According to Arthur Hayes, the alternative season is there

According to Arthur Hayes, the alternative season is there

Arthur Hayes-co-founder of Bitmex-believes that the old coin season (a time frame in which the alternative coins exceed Bitcoin and its dominance on the cryptoma market is already there.

assets such as Ether (Eth), Arbitrum (Arb) and Dogecoin (Doge) have recorded significant profits in the last 24 hours, while BTC has remained relatively stable in a range of $ 30,000 to $ 31,000.

Enter the alternative season

In one of his latest tweets, Hayes presented a prize diagram from Ether (Eth), in which the increase in the past few hours has been outlined over $ 2,100.

allow me to introduce me again. My name is old !!! pic.twitter.com/yize7zxpaw

- Arthur Hayes (@Cryptohayes) 14. April 2023

The impressive performance of the native token from Ethereum could be a result of the successful completion of his The Shapella upgrade Fusion. It enabled validators to withdraw stubborn ETH, which initially prompted some to assume that the Coinder Prize could go down in view of the possibly large amounts to be unlocked.

Security measures, however, did not allow such a massive activation, and the evaluation of the token went in the opposite direction and exceeded $ 2,100 for the first time.

Other digital currencies, including BNB and Doge, are also on the rise in the last few hours. Binance's native token rose over $ 330 and has increased by over 4 % in the past seven days. The world's largest crypto exchange announced Preserver-Spaces = "True"> its 23rd quarter of burning on April 14, where BNB worth more than $ 670 million was pulled out of circulation.

Dogecoin is another asset that is well in the green area. It peppered to $ 0.10, after Elon Musk changed the main logo of Twitter to the symbol of Dog on April 3, but in the following days it went back to $ 0.08.

es collected Again again at the beginning of this week, after Twitter had closed a partnership with the fintech company Etoro. Cooperation aims to enable users to access cryptocurrencies, stocks and other monetary assets, and many argue that Doge would be among the first tokens introduced.

BTC loses something of dominance

Another factor that proves Hayes theory that the Altcoin season has begun, has been the decreasing dominance of Bitcoin in the last few days.

Although it has reached a capitalization of almost $ 600 billion, the primary cryptocurrency currently makes up for 46.4 % of the entire market (according to Coinmarketcap ). In comparison, the number two days ago before the Ethereum Shapella upgrade was 47.5 %.

On the other hand, ETH increased its share from 18.4 % on April 12 to 19.8 % at the time of writing these lines.

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