"Altseason," a term familiar to many crypto traders, refers to periods when altcoins significantly outperform major cryptocurrencies like Bitcoin and Ethereum.

In the ever-evolving landscape of cryptocurrency, "altseason" represents a pivotal phenomenon where altcoins significantly outperform major cryptocurrencies like Bitcoin and Ethereum. This article delves into the historical patterns of altseason, exploring its implications for investors and the broader market dynamics. By analyzing previous cycles, we uncover the factors that typically trigger these explosive periods of growth, as well as the current market conditions that may signal the next altseason. Understanding these nuances is essential for both seasoned traders and newcomers seeking to navigate the complexities of crypto investing.

Understanding Altseason: What It Is and Why It Matters

"Altseason," a term familiar to many crypto traders, refers to periods when 

 significantly outperform major cryptocurrencies like Bitcoin and Ethereum. Historically, these phases have been characterized by capital rotation from Bitcoin into smaller, riskier projects, often leading to explosive growth in altcoin prices. This phenomenon has been evident in the past three major bull runs, notably in 2017 and 2021, when altcoins surged in value after Bitcoin reached new all-time highs (ATHs).

Bitcoin’s price movements have been cyclical since its inception in 2009. By analyzing historical price data, we can identify distinct periods of boom, bust and recovery. Notably, the two most recent bull runs have witnessed pronounced altseason events, whereby altcoins recorded extraordinary gains, often multiplying their market caps significantly.

For instance, during previous altseasons, the total market capitalization of altcoins surged between 6x and 7x. This explosive growth not only provided immense profit opportunities for traders, but also underscored the 

 inherent in the cryptocurrency space. However, one must also recognize that altseason often precedes the end of a bull run, as profit taking from large-cap tokens leads to a market correction.

Despite the historical significance of altseason, the current cycle appears markedly different. Bitcoin has continued to reach new highs while maintaining a strong market dominance, contrary to the typical pattern in which 

 declines during altseason. This deviation raises critical questions about the nature of the current market, and whether a traditional altseason is imminent.

The Current Landscape: Indicators and Influences

Several factors contribute to the unique dynamics of the current crypto market. First, it’s informative to underscore the importance of Bitcoin’s halving events, which historically precede significant market capitalization and dominance shifts. In previous cycles, Bitcoin's dominance tended to decline approximately 230 days post-halving, leading to a capital rotation into altcoins. However, the recent halving in April 2024 didn’t trigger the expected decline in Bitcoin dominance, suggesting a potential structural change in market behavior.

Moreover, the performance of Ethereum (ETH) relative to Bitcoin has also shifted. Historically, Ethereum served as a primary beneficiary during altseason, often experiencing substantial gains as traders rotated out of Bitcoin. However, since 2022, Ethereum has underperformed not only Bitcoin but also several competing "Ethereum Killers," such as Solana (SOL) and Sui (SUI. This relative underperformance has raised doubts about Ethereum's capacity to lead the market into a new altseason.

 has further complicated the landscape. While the introduction of these ETFs has driven Bitcoin’s price to new heights, it’s also resulted in a capital flow that remains largely focused on Bitcoin and Ethereum. Many institutional investors appear hesitant to rotate their capital into smaller, more speculative altcoins, opting instead to remain in regulated ETF products.

Last but not least, there’s been a significant increase in 

 supply, which has risen by 66% since the start of 2024. This indicates that while institutional activity may explain some market movements, retail engagement remains robust. 

 (CEXs) recorded their largest trade volumes in Q4 2024, suggesting that retail traders are actively participating in the market, potentially looking for altcoin opportunities as liquidity increases.

What Lies Ahead: Potential Scenarios for Altseason

Given the current market dynamics, traders are left to ponder whether an altseason is on the horizon and what form it might take. The accompanying report presents several scenarios that could influence the emergence and nature of the next altseason:

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Bybit x Block Scholes Institution Report: Altcoin Rotation — Why Altseason Hasn’t Come This Time?

Feb 10, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly Highlight — Mixed Job Reports Rattle Market

The recent Bureau of Labor Statistics report indicates that U.S. job growth is slowing, yet remains healthy. Nonfarm payrolls grew by 143,000 last month, with upward revisions for November and December 2024, as they added 100,000 jobs. The unemployment rate has dipped to 4.0%, demonstrating a robust labor market, although the annual revisions suggest job gains were softer than initially reported, averaging 166,000 per month in 2024.

