Altcoin Market Cap Still 23% Below All-Time Highs
Altcoin market cap remains 23% below 2021 highs, excluding stablecoins. Altseason may not have started yet.
- Altcoin MCap is 23% below 2021 ATH if stablecoins are excluded.
- Many mistook the chart and believed Altseason had started.
- Real Altseason indicators are still missing from the market.
Despite growing excitement in the crypto community, the Altcoin Market Cap has not yet reached a new all-time high (ATH). If you exclude stablecoins like USDT and USDC, altcoins are still 23% below their 2021 peak.
Many traders and influencers jumped the gun, thinking that the recent price movements marked the beginning of a new Altseason. However, this assumption appears to be based on a misinterpretation of market cap charts that include stablecoins. This inclusion gives a distorted view of real altcoin momentum.
Stablecoins Distort the Bigger Picture
Stablecoins are often lumped into total market cap charts, which can make the numbers look more bullish than they really are. But stablecoins don’t move the way altcoins do. They’re designed to stay pegged to fiat currencies like the U.S. dollar, so their inclusion skews the true growth of speculative alt assets.
When you strip stablecoins out of the equation, the actual Altcoin Market Cap tells a different story—one that suggests the market is still in a recovery phase rather than a breakout rally.
Altseason Is More Than Just a Chart
A true Altseason isn’t just about rising charts—it’s when altcoins significantly outperform Bitcoin, often seeing massive gains in a short time. So far, that hasn’t happened. Bitcoin dominance remains high, and many top altcoins are still struggling to break their previous highs.
This suggests that while optimism is returning to the crypto space, it’s too early to call this an Altseason. Smart investors will wait for stronger signals—such as Bitcoin losing dominance and money flowing rapidly into mid and low-cap altcoins—before celebrating.
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