Still Waiting For An Altcoin Season? These Metrics Show Why It Might Never Happen

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	108,869,389,433	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

108,869,389,433

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-7.82	-3.25%	232.80	232.82	232.83

Price Change

Price Change %

Current Price

Bid Price

Offer

-7.82

-3.25%

232.80

232.82

232.83

High Price	Low Price	Open Price	Prev. Close	52 Week Range
242.54	231.63	237.57	240.62	90.68 - 295.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

242.54

231.63

237.57

240.62

90.68 - 295.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:37:04	8.60	232.67	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:37:04

8.60

232.67

USD

Price x Volume	Volume	Base Symbol	Related Pairs
177,576,783.00	751,004.51	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

177,576,783.00

751,004.51

Still Waiting For An Altcoin Season? These Metrics Show Why It Might Never Happen

25/01/2025 10:00pm

NEWSBTC

Bitcoin has yet to relinquish its dominance in this market cycle, leaving many investors still holding onto hopes for the arrival of an altcoin season. Still, there remains a possibility that an altcoin rally might never come to fruition this season, given the recent market trends this cycle. Crypto analyst Ali Martinez echoed this perspective in a recent post on X, claiming that an altcoin season may never return. His observation sheds light on the change in market dynamics and the significant shifts that have occurred since previous alt seasons. Why AltSeason Might Never Happen An altcoin season is defined by a period of rapid price surges across a wide range of altcoins. Furthermore, an altcoin season is characterized by investors cashing out their Bitcoin profits and pouring them into altcoins. This period is always accompanied by social media hype and FOMO from crypto investors as they rush in to get in on the action. Related Reading: Is Altcoin Season Here Already? VanEck Answers As Bitcoin Price Struggles Below $100,000 However, current market conditions have seen the crypto industry grow from its early days into a new market with a close relationship with investors in the traditional finance sector. Additionally, the altcoin market has expanded dramatically since the last major bull run in 2021, and you could argue that it has become somewhat oversaturated. Martinez highlighted a startling statistic: over 36.4 million altcoins are now in circulation. This is a dramatic increase compared to fewer than 3,000 altcoins during the 2017-2018 altcoin season and an even smaller pool of fewer than 500 in the 2013-2014 bull market cycle. The sheer scale of this supply explosion has fundamentally altered the cryptocurrency landscape, diluting attention and capital among an overwhelming number of assets. This oversaturation means that achieving widespread price surges across altcoins has become a far more challenging proposition than in previous market cycles. Furthermore, many of these altcoins have unclear use cases or poor fundamentals and only divert attention from specific altcoins with strong utility. Could The Era Of Altcoin Seasons Be Over? The concept of an altcoin season may be a relic of a less crowded market. Ethereum, the largest altcoin, has largely failed to perform up to expectations this cycle. Known as the primary driver of past altcoin seasons, Ethereum has struggled to gain momentum for over a year, even as other altcoins like Solana, XRP, Cardano, and Dogecoin continue to push to multi-year highs. Related Reading: Bitcoin Price Dominance And Altcoin Season: What The Sudden Volatility Means For The Market If Ethereum, with its established dominance and utility, cannot deliver, it raises serious questions about the potential of other altcoins to rally. Instead, individual altcoins with strong fundamentals or unique propositions could continue to thrive while the rest of the market remains stagnant. At the time of writing, Coinmarketcap’s dominance data shows that Bitcoin commands 57.9% of the total crypto market cap, increasing by 0.69% in the past 24 hours. Meanwhile, Ethereum is steadily losing ground, with its dominance dropping by 1.07% over the same period, now accounting for just 11.1% of the overall market. Featured image from iStock, chart from Tradingview.com

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SOLUSD Solana