Analysis: Altcoin market surges $126B in Q2, signaling strong rally ahead

The altcoin market cap excluding Ethereum has increased by $126 billion in Q2, sparking optimism for a strong altseason reminiscent of 2017, according to Cointelegraph. Crypto analyst Javon Marks pointed to a breakout in the TOTAL3 index (altcoins excluding Bitcoin and Ethereum) relative to the U.S. money supply, indicating that altcoins are gaining value against overall liquidity and attracting growing investor interest. Additionally, anonymous trader Moustache identified a bullish inverse head-and-shoulders pattern on the TOTAL3 weekly chart, similar to the 2021 altseason when top altcoins surged 174% compared to Bitcoin’s 20% rise.