The altcoin market may be quietly entering a new phase, according to Michaël van de Poppe, CIO and Founder of MN Fund, MN Capital, and New Era Finance. In an exclusive interview with Coinpedia, From Poppe said investor appetite for altcoins has changed significantly compared to six months ago, although Bitcoin continues to struggle near lows recently.
Recent market data appears to support this trend. According to CoinGecko, the altcoin market capitalization has risen to $84.1 billion, while the Altcoin Season Index now sits at 47, below the 50 level that usually indicates the dominance of altcoins. Trading activity has also increased, with the altcoin’s volume jumping more than 218% in the past 24 hours.
Altcoins Are Better Than Bitcoin
Van de Poppe says the current situation is not the same as a bear market. His observations suggest that the current situation in crypto-assets may be different from what has happened in the past.
“It is already interesting to see that there is a change in the appetite for altcoins compared to six months ago,” he said.
Although Bitcoin has remained weak, several altcoins have already reached new heights each year, while others have set new highs.
“These are not signs of a bear market to happen, these are signs of a bull market starting, although there is one thing left: Bitcoin,” Van de Poppe explained.
He added that if concerns surrounding the Strategy’s STRC ease things, liquidity could return to crypto markets, leading to losses in altcoins. In this case, they expect a strong trend of intermediate products.
Three Interesting Stories
According to From PoppeGood ideas are evident in many stories.
The first is a secret. He said many long-term crypto participants are returning to projects that focus on privacy, driving renewed interest in protocols such as ZCash and NEAR. He added that NEAR’s growing revenue also strengthens its financial position.
The second method is chain protection. The increasing number of shares of SpaceX on crypto platforms led to new developments in the exchange and increased interest in the exchange forever. Hyperliquid recently hit an all-time high, while ONDO, Backpack, and Solana also benefited from the news.
The third major topic is the fragmentation of AI. Following the ban on Fable 5 outside the United States, entrepreneurs turned to other established products.
“That made Bittensor a fast-selling product that week, and I think the distribution theme is a big issue that will continue to emerge,” Van de Poppe said.
Is Altcoin Capitulation Nearing Its End?
Glassnode’s Altcoin Cycle Signal is back in Altcoin Season territory. However, the analytics firm noted that unlike previous cycles, Bitcoin’s recent weakness has played a major role in driving the index. As a result, van de Poppe remains optimistic about the future of altcoins.
Although CryptoQuant CEO Ki Young Ju says that the traditional Bitcoin-to-altcoin transition has slowed, data also shows that altcoins have endured nearly 15 months of heavy trading.
In the past, similar periods of extreme trading fatigue have marked market declines, suggesting that altcoins may be closer to a recovery than another big fall.
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