The altcoin market, which is valued at over $879 billion on the time of this writing, is poised for its subsequent main leg up towards its earlier all-time excessive of almost $1.2 trillion, in response to crypto dealer and market analyst Michaël van de Poppe.
The Total3 market cap, which tracks the overall market capitalization of all the crypto token ecosystem, excluding Bitcoin (BTC) and Ether (ETH), has maintained important assist across the $784 billion degree, Van De Poppe stated.
The value of Total3 can also be inching again towards the 365-day transferring common, one other important assist degree, in response to TradingView information.
In October, the Total3 hit an all-time excessive of almost $1.2 trillion, however rapidly retraced after a historic market crash rocked digital property, inflicting the overall altcoin market cap to say no by about 33% in a single day.
Traders, merchants, and analysts try to gauge the potential begin of the following altseason, a interval of sustained altcoin worth appreciation, following a disappointing 2025 marked by modifications to crypto market dynamics and historic patterns.
Associated: Are altcoins coming again? Why ‘Bitcoin season’ has endurance in 2026
Traders waited patiently in 2025, however altseason by no means arrived
Traders sometimes rotated BTC good points into higher-risk altcoins through the latter elements of earlier crypto market cycles, which had been pushed, partly, by Bitcoin’s four-year cycle idea.
Nevertheless, after a disappointing 2025 for BTC, which noticed the yearly candle shut pink — a historic first for BTC in a post-halving yr, the 4-year cycle idea has been invalidated, in response to analysts.
The variety of cryptocurrencies has additionally grown considerably. There are over 29 million listed cash on CoinMarketCap, all competing for restricted investor capital and a focus.
The proliferation of altcoins has saturated the market, with too many tokens, stopping altseason from kicking off, in response to some crypto analysts.
Analysts additionally say the launch of crypto exchange-traded funds (ETFs) modified market dynamics by creating liquidity siloes for digital property with an ETF that saved funds locked and never freely flowing throughout the crypto ecosystem.
This prevented capital from any potential Bitcoin good points or different tokens from being rotated into altcoins and dampened the altseason section of the market cycle that seasoned crypto merchants had come to count on.
Journal: Altcoin season 2025 is sort of right here… however the guidelines have modified
