed Bitcoin for two straight quarters, a clear sign that Phase 2 remains in play.
When we look at TOTAL3/ETH — which measures altcoins (excluding $BTC & $ETH ) against Ethereum — the data shows ETH is still outperforming the broader altcoin market. Historically, this ratio bottoms exactly when Ethereum smashes through a new all-time high.
That moment often marks the handoff into the explosive altcoin phases that follow. Until then, all eyes should stay on Ethereum’s price action — because when that breakout happens, it can trigger the chain reaction that kicks off the real Altseason.