With the possibility of the approval of Exchange-Traded Funds (ETFs) for XRP or LTC or SOL by the U.S. Securities and Exchange Commission (SEC), many believe that the famous 'altcoin season' is about to happen. At the same time, others insist that the market shows no signs of an imminent period of rising altcoin prices.

The altcoin season is elusive, data and the Chief Operating Officer of MEXC are skeptical.

On Thursday, ahead of the weekend, the cryptocurrency economy sits at $3.23 trillion, up 2.38% over the last day. The top gainers of the day include IP, MKR, and PYTH. However, while many alternative digital assets have made gains recently, the famous altcoin season is not as close as many think. Data suggests this, despite claims from some influencers that it will happen soon.