The cryptocurrency market saw a stark divergence this week: Bitcoin and Ethereum faced downward pressure while several altcoins recorded double-digit gains. According to the latest data, Bitcoin (BTC) dropped 6% and Ethereum (ETH) fell 12%, but the total market capitalization edged up 1.47% to $2.57 trillion.
Altcoins Shine This Week
Among the top performers, Jupiter (JUP) emerged as the biggest winner, skyrocketing 99.5% against the U.S. dollar. The Solana-based DEX aggregator token surged 15.9% on Monday alone, driven by increased activity in the Solana ecosystem. Following closely, meme coin dogwifhat (WIF) climbed 42% for the week, adding 27.2% on the last day. Solana (SOL) ranked third with a 37% weekly gain (7.9% on Monday). SOL recorded over $10 billion in global trading volume in the past 24 hours, making it the most traded asset excluding stablecoins, BTC, and ETH.
Other cryptocurrencies with double-digit weekly gains include AVAX, CFX, PYTH, AIOZ, and MKR. On the losing side, FLOKI fell 29.1%, the worst performer among major tokens. BSV dropped 28.1%, impacted by the conclusion of the COPA vs. Craig Wright case. Additional double-digit losers include OP, LDO, XEC, MNT, MINA, and SATS.
No Altcoin Season Yet
Despite the strong altcoin gains, the Altcoin Season Index from Blockchaincenter.net stands at 59, still below the 75 threshold required to declare an “Altcoin Season.” The current reading indicates the market remains in a “Bitcoin Season” phase. Analysts suggest that if Bitcoin’s momentum slows and altcoin rotations continue, the index could break above 75 in the coming weeks.