Binance founder Changpeng Zhao (CZ) has hinted at a potential Altcoin Season, pointing to an uptick in CoinMarketCap’s Altcoin Season Index—a metric that measures how many top altcoins are outperforming Bitcoin. In a recent update, CZ stated, “FOMO season soon…”
The CoinMarketCap Index defines an Altcoin Season as a period when at least 75 out of the top 100 cryptocurrencies outperform Bitcoin over the past 90 days. To ensure accuracy, the index excludes stablecoins such as USDT and DAI, along with asset-backed tokens like WBTC, stETH, and cLINK, focusing purely on native altcoin momentum.
CoinMarketCap has an Alt Season Index feature. Not sure how accurate it is, but it is ticking up.
FOMO season soon…https://t.co/pWyzuhuexv
— CZ 🔶 BNB (@cz_binance) July 23, 2025
Historically, Altcoin Seasons have been marked by significant capital outflows from Bitcoin into alternative tokens. For instance, in May 2021, the combined market capitalization of the top 100 altcoins climbed to nearly 130% of Bitcoin’s, fueled by rising investor confidence and rapid price appreciation across large-cap projects.
During that period, altcoins delivered explosive returns of up to 174%, while Bitcoin saw only a modest 2% gain. This performance gap, combined with surging trade volumes and growing market optimism, triggered a classic wave of FOMO among retail and institutional investors alike.
Typically, these market cycles begin with a strong rally in Bitcoin that lifts overall sentiment and boosts BTC dominance. As momentum builds, capital begins to rotate into Ethereum, which often sparks increased activity across its ecosystem. This trend then cascades into smaller altcoins, resulting in the formation of new narratives, higher on-chain engagement, and broader retail adoption.
Recent movements in the CMC Altcoin Season Index suggest that similar conditions may now be emerging. With CZ’s comments amplifying attention, market participants are closely monitoring price trends and volume shifts for signs of a confirmed altcoin breakout.
Meanwhile, CZ has also issued a warning to the crypto community amid a spike in phishing attacks targeting leading cryptocurrency data platforms. In a separate post on X, he urged users to remain vigilant when connecting their wallets online, noting that attackers are increasingly deploying deceptive authorization prompts, even on reputable sites.
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