'Altcoin season' index hits yearly high…up 17 points this month

JOON HYOUNG LEE

Summary

Blockchain Center said the altcoin season index reached a yearly high of 78 points.
It reported that CoinMarketCap's altcoin season index also recorded a yearly high of 66 points.
Cointelegraph reported that the total market capitalization of altcoins was $1.63 trillion, approaching last November's record high.

*Altcoin season index trend. Photo courtesy of Blockchain Center*

The altcoin season index reached a yearly high.

On the 11th, according to on-chain analysis firm Blockchain Center, the altcoin season index scored 78 out of 100 that day. It was 17 points higher than at the end of last month (61 points), marking the highest level so far this year.

Blockchain Center generally considers it an altcoin season when the altcoin season index exceeds 75 points. Altcoin season refers to a bull market in which most altcoins deliver higher returns than Bitcoin (BTC).

CoinMarketCap's altcoin season index was 66 on the day. It rose 12 points this month. CoinMarketCap's altcoin season index is also at a yearly high.

The total market capitalization of altcoins, excluding Bitcoin (BTC) and stablecoins, stood at $1.63 trillion (about 2,270 trillion won). Cointelegraph said it was "near this year's high" and reported that "the previous high was $1.64 trillion, recorded in November last year."

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