Is the Alt-Season upon us?
Since Bitcoin failed to surpass $100,000, altcoins seem to be taking over. Bitcoin’s dominance slipped from 57.45% to 54.5% in just one week. In terms of weekly performance, the 1.85% drop in BTC contrasts with the dynamics of altcoins, some of which are recording notable gains.
These figures could indicate that the famous “alt-season” is approaching. Especially since the main altcoins are showing signs of recovery. Over the last seven days, Ether has increased by 7.07%. XRP continues to stand out with an increase of 12.15%, while ADA crossed the symbolic one dollar mark, with an increase of 15.67% over the same period.
If this outperformance of altcoins continues, we could witness the start of a real alt-season. However, it is still too early to make any progress, as the consolidation of Bitcoin could only be a technical readjustment, without a real movement of capital towards altcoins.
One thing is certain, the major altcoins are showing themselves to be more and more vigorous, while the memecoins continue to surprise with their performances, echoing the explosive start of the year.
To go further: What is altcoin season?
Which altcoins to watch in December?
Among the major altcoins, Polkadot appears relatively discreet. The DOT token has certainly progressed by 109% since November 6, but remains far from the performance of the XRP (+219%) orADA (+201%). For his part, Polygon struggling to benefit from the upward momentum with a modest +72% over the same period. Still, growing interest in second-layer solutions may well reignite interest in MATIC in December.
Other layer 2 projects are also worth watching, including Arbitrage (ARB), Immutable (IMX), Optimism (OP) et Starknet (STRK)which benefit from the same favorable trend.
At the same time, we must not forget Shiba Inu (SHIB). While its historic rival gains traction, SHIB continues to stagnate, but remains expected to turn the corner. AI altcoins, after a period of moderate rise, could also take off again in December.
Moral of the story: When Bitcoin coughs, the alts dance… but sometimes they get tripped up!
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, we encourage readers to verify the facts on their own and consult a professional before making any decision based on this content.
