A custom indicator tracking pure altcoin market capitalization by excluding Bitcoin, Ethereum, and major stablecoins, providing a focused view of alternative cryptocurrency market movements.
Explore complementary indicator rolesHow it works
The indicator starts by calculating total cryptocurrency market capitalization using the CRYPTOCAP:TOTAL data source. It then systematically removes the market value of Bitcoin, Ethereum, and major stablecoins like USDT, USDC, BUSD, and DAI from the total calculation.
By filtering out these dominant cryptocurrencies, the indicator creates a more refined representation of the altcoin market's true performance. It replaces standard price bars with custom-colored candlesticks, using green for bullish trends and red for bearish trends, which helps traders quickly visualize market movements.
Why it may be useful
This indicator provides traders with a more accurate representation of the alternative cryptocurrency market by isolating the performance of smaller, more volatile cryptocurrencies. By removing the influence of large-cap cryptocurrencies and stablecoins, traders can gain insights into the true dynamics and sentiment of the altcoin market.
The custom color scheme and focused data presentation make it easier for traders to quickly assess market trends and make more informed trading decisions. It offers a clearer perspective on the strength and direction of alternative cryptocurrencies beyond the major market players.
When to explore it
This indicator is most effective when traders want to analyze the pure performance of altcoins without the masking effect of Bitcoin, Ethereum, or stablecoins. It is particularly useful during periods of significant market movement or when assessing the overall health of the alternative cryptocurrency ecosystem.
Traders can leverage this tool during market transitions, sector rotations, or when conducting comprehensive market analysis. It provides valuable insights for those looking to understand the underlying trends and potential opportunities in the broader cryptocurrency market beyond the most dominant assets.
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What we’ve verified
Access, alerts and repainting behaviour have not been independently verified for this indicator. Check the creator’s current publication and settings.
General descriptions and classifications are recovered research. Verified details above identify the specific checks we have completed. Check the creator’s current publication for later changes.
