Altcoin Season Index Shows Decline in Performance

According to BlockBeats, the Altcoin Season Index, as reported by Coinmarketcap, currently stands at 22. This marks a significant decrease from its previous high of 78 on September 20. The average index value last week was 24. The index indicates that, over the past 90 days, approximately 22 out of the top 100 cryptocurrencies by market capitalization have outperformed Bitcoin. The CMC Altcoin Season Index is a real-time metric used to assess whether the cryptocurrency market is experiencing a season dominated by altcoins. It is based on the performance of the top 100 altcoins relative to Bitcoin over the last 90 days.