Simultaneously, inflation expectations are rising, driven partly by tariffs proposed by U.S. president Trump. Data from the University of Michigan reveals consumers anticipate price increases, which may complicate the Federal Reserve's decision-making. Fed officials have indicated they aren’t in a rush to lower interest rates further after a series of cuts last year, suggesting they prefer to observe how the economy reacts to potential policy changes.

The job growth in January 2025 was primarily concentrated in health care, retail and government sectors, while mining and manufacturing faced declines. Severe weather conditions contributed to nearly 600,000 people missing work, the highest impact in four years.

Despite these fluctuations, hourly wages increased by 0.5% month-over-month and 4.1% year-over-year, reflecting pressure on wages amid labor market tightness. The participation rate in the labor force stands at 62.6%, with notable contributions from foreign-born workers, highlighting immigration as a critical factor in employment growth.

As the Fed assesses the stability of the labor market, upcoming directives from the Trump administration, including potential immigration restrictions, could impact future job growth and economic conditions. While the landscape shows signs of moderation, it remains resilient, with cautious optimism surrounding economic stability.

Weekly Crypto Highlight — Crypto IPOs Coming

As reported, Gemini, the cryptocurrency firm founded by the Winklevoss twins, is potentially exploring an 

 (IPO) this year. The company is currently discussing the listing with potential advisers, although no final decisions have yet been made.

Bullish Global, a crypto exchange operator whose backers include billionaire Peter Thiel, is considering an IPO as soon as this year.

The interest in going public comes amid a surge of crypto firms accelerating their IPO plans since President Trump's election, as he has shown support for the industry. The Winklevoss twins, known for their legal battles with Facebook's Mark Zuckerberg, previously donated Bitcoin exceeding the campaign contribution limit to Trump, later receiving a refund for the excess.

Gemini employs over 500 people across several global locations, including New York, Seattle and London. Recently, the firm agreed to pay $5 million to settle a Commodity Futures Trading Commission (CFTC) lawsuit alleging it misled regulators while trying to launch the first U.S.-regulated Bitcoin futures contract. Additionally, Gemini has committed to returning at least $1.1 billion to customers affected by the Genesis Global Capital bankruptcy as part of a settlement with New York regulators relating to its Gemini Earn program.

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Weekly Institutional Insights: Mixed U.S. Job Reports; Crypto IPOs Coming

In our latest Learn 101 livestream session, crypto experts shared insights on Bybit Copy Trading Gold&FX.

 crypto on Bybit, you can now use copy trading for gold and forex. These markets are unique, and 

 provides an opportunity to learn effective strategies in these markets. In this nineteenth episode of our 

, we uncover Copy Trading Gold&FX Mastery.

 provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

Joining the livestream on Feb 6, 2025 were two distinguished guests: Argiris Sotirakis, professional trader and founder of 

, and Eric Li, Financial Product Manager at Bybit. Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores Copy Trading Gold&FX Mastery.

Copy Trading 101 — Is It Really That Easy?

Copy trading offers a unique opportunity for investors to potentially outperform the market without dedicating countless hours to analyzing charts. Eric Li, an expert in the field, explains that copy trading involves mirroring the trades of seasoned professionals. 

During his presentation in this Learn 101 livestream, he shares his screen to showcase Bybit’s 

 platforms. For investors looking to diversify beyond crypto, 

 allows you to follow traders specializing in non-crypto assets like gold and forex. To access any of these features, users must first create a separate Copy Trading account on Bybit.

One standout feature of Bybit’s platform is its high-water mark system, which ensures that profits are shared fairly based on individual investments. This transparent approach aligns the interests of both the Master Traders and their Followers.

Argiris emphasizes that copy traders should experience results similar to those of their chosen Master Traders, provided they mirror trades simultaneously. However, he advises against putting all your eggs in one basket. “Diversification,” he says, “is key to minimizing risk and exposure to losses.”

Unlike platforms that rely on fiat currency, Bybit’s Copy Trading Gold&FX uses 

 (USDT). Eric emphasizes that this simplifies transactions and makes it easier for users to quickly follow multiple traders. Moreover, using USDT supports seamless integration with other Bybit features, offering more flexibility for your assets.

When it comes to selecting a trader to follow, Argiris Sotirakis cautions against relying solely on win rates. “A high win rate can be misleading,” he notes. Instead, he recommends evaluating a trader’s performance over time to understand how their strategies perform under different market conditions. He views copy trading as a long-term strategy, pointing out that it may take more than a month to see meaningful results — especially since various strategies thrive in different environments, such as trending markets versus sideways markets.

