AltCoins可能只有在这个周期的最后一次集会

问题是，我们将看到六到十二个月的持续集会

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.

根据Real Vision首席加密分析师Jamie Coutts的说法，Altcoins可能只是本周期的最后一次集会，但是只有那些具有真正实用性和强大网络活动的人才能获得价格上涨。

“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.

库茨在4月3日的X X X LiveStream中说：“我认为山寨币还会再有一个广度的推动力。问题是，我们将看到六到十二个月的持续集会。”

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

网络活动将是如何交易加密货币的“北极星”

“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.

“在这个阶段，我不太确定，但是我确实相信，活动返回，活动会促进价格的优质山寨币……我们肯定会看到其中一些更高质量的名称的恢复，”库茨补充说。

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在一月份报道的那样，目前存在超过3600万个山寨币。但是，根据Coingecko数据，以太坊仍然拥有55.56％的总价值锁定（TVL）的份额，其次是Solana（6.89％），比特币（5.77％），BNB智能链（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.

据库特特（Coutts）称，交易者应该观察网络活动“引人入胜”的地方，并将其用作其“北极星”如何在加密货币上进行交易，并补充说，他看到未来两个月内的Altcoin市场正在上升。

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，库茨告诉Cointelegraph，比特币可以在第二季度结束之前达到历史高峰，无论对美国总统唐纳德·特朗普的关税和潜在的衰退问题是否更加清晰。

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

在过去的30天中，加密货币市值下降了约8％。资料来源：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，由于更广泛的加密货币市场低迷，区块链网络活动的急剧下降。 2月21日，Cointelegraph报告说，Solana（SOL）网络上的活动地址数量在2月的平均每周950万，比2024年11月的1560万个活动地址下降了近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.

同时，Solana网络的平均每日交易数量下降到2月的88,500，比2024年11月下降了70％。

Altcoin indicators are flashing red

AltCoin指标正在闪烁红色

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

同时，加密货币行业用来确定传入的山寨币季节的几个关键指标表明它仍然看不见。

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.

根据CoinMarketCap数据，Capriole Investments的Altcoin投机指数已下降至12％，自12月25日以来下降了53％，同期Ether从3,490美元下降了49％。

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

相关：Altseans何时到达？专家揭示了阻碍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季索引在过去90天内衡量了对比特币表现的前100个加密货币，它读取了100分的14分，倾向于比特币统治的市场，称其为“比特币季节”。

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

出版时，Altcoin季节指数图表位于14岁。资料来源：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，尽管比特币的优势（通常是在升回替代季节的回答）的占62.84％，但一些分析师认为，它不再像Altcoin季节那样相关。

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

CryptoQuant首席执行官Ki Young Yu最近表示，比特币优势“不再定义Altseason - 交易量可以。”