A crypto trader says the altcoin total market cap needs to rise around 16% before “euphoria” sets in, and until then, the market could remain “choppy.”
The altcoin total market capitalization must increase around 16% from its current level before the euphoric altcoin season begins; until then, volatility will continue, according to a crypto trader.
Pseudonymous crypto trader Daan Crypto Trades said in a Dec. 28 X post that the “euphoria” or “mania” phase should start once the TOTAL3 — the total market cap of all cryptocurrencies excluding Bitcoin (BTC) and Ether (ETH) — surpasses its 2021 all-time high of $1.13 trillion and enters price discovery.
The TOTAL3 is currently $962.78 billion at the time of publication, according to TradingView data. It has increased approximately 91.45% since Jan. 1.
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