Altcoin’s market capitalization is only a few percent points from its all-time high. Many analysts believe it could reach much higher levels in September.
Several reasons indicate that the Altcoin season has entered the acceleration phase. What are those signs? Below are important observations and explanations.
1. AltCoin trading volume surpasses ETH and Bitcoin
Analyst Maartunn recently noticed that Altcoin’s trading volume surged in September, with BTC and ETH falling. This rare signal confirms that capital is flowing into the altcoin.
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Data from Cryptoquant also shows that AltCoin Spot volume share rose in September, bringing down ETH and BTC stocks. Specifically, Altcoins accounted for 37.2%, while ETH and BTC accounted for 31.8% and 30.9%, respectively.
This shift often shows a rotation of liquidity from bitcoin and large coins to mid- and small caps, confirming the acceleration of AltSeason.
“AltSeason tip? The volume of Altcoin has risen last week with Ethereum Spot volume,” says Maartunn.
The decline in ETH volume share fits the well-known capital turnover cycle. Capital usually starts with a Bitcoin rally and flows into ETH, accelerating into a wide range of altcoin surges.
Maartunn added that eight of the 10 indicators of Cryptoquant’s bull/bearscore are bearish for Bitcoin.
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Meanwhile, Bitcoin’s domination fell in September along with BTC’s prices. As Altcoin’s market capitalization rises, this reinforces the view that Capital supports Altcoins.
2. Altcoin Season Index hits 2025 High
The second sign is the Altcoin Season Index (ASI) of the Blockchain Center, which scored the highest level of 80 points in 2025. This confirms that the market is Altcoin season.
The ASI measures the performance of the top 50 coins (excluding stablecoins) against Bitcoin over the past 90 days. With 75% of the coins above BTC, the index indicates Altcoin is dominated.
During the acceleration phase, the ASI can rise to 100 before the cycle ends, as with previous peaks. This reflects a strong preference for high-risk Altcoin investments.
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Analyst Lau pointed out that the acceleration period for the Altcoin season can last from the 17th to 117 days.
“Historically, the average ALT season is 17 days and has a record of 117 days. Now we need to wait and see how long the new cycle will last,” Lau said.
3. Total3 forms a giant bullish triangle
The third sign comes from technical analysis. Total3 (Total Altcoin market capitalization excluding BTC and ETH) has formed a massive bullish triangle over the past four years and is currently on the verge of breakout.
The chart shows Total3 is testing its highest ever high, with volume rising and price pushing resistance against it. The breakout officially marks a strong acceleration for AltSeason, similar to the 2019-2021 cycle.
Simon Dedic, founder of MoonRockCapital, calls this the most important structural signal at the moment.
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“Imagine while Total3 is on the verge of breaking out of a four-year wedge and taking the crisis of Total3 getting back on track at the best end of each month in cryptography history,” Simon Dedic said.
When a total of three sets a new high above $1.16 trillion, investors’ trust will boost Altcoins’ trust. With no historical resistance to references, Rally’s ceilings depend entirely on the momentum of retail investors’ FOMOs.
4. Exchange Upbit, Coinbase, Bithumb Ramp Up list, etc.
The increased liquidity at Altcoins helped fuel a wave of new exchange lists in September.
Upbit has added almost one token per day (Linea, Pump, Holo, Open, WLD, Flock, Red) to maintain a market share of 50.6% against Bithumb (46%). Bithumb listed EUL, WLFI, Linea and pumps. Coinbase has listed Kmno, Dolo, Layer, Spx, Awe, and WLFI.
These lists increase the liquidity of Altcoin, attract speculation and increase trading volume. The feedback loop between news listings and volume rises further accelerates the AltCoin season.
