According to the Altcoin Season Index, September 2021 is officially altcoin month.
As we move into September 2021, let’s take another look at the trusty Altcoin Season Index for a visual update on the shifting landscape of crypto markets.
You can see the tide is turning fast and according to the index…
...it’s now officially altcoin month!
If you’re an altcoin bagholder, this has certainly been a long time coming.
But it’s time to dust off the good silverware and put that Moët & Chandon on ice because it looks like the wait is finally over.
The Altcoin Season Index
Based on this index, you can find out whether the market is favouring Bitcoin or altcoins.
Whenever 75% of the Top 50 coins performed better over the past season (90 days), the index deems it to be altseason.
Altseason is a shortened form of 'Altcoin Season', when more money begins to flow into altcoins than into Bitcoin.
The Altcoin Season Index is a powerful tool that crypto traders can use to decide whether or not to move their funds in or out of Bitcoin.
Taking a look at the screenshots shared at the top of this blog, you can see that the tide is turning fast.
While last month may have been Bitcoin Season, it’s not going to be long until we’re officially in altcoin season once more.
Altcoins that are pumping into September
Let’s now take a look at the top 50 altcoin performers over the last 90 day season.
You can see that AXS, the governance token for the Axie Infinity game itself, is leading the charge for altcoins.
Play to earn gamers continue to discover that they’re actually able to make a lot of money playing Axie Infintiy and the AXS token’s popularity continues to strengthen as a result.
Other than Axie Infinity, you can see the Terra (LUNA) and Solana (SOL) have had excellent seasons themselves.
On the other hand, the fact that Dogecoin (DOGE) has managed to drop in the midst of a market-wide altcoin pump, is quite telling.
Altcoin season is coming
Ultimately, you can take away the fact that Altcoin season is coming.
The shortest term metic of altcoin month has already turned in favour of alts and we all know how important trends are in crypto markets.
Now it’s up to you to execute your trading strategy appropriately.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment and share your thoughts on the Altcoin Season Index starting to swing, within the comments section below? All comments that add something to the discussion will be upvoted.
This Altcoin Season Index blog is exclusive to leofinance.io.