CoinMarketCap Altcoin Season Index Rises! What Does It Mean? Here Are the Details

With the new data, CoinMarketCap’s Altcoin Season Index has increased to 35. Index jumped 6 points from the previous day, suggesting that interest in altcoin market was slowly strengthening.

The Altcoin Season Index, which is the most prominent measure used to compare altcoines performance against Bitcoin in the crypto market, is an indicator of how well-performing altcomins perform against bitcoin. According to CoinMarketCap’s methodology, the index consists of comparison between the price performance of the top 100 cryptocurrencies by market capitalization (excluding stablecoins and wrapped coins) against Bitcoin over the last 90 days.

In this metric, an “altcoin season” is declared when 75% of the top 100 cryptocurrencies outperform Bitcoin in the 90-day period. Index score above 100 indicates that the market has entered an altcoin season, while lower values suggest that Bitcoin leads the industry in a “Bitcoine season” (the ‘Bitscotcoon season’).

Although the index rising to 35 is seen as a sign of’recovery in altcoins’, it remains well below the threshold required for an Altcoine season. But analysts point to that the index’s rise may indicate a short-term revival in risk appetite, but an extended and more sustained upward wave is needed for an altcoin season.

*This is not investment advice.

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