Why the Altcoin’s season is already in the starting lineup

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Many investors repeatedly draw on Bitcoin dominance to identify an Altcoin rally early on. In the last few weeks, many Altcoins have seen an upward trend, especially in the Defi sector. As a result, the BTC dominance has been affected and has currently fallen to its lowest level since mid-2019. Now, Bitcoin dominance is about 60.8% with a downward trend.

However, one must not forget that many projects are scams or simple money grabs. Many ICOs have only one goal — to collect money from naive investors and get rich. Accordingly, these projects will disappear in the future.
Besides, the real Bitcoin dominance is much higher, as several analysts have already noted. After all, tokens or coins, which have a relatively high market capitalization but hardly any trading volume, should not be included in the calculation of the total market capitalization. Therefore, real BTC dominance is strongly diluted at this point. How high the real Bitcoin dominance is, you can find out here.

There is no question, however, that the current hype about Decentralized Finance (Defi) has gained remarkable momentum, and there is no end in sight. Therefore, as long as Bitcoin and Ethereum do not move powerfully up or down in price, many Defi projects will probably continue to benefit from the Defi hype. One could already speak of an Altcoins Season — or rather Defi Season.

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