Bittime Projects Altcoin Season Celebrating Crypto Asset Market

Illustration. (Photo: Unsplash)

JAKARTA - Bittime, a crypto asset investment platform that is officially registered in Indonesia projects that the altcoin or altseason season will take place in the near future. This is considered to be enlivening the crypto asset market ahead of Bitcoin haloing.

The altcoin season or altcoin season is one of the cycles that occurs in the crypto asset market. Apart from altseason, there is also a Bitcoin season cycle that indicates an increase in the performance of Bitcoin (BTC) crypto assets.

The term two seasons or cycle is used in a period where the crypto asset market has increased in value. Historically, usually these two cycles occur alternately. The reason is, psychologically the increase in the value of crypto assets will not usually last long periods of time.

Bittime CEO Ryan Lymn said, based on Blockchain Center data, currently the Altcoin Season Index shows that the altseason is imminent. To note, the Altcoin Season Index is calculated if 75 percent of the top 50 coin had better performance than Bitcoin during the previous season (90 days).

"Currently, the Altcoin Season Index shows a figure of 76 out of 100, which means we are getting closer to the altseason. Market participants should start preparing to use this momentum to improve portfolio performance," he said, Friday, January 19.

Ryan explained that having knowledge about the crypto asset season like altseason could provide many opportunities for traders who want to improve their portfolio performance. Every market cycle can be an important marker of which crypto assets will increase in value and which will decline.

"Understanding the cycle and season in the crypto asset market can help traders and investors. Especially to determine which crypto assets can be purchased at low prices and sold at high prices when the season arrives, to get maximum returns," he said.

Furthermore, Ryan hopes that the altseason cycle will also increase the market activities of crypto assets in Indonesia. This is especially related to the volume and value of crypto asset transactions in Indonesia, which are growing positively.

"Bittime as an investment platform for crypto assets that is officially registered in Indonesia certainly hopes that altseason can become one of the drivers of market activities. We always believe that Indonesia has enormous potential in the global crypto asset industry," he said.

As is known, the Commodity Futures Trading Supervisory Agency (CoFTRA) recorded that the total value of crypto transactions for the January-November 2023 period reached IDR 122 trillion. The number of customers since the regulation of crypto assets until November 2023 reached 18.25 million subscribers.

In this late 2024, there are several coins or crypto assets that deserve to be taken into account. Furthermore, the Bittime research team has compiled an interesting list of altcoins to collect due to various factors.

The Bittime research team has been monitoring many altcoins since the previous period. There are several altcoins that deserve to be taken into account in this 2024 altseason, including SOL, TIA, AVAX, ETH, ADA, and MANTA.

Solana (SOL)

Solana recently rose to fame due to re-released smartphones. Through Solana Mobile, they claim to have received 30,000 preorders for the smartphone in just 30 hours since its launch.

Solana is popular in the crypto asset world because of its impressive scalability, low transaction fees, and very fast transaction speed. Solana is also one of the few crypto assets partnering with Visa.

Celestia (TIA)

Celestia gained a lot of attention before its launch in October 2023. Apart from the fact that so many leading crypto exchanges have supported it since its launch, the technical concept of Celestia is considered attractive to support the modular blockchain network.

With an ecosystem ready to bring in many developers to support it, Celestia is ready to change our way of thinking about blockchain and distributed liner technology.

Avalanche (AVAX)

Avalanche is a blockchain network that aims to provide decentralized platforms to create and manage decentralized financial applications (DeFi). Avalanche has characteristics that can push it forward in the blockchain race.

They use a consensus protocol called the Directed Acyclic Graph (DAG) optimized consensus mechanism, which allows rapid transaction speed and scalability.

Ethereum (ETH)

This one name may not need to be questioned for crypto asset traders and investors. Especially now that Ethereum's name is growing after BlackRock supported the idea of Ethereum's ETF launch, just a day after Bitcoin's ETF was launched.

Ethereum is still the second largest crypto asset in the world after Bitcoin. Since spearheading the concept of smart contracts in 2015, Ethereum has consistently been the first to support nearly all new blockchain innovations.

Cardano (ADA)

Cardano is a blockchain that supports smart contracts, supports staking to get returns when validating transactions and securing networks, and can be scaled on a large scale.

Cardano is seen as a third-generation crypto asset designed to build a universal financial protocol that will develop on its own. The technology is able to provide access to financial services to people who do not have bank accounts.

Manta Network (MANTA)

Manta Network is a modular ecosystem built for the next generation of scalable dApps. Manta Network offers a good ecosystem to meet the demands of scalability dApps. This ecosystem uses a modular approach to meet changes in market needs for current and future dApps.

From DeFi, games, to social communities, the applications implemented in Manta are designed to provide their own experiences. The Manta Ecosystem Grants program is designed to explore and develop new use cases to address problems faced by users.

To note, Bittime has been operating since 2022 and currently provides hundreds of crypto assets with cheap transaction fees and admin fees. In addition, Bittime also has attractive product features to meet user needs. Most recently, Bittime lists several coins that are being loved by the market, including PEOPLE, CTK, MASK, ACA, SHRAP, MAGIC, BEAM, AR and MANTA.