Its been a rollercoaster week in the cryptocurrency market after volatility returned to shake up Bitcoin (BTC) price, pushing the digital asset to lows not seen since mid-October.
As has happened frequently in the past, the drop in price of BTC was followed by a rotation into altcoins and the Altseason Indicator from Cointelegraph Markets Pro suggests that the current market conditions are similar to those seen in the past when altcoins outperformed Bitcoin.
Altseason indicator. Source: Cointelegraph Markets Pro
Here’s a look at a few altcoins that have been making steady gains over the past few weeks.
Avalanche’s DeFi ecosystem explodes
Avalanche (AVAX) is a layer-one blockchain protocol that has risen in popularity over the course of 2021 as its decentralized finance (DeFi) and nonfungible token (NFT) ecosystems have