Here’s what the “Altseason Indicator” from the on-chain analytics firm Glassnode says regarding if an Altcoin season is currently going on or not.
What Altseason Indicator Says Regarding The Altcoin Season
In its latest weekly report, Glassnode has discussed what the Altcoin season status for the cryptocurrency market has looked like recently. To check whether the “altseason” is on, the analytics firm has devised its Altseason Indicator.
This metric judges if the investors are in a risk-on mode based on how capital rotations are occurring in the sector. There are two conditions the indicator checks for.
First, the Altseason Indicator looks at the capital netflows involving the three major asset classes in the sector: Bitcoin (BTC), Ethereum (ETH), and stablecoins.
For the former two assets, netflows are gauged using their “realized caps.” The realized cap is a capitalization model that calculates any asset’s total valuation by assuming that the real value o
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