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That’s it… lovers of warm weather have been waiting for it, spring has finally arrived! Chance of the calendar, it seems that the crypto market follows the seasonal situation. After a (small) crypto “winter”, spring is coming with crypto prices in bloom! It is even said that an altcoin season could begin…
“Altcoin season” or “altcoin season”, what is it?
The price of altcoins has been in a frenzy in recent days. Has a new altcoin season started?
What is an “altcoin season”?
Crypto has its own lingo that is good to know if you like investing in Bitcoin and other coins. Have you ever heard of “alt season” or “altcoin season”?
This English expression translates into French as “altcoin season”. An altcoin characterizes any crypto other than bitcoin. For example, Ethereum, Cardano or even Solana are altcoins. What is “altcoin season”?
This expression designates a period when cryptos other than Bitcoin (or altcoins) are soaring. In fact, there is even a precise definition. Thus, we speak of “altcoin season” when for 90 days, 75% of the top 50 altcoins outperform Bitcoin.
(Clarification: stablecoins and asset-backed tokens (WBTC, stETH, cLINK,…) are excluded from the ranking of the “50 largest altcoins”.)
Are we in an “altcoin season”?
The price of altcoins has been in green for the past few days. It’s simple, all the crypto prices of the world’s top 30 are positive over the last 7 days. If we take the definition mentioned above, we must look at the situation over the last 90 days to identify an altcoin season. What about?
Below are the cryptocurrencies classified according to the performance of their price over the last 90 days (at the time of writing this article):
- Waves: 252%;
- Rune: 81%;
- Leo: 63%;
- Osmo: 52%;
- FTE: 45%;
- ZEC: 34%;
- FTT: 34%;
- LUNA: 31%;
- ATOM: 13%;
- XRP: 6%;
- XMR: 5%;
- BTC: 3%;
- FRAX: 1%.
Several things stand out from this ranking. First of all, Bitcoin is not the crypto that has shown the best performance over the last 90 days. Indeed, 11 altcoins do better than Bitcoin. On the other hand, the other top 50 altcoins are doing less well and have a negative price over this same period.
These figures therefore show that it’s not altcoin season. However, a dynamic is triggered on the side of altcoins. If this continues, it could well be that this season arrives quickly.
2 exploding altcoins
If it’s not yet altcoin season proper, it’s still bargain season. In recent days, some well-known and recognized altcoins in the top 20 have shone. Discover 2 cryptos that have been exploding for a few days.
Cardano (ADA)
Cardano is a crypto with very high potential but which has been disappointing on the side of its price for months. What if that was about to change? Indeed, the price of the Cardano crypto has jumped more than 25% over the last 7 days. This is the best performance of the world top 20. The jump in the price of Cardano has revitalized its capitalization. Currently, Cardano is the 7th crypto in the world, which puts it on the heels of the Ripple coin.
Cardano is a “ ethereum killer “. A latecomer to the game of DeFi and smart contracts, the ADA blockchain is catching up. The Cardano blockchain is very active at the moment and thus regularly sees new projects arriving. Moreover, recently, Cardano has also entered the field of metaverse and NFT.
Solana (SOL)
The Solana crypto made a lot of people happy last year. Indeed, it is one of the cryptos that have seen their share price jump more than 10,000% in 2021 ! The price of Solana has exploded and the crypto has established itself as a very serious competitor in the field of decentralized applications.
If the price of the Solana crypto had a slack at the beginning of the year, here is the Solana again at the forefront. Thus, the course of the Solana has increased by 20% over the last 7 days. The price of Solana was able to rally above $100 and is aiming for a next target around $150.
Don’t wait for altcoin season! Take the lead and bet on altcoins with high potential and better performance than Bitcoin!
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