AltCoins可能只有在這個週期的最後一次集會

問題是，我們將看到六到十二個月的持續集會

According to Real Vision chief crypto analyst Jamie Coutts, altcoins may have just one last rally this cycle, but only those with real utility and strong network activity will see price gains.

根據Real Vision首席加密分析師Jamie Coutts的說法，Altcoins可能只是本週期的最後一次集會，但是只有那些具有真正實用性和強大網絡活動的人才能獲得價格上漲。

“I think there will be one more breadth thrust from altcoins. The question is, is it a sustained rally that we will see for six to twelve months,” Coutts said during an April 3 X livestream with Real Vision co-founder Raoul Pal.

庫茨在4月3日的X X X LiveStream中說：“我認為山寨幣還會再有一個廣度的推動力。問題是，我們將看到六到十二個月的持續集會。”

Network activity will be the ‘north star’ for how to trade crypto

網絡活動將是如何交易加密貨幣的“北極星”

“At this stage, I am not too sure, but I do believe that quality altcoins where activity returns, activity drives prices …we will definitely see a recovery in some of these more high-quality names,” Coutts added.

“在這個階段，我不太確定，但是我確實相信，活動返回，活動會促進價格的優質山寨幣……我們肯定會看到其中一些更高質量的名稱的恢復，”庫茨補充說。

As Cointelegraph reported in January, there are currently over 36 million altcoins in existence. However, Ethereum still holds the majority share of total value locked (TVL) with 55.56%, followed by Solana (6.89%), Bitcoin (5.77%), BNB Smart Chain (5.68%), and Tron (5.54%), according to CoinGecko data.

正如Cointelegraph在一月份報導的那樣，目前存在超過3600萬個山寨幣。但是，根據Coingecko數據，以太坊仍然擁有55.56％的總價值鎖定（TVL）的份額，其次是Solana（6.89％），比特幣（5.77％），BNB智能鏈（5.68％）和Tron（5.54％）（5.54％）。

According to Coutts, traders should be watching where the network activity “is gravitating” and use that as their “north star” for how to trade in crypto, adding he sees an altcoin market upswing within the next two months.

據庫特特（Coutts）稱，交易者應該觀察網絡活動“引人入勝”的地方，並將其用作其“北極星”如何在加密貨幣上進行交易，並補充說，他看到未來兩個月內的Altcoin市場正在上升。

On March 28, Coutts told Cointelegraph that Bitcoin could reach all-time highs before the end of Q2 regardless of whether there is more clarity on US President Donald Trump's tariffs and potential recession concerns.

3月28日，庫茨告訴Cointelegraph，比特幣可以在第二季度結束之前達到歷史高峰，無論對美國總統唐納德·特朗普的關稅和潛在的衰退問題是否更加清晰。

The total crypto market cap is down around 8% over the past 30 days. Source: CoinMarketCap

在過去的30天中，加密貨幣市值下降了約8％。資料來源：CoinMarketCap

Recently, there has been a sharp decline in blockchain network activity across the board amid a broader crypto market downturn. On Feb. 21, Cointelegraph reported that the number of active addresses on the Solana (SOL) network fell to a weekly average of 9.5 million in February, down nearly 40% from the 15.6 million active addresses in November 2024.

最近，由於更廣泛的加密貨幣市場低迷，區塊鍊網絡活動的急劇下降。 2月21日，Cointelegraph報告說，Solana（SOL）網絡上的活動地址數量在2月的平均每週950萬，比2024年11月的1560萬個活動地址下降了近40％。

At the same time, the average number of daily transactions on the Solana network dropped to 88,500 in February, down 70% from November 2024.

同時，Solana網絡的平均每日交易數量下降到2月的88,500，比2024年11月下降了70％。

Altcoin indicators are flashing red

AltCoin指標正在閃爍紅色

Meanwhile, several key indicators the crypto industry uses to determine an incoming altcoin season suggest it's still nowhere in sight.

同時，加密貨幣行業用來確定傳入的山寨幣季節的幾個關鍵指標表明它仍然看不見。

Capriole Investments’ Altcoin Speculation Index has dropped to 12%, down 53% since Dec. 25, the same period during which Ether fell 49% from $3,490, according to CoinMarketCap data.

根據CoinMarketCap數據，Capriole Investments的Altcoin投機指數已下降至12％，自12月25日以來下降了53％，同期Ether從3,490美元下降了49％。

Related: When will altseason arrive? Experts reveal what's holding back altcoins

相關：Altseans何時到達？專家揭示了阻礙altcoins的原因

CoinMarketCap’s Altcoin Season Index, which measures the top 100 cryptocurrencies against Bitcoin’s performance over the past 90 days, is reading a score of 14 out of 100, leaning toward a more Bitcoin-dominated market, referring to it as “Bitcoin Season.”

CoinMarketCap的Altcoin季索引在過去90天內衡量了對比特幣表現的前100個加密貨幣，它讀取了100分的14分，傾向於比特幣統治的市場，稱其為“比特幣季節”。

The Altcoin Season Index Chart is sitting at 14 at the time of publication. Source: CoinMarketCap

出版時，Altcoin季節指數圖表位於14歲。資料來源：CoinMarketCap

However, while Bitcoin dominance — a level often watched for retracements that signal an altcoin season — sits at 62.84%, some analysts argue it’s no longer as relevant a signal for altcoin season.

但是，儘管比特幣的優勢（通常是在升回替代季節的回答）的佔62.84％，但一些分析師認為，它不再像Altcoin季節那樣相關。

CryptoQuant CEO Ki Young Yu recently said that Bitcoin Dominance “no longer defines altseason — trading volume does.”

CryptoQuant首席執行官Ki Young Yu最近表示，比特幣優勢“不再定義Altseason - 交易量可以。”