69% of the top 50 altcoins have outperformed bitcoin in terms of returns

Blockchain Center says altcoin season is coming

20.09.2022 - 09:00

343

1 min

What’s new? Blockchain Center’s analytics data suggests that the cryptocurrency market may be approaching the next altcoin season. According to the published charts on the altcoin season index website, 69% of the top 50 tokens have outperformed bitcoin in terms of returns over the past 90 days.

Link to the Blockchain Center analytics

What is the altcoin season? It is a period of time when crypto investors choose to buy alternative coins and tokens to bitcoin, resulting in a rapid rise in their value.

What is known about the index? The index from Blockchain Center is an indicator that can point to the beginning of the next season. To do so, 75% of the top 50 assets, in addition to bitcoin, stablecoins, and asset-backed cryptocurrencies, must show the best return over the past 90 days.

According to Blockchain Center, over the past three months, the leader in growth was the altcoin of Lido DAO (LDO), a platform staking ETH, with a 278,9% result. It is followed by Chiliz (CHZ), the token of the Socios fan voting platform, with a growth of 186,2%. Rounding out the top three is ATOM, the token of the Cosmos blockchain ecosystem, with a result of 123,6%. Bitcoin gained only 2,1% during the above period. As of September 20, 08:30 UTC, the price of 1 BTC is $19 362, according to Binance.

Earlier, crypto analyst Michaël van de Poppe called promising altcoins of September. They include XRP, ADA, EOS, LTC, and ATOM.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy