The Altcoin Season Index, a key metric for gauging cryptocurrency market performance, is under close investor scrutiny. This index aims to assess the performance of altcoins relative to Bitcoin, thereby revealing which asset class currently holds the advantage in the market.
According to data released by CoinMarketCap (CMC), the index currently stands at 48/100, indicating that the market remains within the realm of a "Bitcoin season." The Altcoin Season Index is calculated by analyzing the performance of the top 100 cryptocurrencies against Bitcoin over the past 90 days. If at least 75% of these assets outperform Bitcoin, the market is considered to have entered an "altcoin season"; otherwise, it is a "Bitcoin season." The current index level of 48 points suggests that altcoin momentum is strengthening, but a full-fledged altcoin season has not yet truly begun.
Observing the recent trend of the index reveals a clear upward trajectory. The index has shown a steady climb, moving from 44 points yesterday, 36 points last week, and 30 points last month.
Data indicates that over the past 90 days, despite a roughly 15.7% drop in Bitcoin's price, some altcoins have performed significantly better than Bitcoin. For instance, River (RIVER) achieved a 656% growth, Kite (KITE) rose by 145%, CC (CC) increased by 115%, Stable (STABLE) recorded an 88% gain, Morpho (MORPHO) climbed by 65%, LayerZero (ZRO) saw a 58% increase, and DEXE also achieved a notable 53% growth. These projects have all delivered impressive returns in the last three months, far surpassing Bitcoin's performance during the same period.
The leading altcoins that outperformed Bitcoin in the past 90 days include: River (RIVER), Kite (KITE), CC (CC), Stable (STABLE), Morpho (MORPHO), LayerZero (ZRO), and DEXE.