Ki Young Ju, CEO of CryptoQuant, announced the start of alt season. This notable statement is backed by a significant increase in altcoin trading volumes compared to Bitcoin.
Surge in Altcoin Trading Volumes
The altcoin season is characterized by cryptocurrencies like Ethereum and Solana outperforming Bitcoin in trading volumes, indicating a shift in coin dominance.
What Makes This Season Unique?
This season is different with no Bitcoin to altcoin rotation. Instead, traders are using stablecoins like USDT and USDC for direct altcoin purchases, reflecting increased market activity. Alt trading volume is currently 2.7 times that of Bitcoin.
Is the Current Growth Sustainable?
Despite the apparent growth, not all altcoins benefit equally. While some projects see significant gains, others lag. Investors are advised to conduct personal research to identify promising assets.
The current surge in altcoin trading volumes signals increased interest, despite cautious market sentiments. Investors should carefully assess the prospects of individual assets.
