Glassnode: No Signs of Overheating in the Altcoin Market
In a period of increasing interest in altcoins within the cryptocurrency market, Glassnode reported that the leverage levels in the altcoin market are lower than the points where the market has previously overheated. During periods of market overheating, the difference between the share of altcoins and Bitcoin in the total open positions in the futures market shrinks to a few percentage points. However, current data shows that this level has not been reached. This situation may indicate that the upward potential in the altcoin market has not been exhausted. Additionally, David Hoffman, co-founder of Bankless, stated that the altcoin season has begun and that a breaking point in the market has arrived earlier than expected. Hoffman is known to have previously sold all his Ether and then made purchases in VVV, NEAR, ZEC, HYPE, and LIT tokens.
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