Only 36 of the top 100 altcoins currently provide profits to their holders. In contrast, Bitcoin has recorded a growth of approximately 28% over the past two years. Data from Glassnode and CryptoQuant highlights this divergence, noting that 84% of altcoins listed on Binance are trading below their 200-day moving averages.
The median mid-cap altcoin has experienced a decline of about 74% over the two-year period ending in September 2026. This trend follows a liquidation event in October 2025 that caused net outflows from the sector. While market capitalization saw partial rebounds in the first half of 2026, the overall performance remains suppressed.
The Altcoin Season Index currently stands at 48–49 points, remaining below the 75-point threshold required to signal an altcoin season. However, Glassnode’s Altcoin Cycle Signal reached 81.25 on September 22, 2026, indicating a potential shift in capital rotation from Bitcoin toward the broader market.
Profitable tokens currently exhibit measurable revenue generation and established utility. Analysts suggest that a sustained move of the Altcoin Season Index above 75 is necessary to confirm a broader market recovery and a shift away from Bitcoin dominance.