Eric Li further explains that Bybit offers tools to help users explore various strategy types employed by trading leaders. There are four primary strategy categories, each one focusing on distinct metrics and trading styles. For beginning traders, there’s even a strategy specifically designed to ease them into the world of copy trading. Additionally, traders can search for leaders based on the market they operate in, whether crypto, gold or forex.

One common misconception about copy trading is the perceived loss of control over your assets. Eric Li addresses this concern by highlighting several 

 tools available to users. For instance, copy traders can set custom limits, adjust take-profit levels and even pause or stop copying a trader at any time. “You still have full control over your assets,” Li reassures, “from selecting the right leader to fine-tuning your risk management settings.”

Gold & Forex Trading: The Secret Sauce Pros Don’t Share

Gold is widely regarded as a safe-haven asset, while forex is globally the largest and most liquid market. But many traders still wonder how to profit from the two. According to Argiris, success in these markets hinges on volatility and smart use of 

. Leverage amplifies profits, but managing it wisely is key to minimizing risk.

Recently, gold’s price has seen substantial growth, offering more opportunities for traders. While it’s a less volatile asset than cryptocurrency, leveraging gold can turn small price movements into significant gains. Sotirakis suggests that balancing leverage between crypto and gold helps reduce overall risk. Forex, on the other hand, is far more volatile, and the way leverage is used directly impacts risk exposure. He notes that forex trading can be more stressful, especially for 

Choosing the right strategy is crucial. With a solid 

 ratio, even small market moves can lead to profits. Many smart money strategies from crypto trading also apply to gold and forex, making it easier for traders to diversify across markets.

To help traders get started, Eric Li demonstrates Bybit’s Gold&FX Trading platform, highlighting its 

. This risk-free tool allows traders to practice strategies without using real money, making it ideal for learning during volatile market conditions. Sotirakis also advises using demo trading to test strategies, especially when markets are unstable. If losses pile up, it’s often a sign that your leverage is too high and needs adjustment.

The minimum investment to join Bybit Copy Trading Gold&FX is 100 USDT, though some Master Traders may require a higher amount. Choosing a Master Trader whose trading style aligns with your risk tolerance is essential.

Bybit Copy Trading Gold&FX Fiesta Time! How to Join & Win Big

Looking to dive into Bybit Copy Trading Gold&FX? What better way to start than with the 

, featuring a substantial 130,000 USDT prize pool! But that’s not all — you can also unlock an additional 5,000 USDT in rewards through the 

According to Sotirakis, events like the Copy Trading Gold&FX Fiesta are perfect for those who want to start trading without spending hours analyzing the markets. Moreover, as Li points out, you can copy trade up to 10,000 USDT per 

, giving you the flexibility to maximize your potential rewards.

This Learn 101 livestream session delivers valuable insights about Copy Trading Gold&FX Mastery, showcasing how copy trading simplifies the process of learning from seasoned experts. With Bybit’s demo function, you can practice copy trading strategies risk-free, allowing you to gain confidence without any financial exposure. Getting started is easy — just 

Intermediate

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Learn Live ICYMI: Trade Gold&FX Like a Pro

Soneium and Coop Records are partnering to revolutionize music monetization in Web3. 

S&P 500 futures rebounded after Trump’s tariff announcement but fell 1% on Friday amid economic uncertainty. Gold rose to $2,865 on trade tensions and China’s buying, while strong U.S. jobs data may limit Fed rate cuts. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 1.07%, with Bitcoin and Ether dropping by 0.80% and 1.81%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is ALEO, which surged 9.7% after Aleo joined ETHDenver 2025 as a Meta Sponsor to drive blockchain innovation.

Aleo (ALEO), launched in 2024, is a privacy-focused Layer 1 blockchain using ZK proofs for secure transactions. It supports private DeFi and decentralized apps and is backed by $228M from investors like a16z. 

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 to revolutionize music monetization in Web3. Coop Records, a community-owned label with 600+ on-chain songs, aims to give artists fairer control over their work. Their first collection on Soneium features unreleased music from Tokyo-based producer NUU$HI, available on the Sonova NFT marketplace for seamless creator and collector experiences.

BTC Spot ETFs saw a net inflow of $203.8M from Feb 3-7, with GBTC outflows of $14.7M and non-GBTC inflows of $218.5M. Overall, cumulative GBTC outflows stand at $21.91B, while non-GBTC inflows total $62.61B, resulting in a net inflow of $40.71B.

