Global #cryptocurrency market

A recent report from KAITO AI Research reveals significant trends in the cryptocurrency market from January to August 2024, highlighting the dominance of DeFi, AI, Meme, and Layer-2 tokens.

In the past three weeks, the cryptocurrency market has experienced a remarkable surge, with the total market capitalization rising from $1.828 trillion to $2.261 trillion—a nearly 20% increase.

In a notable shift within the cryptocurrency market, Bitcoin (BTC) is on the verge of forming a "golden cross," a bullish technical indicator that occurs when the 50-day moving average crosses above the 200-day moving average.

The cryptocurrency market has experienced its fair share of highs and lows, with many predictions falling flat, particularly throughout 2023. However, recent developments, especially Ripple's partial legal victory over the U.S. Securities and Exchange Commission (SEC), may signal the onset of the long-anticipated altcoin season, a trend that many analysts believe is now on the horizon.

Dogecoin (DOGE), the leading meme cryptocurrency, is currently at a pivotal price point following a surge in the overall cryptocurrency market, which now boasts a total market capitalization of $2.2 trillion.

This past week has witnessed a notable surge in altcoin performance alongside Bitcoin (BTC), leading to an increase in the Altcoin Season Index, which has risen to a two-month high of 45, according to Blockchain Center.