Altcoin season, commonly known as “altseason,” has arrived in the crypto market, according to various industry indicators.
This phenomenon is manifested when 75% of the top 50 crypto coins outperform Bitcoin, the leading cryptocurrency, over a 90-day period. Today, this scenario is playing out, indicating that investors are diversifying their portfolios towards alternatives beyond the queen of cryptocurrencies.
Overall, altseason is a crucial period for the crypto ecosystem, as it attracts investors looking for growth opportunities in coins with technological and adoption potential, reflecting the diversity and innovation in the sector and also the confidence of investors in projects that go beyond Bitcoin.
At the time of writing this article, the Total altcoin capitalization has reached $1,6 trillion, according to data from CoinMarketCap, representing a significant increase compared to pre-altseason levels.
The 5 Altcoins That Are Outperforming Bitcoin This Altseason
In the current altseason, five altcoins have stood out for their outperformance against Bitcoin. These cryptocurrencies have not only shown significant growth in value over the past 3 months, but have also demonstrated strong technological and adoption potential.
According to the Blockchain Center platform, Hedera leads the altseason season, with a 615% return in the last 90 daysHedera is a distributed network platform that uses a hashgraph architecture, making it faster and more secure than traditional blockchains. HBAR, its native cryptocurrency, has seen significant growth in recent months, driven by its ability to process transactions at a speed of up to 10.000 TPS. In addition to this, Hedera has signed agreements with major companies, which has increased its adoption in key areas such as finance and digital identity.
Stellar is in second place in this classification, with a 495% return in the last quarterStellar is a decentralized payments network designed to facilitate fast and inexpensive transfers of value. XLM, the network’s native cryptocurrency, has gained traction in the market thanks to its focus on financial inclusion and interoperability.
In third place is XRP, from Ripple, which has gained traction amid the favorable political landscape developing in the United States for cryptocurrencies and digital assets. According to the platform's data, XRP has had a performance over 390% in the last 90 days.
SUI, the native cryptocurrency of the Sui Network, a next-generation blockchain that has stood out for its focus on scalability and efficiency, ranks fourth, with a 385% yieldSUI has seen meteoric growth in the market, driven by its growing community of developers and DeFi projects.
Lastly, SOMETHING, native to the Algorand blockchain platform, had a 372% return in the last 3 months, which has given it the fifth place among the altcoins with the highest performance than Bitcoin in this altcoin season. The ALGO cryptocurrency has shown a solid performance in the altseason, driven by the adoption of its technology in various sectors, including finance, gaming, and NFTs. In addition, Algorand has signed agreements with important institutions and has launched initiatives to foster innovation and development in its blockchain ecosystem.
Source: Blockchain center
On the other hand, CoinMarketCap lists the memecoin Peanut the Squirrel (PNUT) e Iota (IOTA) among the top altcoins that are performing better than Bitcoin, with quarterly growth of 2.238% and 385%, respectively. However, these two altcoins are not among the top 50 cryptocurrencies in the market by market capitalization.
The importance of Altseason in the cryptocurrency ecosystem
Altseason is not just a period of financial growth for altcoins; it is an indicator of the maturity and diversity of the crypto ecosystem at large. During this time, altcoins have the opportunity to prove their value and potential, which can result in increased adoption and development of new technologies. Altseason also reflects investor confidence in the sector, contributing to the long-term stability and growth of the cryptocurrency market.
For investors, altseason also represents an opportunity to diversify their portfolios and explore projects with high-yield potential. However, it should be noted that the crypto market is volatile and altcoins can experience significant fluctuations in value. Therefore, it is crucial to conduct thorough research and consider the risks before investing.
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