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Soneium & Coop Records Redefine Music Ownership with On-Chain Monetization

Altcoins

Crypto

Stellar and Lumens are not the same. So, the next time you use them interchangeably again, think twice. Here's everything you must know.

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Stellar Lumens (XLM) is a decentralized protocol for transferring digital currency to fiat across borders and currency pairs. Stellar’s XLM is similar to Ripple but it is created to overcome the challenges of peer-to-peer cross-border transfers.

The year 2017 remains historic for many cryptocurrencies. While some crumbles and disappeared, some like Bitcoin and Ethereum are soaring to their all-time high. While Lumen might not be the most 

, you can’t help but wonder what’s the fuss about and how Stellar’s XLM is gaining traction in the world of crypto.

Stellar and Lumens have always been used interchangeably in the crypto market. But the truth is, they represent different meanings and frameworks.

 refers only to the network, the protocol, the system, and the community as a whole. On the other hand, Lumens (XLM) is the native digital currency of Stellar that powers the network.

The crypto is then used to send, receive, to be traded with other assets. Perhaps the confusion started when the cryptocurrency was initially known as Stellar (STR); later, it was renamed— Lumens or XLM. 

Stellar and Lumens came to light in 2014, when Jed McCaleb, founder of Mt.Gox and co-founder of Ripple, launched the network system Stellar together with the former lawyer Joyce Kim. The nonprofit Stellar Development Foundation was created in collaboration with Stripe CEO Patrick Collison for the project’s official launch in July.

After raising $3 million in seed funding from Stripe, Stellar was finally released as a decentralized payment network and protocol with a native currency— Stellar. In August 2014, Mercado Bitcoin, the first Brazilian bitcoin exchange, announced it would be using the Stellar network.

The next question you should be asking is: "How does it work?"

Stellar works just like the rest of the 

 in many similar ways. In fact, it has a close resemblance to another popular altcoin— 

. As an open-source payment technology that uses the Stellar Consensus Protocol, the technicalities are almost on par with Ripple, allowing quicker and more affordable sending and receiving funds.

Stellar is essentially a decentralized network of servers on the blockchain that run independently. That means it is distributed among all of the interconnected nodes within the Stellar network without being monitored by a centralized source. When the network syncs and reaches a consensus, thus allowing the ledger to be distributed evenly and widely.

 is anyone can just set up a verification node (server) with the Stellar Core where the verification process is done using the 

Think of SCP as Stellar’s algorithm to verify a transaction. It allows the network to scale faster and more efficiently than most PoW blockchains like Bitcoin. The highlight of the Stellar network is the transactions occur in a more decentralized manner using what we know as ‘anchors.’  

These anchors represent entities that people trust to be in charge of their deposits and hand out credits into the blockchain for those deposits. These anchors function as the bridge between different currencies and the Stellar blockchain. Thus, all money transactions executed on the Stellar network (asides XLM) are carried out in the form of a credit issued by the anchors.

Ultimately, it reduces the cost and time required for cross-border transfers.

Again, lumens (XLM) is Stellar’s native cryptocurrency. It serves several functions on the network and mainly uses to pay users for the transaction fees and act as an intermediary to enable users to trade between multiple currencies fast, easily and at the lowest cost possible. For lumens to work as intended, users must maintain a minimum balance of XLM in their accounts.

A worthy note is Stellar has a decentralized protocol that is built right into the protocol. And any payment in different currencies can be routed through its order book and comes out as the desired currency. 

Since the primary use for XLM is settling cross-border transactions for both individuals and financial institutions, Stellar has also partnered with IBM has helped lumens gain considerable adoption as a cross-border remittance within the blockchain. 

Sarah (sender) wants to send his mother (receiver), who is in China, $50 as a remittance. Suppose she goes through the traditional wire transfers. In that case, she’ll be charged with an average of 7.1% transaction fee that’ll be translated to $46.25 at the final remittance, excluding the currency exchange charges.

But, if she chooses Stellar, that converts her dollars to lumens, and then the order book converts lumens into Yuan. Sarah’s mom can receive almost the exact amount of dollars all under five seconds. 

So the concept is similar to Ripple? And the answer is, yes. Still, there are differences you might not be aware of.

Stellar vs. Ripple: What Are The Differences?

Stellar’s basic operation is similar to most decentralized payment technologies. Still, it is fundamentally different from 

, even though both Ripple and Stellar are open sources and relying on the distributed ledger technology.

