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CZ: The Altcoin Season Has Not Yet Started
Changpeng Zhao (CZ), co-founder of Binance, recently commented on the state of the crypto market, particularly the prospects of the "altcoin season" – a period when altcoins grow stronger than Bitcoin. While many investors are optimistic about the revival of altcoins, CZ believes this phase has not yet truly begun, despite the growth of certain cryptocurrencies.
Altcoin Index Has Not Yet Reached Threshold
In a discussion on the platform X, CZ responded to a question about when the altcoin season might emerge. He cited data from CoinMarketCap (CMC) to emphasize that the market has not yet reached this stage. Notably, CMC recently introduced the "Altcoin Season Index" to measure the performance of altcoins compared to Bitcoin over a 90-day period.
According to this index, the altcoin season is only confirmed when at least 75% of the top 100 altcoins perform better than Bitcoin. However, current data shows that only 14 altcoins in the top 100 meet this criterion, equivalent to 14%. Some notable names include Monero (XMR), Hyperliquid (HYPE), Pi Network (PI), Mantra (OM), Berachain (BERA), and the memecoin Trump (TRUMP).
Although the altcoin season has not officially occurred, the growth of certain projects remains a significant signal. CZ recommends that investors continue to monitor the market and indicators to assess trends in the near future.
#CryptoMarketWatch
Changpeng Zhao (CZ), co-founder of Binance, recently commented on the state of the crypto market, particularly the prospects of the "altcoin season" – a period when altcoins grow stronger than Bitcoin. While many investors are optimistic about the revival of altcoins, CZ believes this phase has not yet truly begun, despite the growth of certain cryptocurrencies.
Altcoin Index Has Not Yet Reached Threshold
In a discussion on the platform X, CZ responded to a question about when the altcoin season might emerge. He cited data from CoinMarketCap (CMC) to emphasize that the market has not yet reached this stage. Notably, CMC recently introduced the "Altcoin Season Index" to measure the performance of altcoins compared to Bitcoin over a 90-day period.
According to this index, the altcoin season is only confirmed when at least 75% of the top 100 altcoins perform better than Bitcoin. However, current data shows that only 14 altcoins in the top 100 meet this criterion, equivalent to 14%. Some notable names include Monero (XMR), Hyperliquid (HYPE), Pi Network (PI), Mantra (OM), Berachain (BERA), and the memecoin Trump (TRUMP).
Although the altcoin season has not officially occurred, the growth of certain projects remains a significant signal. CZ recommends that investors continue to monitor the market and indicators to assess trends in the near future.
#CryptoMarketWatch
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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