Will "Alt Season" Ever Come?

Is this time different?

Author

Blockonaut
February 03, 2025

Welcome to This Week's Edition of The Alchemists Informer!

Web3 gaming keeps progressing.

But will coin prices match the progression?

Will “alt season” ever come?

Let’s find out about the latest web3 gaming updates as well as a view of previous “alt seasons”.

What To Expect

  • Web3 Gaming Updates

  • Community Spotlight

  • No Alt Season?

  • Job Opportunities

Weekly Web3 Gaming Updates

Today:

  • Citizen Conflict is hosting a tournament starting February 3, 2025, featuring a $1.6M $QORPO prize pool.

Upcoming:

  • Ronin will integrate NRN Agents' AI technology starting in Q1 2025, introducing AI-driven battles and dynamic gameplay across its ecosystem, beginning with proof-of-concept demos in select games.

  • Kuroro Wilds Alpha launches its free "The Arrival" play-to-airdrop event on Ronin Network starting February 5, 2025, offering over 30,000,000 $KURO rewards during the two-week campaign, with pre-registration required.

  • RavenQuest announced it’s global release to take place on March 14, 2025.

This past week:

  • Midnight Society announced its closure due to funding shortages, canceling Deadrop and laying off all 55 employees after failing to secure financial stability following Dr Disrespect’s 2024 termination and earlier layoffs.

  • Sony Block Solutions Labs launched Soneium Conquest, a four-week educational campaign hosted on Galxe to onboard creators and developers into its Soneium blockchain ecosystem via gamified learning modules focused on NFTs, gaming, and SocialF.

  • Fableborne developer Pixion Games raised $12.4M (led by Delphi Ventures) to accelerate the $POWER token launch, including play-to-airdrop campaigns in Season 4 ahead of the token generation event.

  • Youmio recently unveiled its 3D AI agent launchpad platform, enabling customizable on-chain agents with adjustable personalities, capabilities, and 3D models for integration into immersive gaming worlds and external platforms.

The Alchemists Community Spotlight

No Alt Season? Is This Time Different?

January 2021 Alt Szn Sentiment

Did you know you can go back in time and view how crypto traders viewed the market right before “Alt Season” in 2021?

This filter on X shows how many were calling for “No Alt Season” prior to the big move up: X posts in December/January 2020/2021

Recently, there’s been a lot of attention on the new Ai model called DeepSeek. Let’s see what DeepSeek has to say about this:

The Twitter search query ("no alt season until:2021-01-30 since:2020-12-01") captures discussions from December 2020 to January 2021 expressing skepticism about an impending "alt season" – a period when alternative cryptocurrencies (altcoins) dramatically outperform Bitcoin. This historical sentiment mirrors current market conditions in ways that could signal bullish potential for altcoins.

Why This Pattern Matters

1. Pre-Bull Market Skepticism
In late 2020, despite Bitcoin's rally to $29,000, many traders doubted altcoins would follow. However, 2021 saw:

  • Ethereum rise 1,500%+ from January to November

  • Binance Coin (BNB) surge 2,300%

  • Polygon (MATIC) gain 12,000%+

2. Current Parallels
Today's market shows similar dynamics:

  • Bitcoin dominance hovering near 60% (vs. 70% in 2020)

  • ETH historically performs well in February/March (Altcoins are more correlated with ETH prices than BTC)

  • ETH sentiment currently at very low levels

3. Technical Indicators
The 2020/2021 alt season began when Bitcoin's dominance broke below a critical support level, capital rotating into altcoins. Current on-chain data shows:

  • Stablecoin liquidity at 18-month highs

  • Altcoin exchange reserves at 4-year lows (supply squeeze potential)

  • Funding rates neutral across derivatives markets

Key Bullish Drivers

Macro Factors

  • Potential Fed rate cuts in 2024/2025 increasing risk appetite

  • Regulatory clarity progressing (MiCA in EU, FIT21 in US)

Sector Rotation
Historical cycles suggest:

  1. Bitcoin leads initial rally

  2. Ethereum follows

  3. Capital cascades into mid/large-cap alts

  4. Memecoins/small-caps surge last

This pattern held true in 2017 and 2021, with current markets potentially entering phase 2-3 based on ETH/BTC ratio stabilization. While past performance doesn't guarantee future results, the combination of technical setups, macroeconomic conditions, and market structure similarities to late 2020 creates a compelling case for altcoin outperformance in the coming 12-18 months. However, investors should monitor Bitcoin dominance trends and stablecoin inflows as key confirmation signals.

💼 Web3 Gaming Job Opportunities

  • Arbitrum: Gaming Vertical Marketing Lead, Remote Apply

  • SoRare: Player Experience Specialist, New York Apply

  • Beam: Product Designer, Remote Apply

  • Community Gaming: Partnerships Manager, Remote Apply

Websites to Continue Your Job Search

Want a community to play with?

Check out The Alchemists! 🧙‍♂️

The Alchemists Guild

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May your strategies always lead to victory,

Until we meet again in the gaming realm,