According to CoinMarketCap, the market capitalization of altcoins, excluding Bitcoin, hit a two-year high. The previous high was $142 billion on June 26, 2019, and most recently hit a higher $169 billion. Many analysts see it as a strong indicator that an altcoin season is coming.
Taking a closer look at the outlook for altcoins, some altcoins outperform others. Therefore, the altcoins are ranked according to their market cap (the value of coins in circulation as a currency rather than a virtual currency like the dollar)
The top 11 altcoins by market cap are:
These market-leading altcoins are all considered good contenders to Bitcoin as they have strong technical backing on separate blockchains or platforms. This means that these altcoins could potentially be turned into highly lucrative investments.
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