The total market capitalization of “shanzhai” coins is approaching the line from last October.
Excluding Bitcoin and Ethereum’s TOTAL3 index, it is currently nearing $1.2 trillion. The last time this figure appeared on the chart was in October 2025. Near this round’s lows, it has only about $550 billion left—meaning it has roughly doubled from the trough to now.
Looking only at TOTAL2 outside of Bitcoin, it has already risen above $1.07 trillion and is probing a significant resistance level. TOTAL3 set a record high of nearly $1.2 trillion in October 2025, and then subsequently pulled back, erasing about one-third. By early 2026, this index is trading above $870.79 billion, with structural support around $784.40 billion.
The significance of the index lies in its breadth. When money is willing to move from Bitcoin to an outer ring, it suggests that this cycle’s risk appetite hasn’t stopped at the safest layer.
One advantage of breadth indicators is that they filter out noise from a single asset. Bitcoin’s market cap can be lifted by fund subscriptions, but for the total market cap of altcoins to move higher, more “legs” need to push at the same time—making its breakout harder to fabricate than a breakout of a single coin.
Next to watch is not the price itself, but whether the trading volume can keep up after the break of that line. To see how capital is rotating among the outer rings, check the image at the end where the group QR code is shown.
Price increases are never the issue—whether it can hold is.
#加密市场 #山寨币
Excluding Bitcoin and Ethereum’s TOTAL3 index, it is currently nearing $1.2 trillion. The last time this figure appeared on the chart was in October 2025. Near this round’s lows, it has only about $550 billion left—meaning it has roughly doubled from the trough to now.
Looking only at TOTAL2 outside of Bitcoin, it has already risen above $1.07 trillion and is probing a significant resistance level. TOTAL3 set a record high of nearly $1.2 trillion in October 2025, and then subsequently pulled back, erasing about one-third. By early 2026, this index is trading above $870.79 billion, with structural support around $784.40 billion.
The significance of the index lies in its breadth. When money is willing to move from Bitcoin to an outer ring, it suggests that this cycle’s risk appetite hasn’t stopped at the safest layer.
One advantage of breadth indicators is that they filter out noise from a single asset. Bitcoin’s market cap can be lifted by fund subscriptions, but for the total market cap of altcoins to move higher, more “legs” need to push at the same time—making its breakout harder to fabricate than a breakout of a single coin.
Next to watch is not the price itself, but whether the trading volume can keep up after the break of that line. To see how capital is rotating among the outer rings, check the image at the end where the group QR code is shown.
Price increases are never the issue—whether it can hold is.
#加密市场 #山寨币
