Are we in the altcoin season now?

This will be a very long write so please do give me a follow if you gained some insights

To put it simply, yes Altcoin season has started. Here are some evidences and supporting claims:

Increased trading volume is a key indicator of an ongoing altcoin season.
Major altcoins like Ethereum (ETH), XRP, and Solana (SOL) are seeing substantial trading volume increases on both centralized exchanges (CEXs) and decentralized exchanges (DEXs).
These surges indicate that traders are reallocating funds from Bitcoin into altcoins, betting on higher returns.
Protocols like Uniswap, PancakeSwap, and other DEXs have reported heightened activity, driven by altcoin trading.
Platforms like Binance, Coinbase, and Kraken have reported triple-digit percentage increases in altcoin trading pairs.
Layer-1 and Layer-2 solutions like Polygon (MATIC) and Avalanche (AVAX) have also seen dramatic spikes in trading volume, correlating with price surges.

Falling Bitcoin dominance indicates that altcoins are gaining a larger share of the overall crypto market.
Bitcoin dominance is the % of the total cryptocurrency market capitalization represented by Bitcoin.
When dominance is high, Bitcoin controls most of the market's value.
When dominance falls, other cryptocurrencies (altcoins) capture a larger share.
During an altcoin season, investors start shifting their funds from Bitcoin into altcoins.
Bitcoin's growth slows, and traders seek higher returns in smaller, riskier coins.
Altcoins often have more significant potential for short-term gains due to smaller market caps.
Let's look at historical trends
Historically, altcoin seasons often follow Bitcoin rallies.
1. Bitcoin leads the market with significant gains.
2. Investors take profits from Bitcoin and reinvest in altcoins.
3. Altcoins outperform Bitcoin, leading to falling dominanc.
In early 2021, Bitcoin dominance fell from over 72% to around 40% as Ethereum and other altcoins surged.
CURRENT CONTEXT:
Bitcoin dominance recently dropped from 62% to 54.8%.
This decline aligns with the rise of altcoins like Ethereum, XRP, and Solana, which are outperforming Bitcoin in price and volume.

3. Altcoin Season Index

Currently hovering around 82 to 90, which indicates that we are already in an altcoin season.

There are still alot of evidences supporting that we are currently in an alt season but there's too much for me to say. I might make a follow up post soon.

Happy Investing and follow me if you found this useful