Analysis: Altcoin market cap hits record high, fueling season hopes

Expectations for an altcoin season are growing as the TOTAL3 index, which tracks the total cryptocurrency market capitalization excluding Bitcoin, has reached an all-time high, Cointelegraph reports. The outlet noted that the index hit $1.18 trillion on Monday and set a new all-time weekly high on Sunday. Further supporting this outlook, USDT's market dominance has fallen sharply over the past week from 4.74% to 4.18%. This suggests that funds are rotating from stablecoins into riskier assets amid rising market confidence. The last time this figure was below 4% was in January, the report added.