Altcoins SOL, AVAX, and DYDX have been among the top-performing altcoins this month, with double-digit gains and chasing new year-to-date highs. The sustained bullish price action from altcoins has led to speculation about the arrival of an altcoin season. The DYDX token has seen a boost in price following the launch of its layer-1 blockchain, which allows for the on-chain distribution of fees. Solana’s SOL token has experienced impressive growth driven by an increase in users and revenue. Avalanche’s AVAX token has also performed well, despite bringing in less revenue compared to Solana and DYDX. Bitcoin continues to dominate the overall market, but when its dominance decreases, funds typically flow into altcoins, signaling the start of an altseason.
