Altcoins are outperforming Bitcoin on Thursday, with Ether up 11% and has broken past $2,000, while other cryptocurrencies like Sui and Bitcoin Cash have seen double-digit gains.
Despite growing social media buzz about "altseason," Bitcoin's dominance remains high at 64%, and analysts warn that increased mentions of altcoins could be a "red flag" for investors.
Market uncertainty continues due to Donald Trump's tariff policies, making it difficult to compare the current crypto rally to past cycles despite the current widespread gains.
Both Dogecoin and Cardano have risen by more than 8%, with Sui rallying 13.8% and Bitcoin Cash trading 14.3% higher.
The top performer among the 100 biggest coins by market cap is Pudgy Penguins—up 27% since this time yesterday.
Thursday's gains have led to feverish speculation on X that "alt season" is coming, where altcoins outperform BTC.
But such talk might be a little premature—especially considering that Bitcoin's dominance, referring to its total share of the crypto market, remains stubbornly high at 64%.
Earlier this year, CryptoQuant analyst Ki Young Ju had warned that "the era of everything pumping is over," and "most altcoins won't make it."
He argued altcoins that are currently the subject of ETF filings—think XRP, Solana, Cardano and Litecoin—were most likely to outperform in 2025, along with "sustainable attention drivers" and "revenue-generating projects."
Santiment research recently revealed that mentions of "altcoins" and "altseason" on social media are growing on social media, and that could amount to a "red flag."
"History has actually shown that the most opportune entries into any sort of altcoin cycle are when the crowd is showing complete disinterest in altcoins," Brian Quinlivan wrote.
He went on to warn that "the transition from rational investing to speculative frenzy can be both swift and punishing," meaning traders should proceed with caution.
With Donald Trump's White House causing the markets to whipsaw as uncertainty over tariffs continues, it's difficult to compare this current crypto rally to past cycles. There's a sea of green today, but no guarantees of the same tomorrow.
Norway-based crypto brokerage and research services firm K33 joined the rapidly growing list of companies to adopt Bitcoin treasury strategies.
In a Wednesday announcement, K33 said it had entered into a financing agreement to buy over 60 million Swedish krona ($6.2 million) in the leading cryptocurrency. The firm said that along with its shareholders, it would issue new shares as well as debt to buy the asset.
"We strongly believe that Bitcoin will become an instrumental part of the global f...
The Open Network's Toncoin was up nearly 12% on Wednesday amid a report that its affiliated messaging platform Telegram is reportedly eyeing a $1.5 billion raise and an announcement that the firm had struck a $300 million deal with Elon Musk's xAI.
The native token of the Telegram-affiliated The Open Network, the 18th largest crypto by market value, was trading at $3.37, CoinGecko data shows. TON soared to almost $3.70 and was up about 90% at one point earlier in the morning.
Telegram’s fortu...
Adopting a cryptocurrency treasury has boosted the stock prices of many companies in recent months, but after making its first Bitcoin buy, video game retailer GameStop is seeing a much different result.
The price of GameStop (GME) is down over 10% on the day, diving to a current price of $31.45 following word from the company that it completed its first purchase of Bitcoin. The price had fallen as low as $30.73 before ticking back up to the current level.
Even with the daily dip, GME is up almo...