Smaller, lesser-known cryptocurrencies are outperforming Bitcoin in another"alt-coin season” as the world’s largest digital asset has seen its dominance wane in recent weeks. An index of 100 coins is on pace to outperform Bitcoin for the second straight month, amid surges in Solana, Cardano, Avalanche and others.
The term"alt-coin-season” has been used plenty of times in the past. But, the market is undergoing a revolution, says Russell Starr, CEO and executive chairman of DeFi Technologies, a decentralised finance asset manager. To be sure, while these cryptocurrencies have the potential for big payoffs, they can be more volatile than Bitcoin or other larger tokens. During market downturns, they could suffer heavy losses, and Bitcoin’s dominance could bounce back. That said, Bitcoin and other larger coins have all failed to break out meaningfully this year.
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