Key takeaways:
The total altcoin market cap (excluding ETH) gained $126 billion in Q2, fueling speculation of an altseason.
The altcoin market cap, excluding Ether (ETH), has added $126 billion in Q2, sparking enthusiasm from analysts who have been waiting for an altseason. Crypto analyst Javon Marks noted a breakout that could rival the explosive 2017 bull run.
In a recent post on X, Marks highlighted a chart comparing the TOTAL3 index (total market cap of altcoins excluding Bitcoin (BTC) and Ethereum) against the US money supply, suggesting that altcoins may be on the verge of a significant rally.
A rise in TOTAL3 against the US money supply suggests that altcoins are gaining value relative to the total liquidity in the US economy, reflecting increased investor interest and capital inflow into altcoins.
TOTAL3/US Money supply. Source: X.com
Marks emphasized that altcoins