The ongoing altcoin season, also known as "#altseason ," marks a period of significant price rallies among cryptocurrencies other than @Bitcoin . This shift is driven by declining Bitcoin dominance, which has fallen below critical levels (currently around 56.1%), signaling that capital is moving toward altcoins. Notably, Layer 1 altcoins like $XRP , $ADA , and $SOL have seen sharp gains recently, fueled by increased investor interest and expectations of a pro-crypto regulatory environment following the U.S. elections.
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Market indicators, such as a surge in the TOTAL3 market cap (excluding @Bitcoin and @Ethereum ), which rose by 35% this month, further confirm the trend. The overall crypto market has seen a spike in spot trading volumes for altcoins, highlighting growing demand. Analysts predict that as Bitcoin's dominance continues to consolidate, altcoins may experience further upward momentum into early 2025, driven by improved sentiment and possible regulatory developments.
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