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Altcoin Market Rebounds as TOTAL3 Index Jumps Nearly 9% in 7 Days

The altcoin market experiences notable growth, with a 10.66% rise in the TOTAL3 index, while Bitcoin's market dominance falls and Ethereum's share increases. The overall crypto market cap reaches $4.17 trillion.

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Summary

The altcoin market saw a 10.66% increase over the past 7 days, as the TOTAL3 index, excluding Bitcoin and Ethereum, rebounded. Bitcoin's market dominance fell by 1.92%, while Ethereum’s dominance increased by 2.23%. The total cryptocurrency market cap now stands at $4.17 trillion, with the CMC Altseason Index reaching a 90-day high of 72, indicating significant outperformance by altcoins compared to Bitcoin in the past 90 days.

Terms & Concepts
  • TOTAL3 index: An index that tracks the market capitalization of all cryptocurrencies except Bitcoin and Ethereum, often used to gauge the performance of the altcoin market.
  • Market dominance: A measure of the percentage of the total cryptocurrency market capitalization that a particular cryptocurrency holds, often used to assess the relative market strength of Bitcoin or Ethereum.