Altcoins Surge Past Bitcoin as Altcoin Season Signals Cross

Altcoin season may have started according to Glassnode's Altcoin Cycle Signal, which reached 81.25 on Monday, marking a level that indicates altcoins are outperforming Bitcoin.

The combined market cap of the top 250 cryptocurrencies against Bitcoin's has risen by 33% since August 19 and reached $1.19 trillion on Tuesday, the highest since late January.

NEAR Protocol (NEAR) led the charge with an 86% gain over seven days, followed closely by Bitcoin Cash (BCH) at 59%, Uniswap (UNI) at 53%, Zcash (ZEC) at 31%, Cardano (ADA) at 29%, and XRP at 24%, while Bitcoin itself gained just 12%.

CoinMarketCap's Altcoin Season Index has climbed to 54 out of 100, up from 33 a week ago, with CoinMarketCap calling 75 altcoin season when the index reaches 75 or dominance falls out of its range.