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Crypto 'Altcoin Season' Returns as Bitcoin Dominance Fades

  • Index of 100 tokens outperforms Bitcoin over the last month
  • Investors look to diversify away from just the largest coins
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Altcoins Leading the Crypto Slump
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Watch out, Bitcoin, there’s a whole new class of contenders seeking to dethrone the king of cryptocurrencies.

Smaller, lesser-known tokens are outperforming Bitcoin in another “altcoin season” as the world’s largest digital asset has seen its dominance wane in recent weeks. An index of 100 coins is on pace to outperform Bitcoin for the second straight month, amid surges in Solana, Cardano, Avalanche and others. Meanwhile, many crypto firms are seeing greater client interest for these smaller tokens, with BlockFi last weekend noting a “flip” by its retail clients toward alternative coins.