The second largest crypto in the world got a really nice bounce mid-September. Ethereum prices jumped 18% from $2,278 to $2,682 over a week’s time from Sept. 15 – 23.
During that time period, Bitcoin dominance dropped from a recent high of 58.7% on Sept. 19 to 57.4% on Sept. 23. The measure of BTC market share could be showing signs of altcoin season dawning.
Bitcoin prices rose 6% (from $60.2K to $63.9) over the same period, only making a third of Ether’s gains. During a typically slow month for stocks and cryptos, Ether has made up for some of its lag against Bitcoin gains earlier this year.
On Wednesday, Sept. 25, Ethereum’s trailing 12-month ROI (return on investment) was 63% and Bitcoin’s was 140%.
While these two massive cryptocurrency economies duel on for the first place spot among cryptos, with Bitcoin still far ahead in the lead, meme coins are delivering insanely high ROIs, leading to massive early investment in new altcoins like Flockerz (FLOCK).
And It Isn’t Even Alt Season Yet
For example, compare Bitcoin and Ethereum price performance for the 30 days ending Wed. Sept. 25 to the ROI from popular meme coins:
BTC: +0.78%
ETH: -2.97%
WIF: +18%
POPCAT: +42%
NEIRO: +3,082%
Here are the same coins’ ROI performances over the 12-month window for comparison:
BTC: +140%
ETH: +63%
WIF: +1,153%
POPCAT: +5,984%
NEIRO: +25,225% (Neiro just launched the first week in August this year.)
During the three previous multi-year market cycles centered on Bitcoin’s supply cut by half every four years, BTC prices reached new all-time record highs between 12 – 18 months post-halving.
Following on the wave of new capital inflows to Bitcoin’s network, excess liquidity from overheated BTC markets overflows into the altcoin networks that are so well linked up to Bitcoin’s economy. That creates an alt season of new all-time highs for altcoins.
Many of the most notable big winners of past alt seasons were meme coins like DOGE, SHIB, and FLOKI.
Why Ether’s Price Got A Boost In September
Ethereum prices did well in September because of a boost in activity on Layer 2 decentralized apps (DApps) powered by Ethereum’s blockchain.
The increase in user activity on these L2 DApps created more demand for the base layer ETH tokens.
In addition, total value locked (TVL) on Ethereum— ETH that is staked and cryptographically locked from spending to build price support— jumped a whopping $5 billion between Sept. 18 and Sept. 23, according to data from DefiLlama.
Early Birds Mint Flockerz (FLOCK) On Ethereum
The best time to buy altcoins in order to maximize ROI is generally before alt season begins in earnest. Then expert crypto traders check the real time prices and cryptocurrency news daily to stay on top of their bag and scoop profits or exit their positions when the market is near peak levels.
One altcoin that has already raised over $270,000 in premarket token sales in a matter of days is Flockerz (FLOCK). With marketing and rewards pools, staking for attractive yields, and an interesting vote-to-earn feature for voting in the Flockerz DAO, Flocktopia— altcoin traders are flocking to buy this new meme coin in presale.
