The TOTAL3 index, which tracks the market capitalization of crypto assets excluding Bitcoin and Ethereum, is nearing the $1.2 trillion mark. This level was last reached in October 2025. The index has recovered from a low of approximately $550 billion.
The TOTAL2 index, which excludes only Bitcoin, has surpassed $1.07 trillion and is currently testing resistance levels near $1.26 trillion. Meanwhile, Bitcoin dominance remains in the 57% to 59% range, indicating a significant share of total crypto capital.
As of late September 2026, the Altcoin Season Index reached 54. While this figure indicates a market in transition, it remains below the threshold of 75, which is typically associated with a full altseason. Analysts note that capital is currently unevenly distributed.
The market for altcoins is more crowded than in previous cycles, with capital spread across a larger number of assets. Assets outside the top 10 coins have recovered to approximately $220 billion, though smaller projects may not see proportional gains.
