Altcoin Season Returns as Ether Treasuries Surge, BTC Dominance Slips: Crypto Daybook Americas
By Omkar Godbole (All times ET unless indicated otherwise)
Altcoin season, a period marked by notable outperformance of ether (ETH) and other alternative cryptocurrencies relative to bitcoin (BTC), may finally be upon us. That’s the message from CoinMarketCap’s Altcoin Season Index, which has crossed above 50 for the first time since December.
Ether and other layer-1 coins could be standout performers as a result of the passage of the GENIUS Act in the U.S. The Act provides regulatory framework for stablecoin issuance that could draw institutional demand to Ethereum and other layer-1 blockchains that host billions of dollars worth of the tokens.
“Treasuries are looking to ETH and other L1’s such as SOL, XRP and ADA to become…