What sets them apart is they are targeting 

. Unlike Ripple, which works with established banking institutions and consortiums, Stellar focuses more on individuals and on developing markets and has multiple use cases for its technology. Some of these include money remittances and bank loan distribution to the unbanked. Various partnerships with banking institutions and payment processing platforms worldwide allow people to benefit from Stellar’s network for carrying out local and international transactions at almost no cost.

 itself ‘to help’ rather than ‘to profit’ from the public. 

In terms of the organization size, Ripple tends to be a larger organization with more substantial capital. After all, Stellar is targeting a smaller pool of users when comparing to Ripple. 

When deciding if Stellar or Ripple to invest in, it’s good for you to note that 

 that might affect the prices. The removal of XRP from major crypto exchanges like Coinbase, Crypto.com, and more. Naturally, it’ll remove its potential trading volumes. 

XLM’s price is driven by the rate of Stellar’s network adoption. While the network offers ample functionalities that may or may not reflect in the digital currency price, the more Stellar gets adopted, the higher the price Lumens. Stellar’s blockchain is one of the best and evidently boosted by its partnership with renowned tech titans like IBM, Flutterwave, and French company Tempo Money, to name a few.

. Since then, its price is oscillating around $0.03 to $0.10 without wavering. However, the coin’s stable performance and increasing adoption of the Stellar platform have led to optimistic price predictions for 2021 and beyond. 

Analysts believe the price is quite likely to trade around the $0.20 to $0.30 range. While Coinswitch sees XLM 

. However, if it should go backward, the coin could possibly take a dip to roughly $0.05 and hold there for a while before moving up. 

 since the bull run in May 2021. Currently, it’s ranked 21 by its 

How High Can Stellar Lumens XLM Go? Can It Reach $100?

Of course, Stellar is not the brightest star that shines specifically for its value over the year. Yet, it is generally performing well in crypto despite the ups and downs, which is quite typical for the crypto nature. Naturally, this left investors and crypto enthusiasts wondering how far the coin can go. 

XLM’s price prediction in the longer term

, they vary greatly. Some suggest even go as 

, which is more than a 500% growth. Still, it’s safer moderate estimates range from $1 to $3. In the end, if you intend to diversify your portfolio, XLM is still generating a considerable ROI. 

While $100 seems like an unreasonable price target, Stellar Lumens (XLM) is still a fantastic long-term investment. Nevertheless, its price is unlikely to soar over $100. After all, Stellar is here to help rather than to profit. On the contrary, as the supply of Lumens increases at a fixed rate of 1% yearly, this fights inflation and protects one’s holdings. 

A good takeaway here is XLM is an altcoin that disappears into thin air. In fact, it has gained mass adoption and is currently listed on almost every exchange out there.

The strength of XLM lies in the Stellar network and its current partnerships. The platform already has an impressive partner list and has even been integrated with Samsung Mobile.

Let’s be real, partnerships are an essential part of any crypto project as they drive adoption and are a testament to the real-world utility of the XLM coin. To name a few, here are some companies Stellar is partnered up with:

That is just one of the reasons why Stellar Lumens is in the top 10 of all altcoins. It is very well established, has a huge backing, and its technology helps solve one of the major problems in the world today – bringing financial services to the unbanked population. Even established companies like Deloitte are currently building services on the Stellar network.

In 2017, there are already 30 banks confirmed they have signed up to use Stellar’s blockchain for cross-border transfers. Payment service Stripe has also expressed 

 in on-boarding Stellar to its platform.

Stellar is a great long-term hold because it isn’t going anywhere any time soon. But it is unlikely it will dethrone Bitcoin nor Ethereum as a leading cryptocurrency. 

Even Elon Musk has faith in crypto, which means the hopes for Stellar Lumens to stay is real. Although Stellar is becoming a go-to payments token. Still, Stellar Lumens hasn’t had a lot to report in terms of development lately. Such stagnancy may have contributed to the token losing 0.12% in value in January. However, it certainly doesn’t mean anything if you have faith. It’s just a matter of time to see how this crypto can play out. 

Stellar XLM seems like a good investment for 2021, although there is still a lot of room for the platform to grow and develop. The coin has made some strong partnerships, has a strong community behind it, and this makes a strong case for some significant price appreciation.

What about the future, you ask? Nobody really knows how it’ll turn out.

What Is Stellar Lumen (XLM) & Is It Good Investment? (2022)

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