Altcoin Market Adds $371B as 87% of Altcoins Break Above Moving Averages

The altcoin market has seen significant growth in recent months, adding over $371 billion to its total capitalization since June. According to CryptoQuant analyst Darkfost, this represents a gain of around 45% overall.

One key indicator of the altcoin market's health is the percentage of Binance-listed altcoins trading above their 200-day moving averages. As of September 27, this figure stood at 87%, up from just 13% in June.

This sharp reversal has led Darkfost to warn that the market may be approaching a more fragile stage. He notes that the rapid advance is reminiscent of a period of 'euphoria,' and that warning signs are beginning to appear.