Source: Cointelegraph Original: "{title}"

According to an analyst, altcoins may experience a final surge in this cycle, but only those with real utility and strong network activity will see price increases.

Real Vision's chief crypto analyst Jamie Coutts stated during a live session on X with Real Vision co-founder Raoul Pal on April 3: "I believe altcoins will have a final surge; the question is, is this a sustainable rebound, and will we see a sustained increase over the next six to twelve months?"

Network activity will be the "North Star" of cryptocurrency trading.

Coutts mentioned, "At this stage, I'm not too sure, but I do believe that high-quality altcoin activity will recover, and that activity will drive prices… We will definitely see some high-quality altcoins experiencing a revival."

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

Coutts advised traders to focus on the "trends" in network activity and use it as the "North Star" for crypto trading, predicting that the altcoin market will see an increase in the next two months.

"I expect that by June, altcoins will start to really rebound. This is based on the premise that Bitcoin will reach a new all-time high by then."

Coutts told Cointelegraph on March 28 that regardless of whether there are clearer answers regarding U.S. President Trump's tariff policies and potential economic recession issues, Bitcoin could reach a new all-time high before the end of the second quarter.

Over the past 30 days, the total market capitalization of the cryptocurrency market has decreased by about 8%. Source: CoinMarketCap

Blockchain network activity has recently experienced a sharp decline against the backdrop of an overall downturn in the cryptocurrency market. According to a Cointelegraph report on February 21, the number of active addresses on the Solana (SOL) network fell to an average of 9.5 million per week in February, a nearly 40% drop from 15.6 million active addresses in November 2024.

Altcoin indicators show warning signs.

Meanwhile, several key indicators used in the crypto industry to gauge the upcoming altcoin season indicate that this moment is still far off.

According to CoinMarketCap, the altcoin speculation index from Capriole Investments has dropped to 12%, a 53% decline since December 25, during which time Ethereum fell 49% from $3,490.

CoinMarketCap's Altcoin Season Index measures the performance of the top 100 cryptocurrencies against Bitcoin over the past 90 days, scoring 14 out of 100, indicating a Bitcoin-dominated market, referring to it as "Bitcoin Season."

The reading of the altcoin season index chart at the time of publication was 14. Source: CoinMarketCap

However, despite Bitcoin's dominance—often seen as a signal for a pullback in altcoin season—currently at 62.84%, some analysts believe it is no longer as significant a signal for altcoin season.

CryptoQuant CEO Ki Young Yu recently stated that Bitcoin's dominance "no longer defines altcoin season—trading volume is the determining factor."

This article does not contain investment advice or recommendations. Every investment and trading decision involves risks, and readers should conduct their own research before making decisions.

Related: Various altcoins plummet on April Fool's Day, while the overall crypto market remains stable.

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