Experts suggest that the rise in altcoin trading dominance on Binance could signal a forthcoming bull market in 2025.
Altcoin Market Analysis
According to an analysis by Burakkesmeci published on CryptoQuant, the dominance of altcoin trading pairs on Binance reached 77.83% in January 2025, up 11% over the previous five months.
Potential for Growth
Burakkesmeci highlights that the steady increase in altcoin trades on Binance suggests there may be a bull market for altcoins in 2025. Since May 2024, when the dominance was at 50.80%, interest in cryptocurrencies has been consistently rising.
Bitcoin and Ethereum Metrics
CoinMarketCap's Altcoin Season Index now leans towards 'Bitcoin Season', with Bitcoin Dominance at 57.74%, indicating a 2.41% rise over the last 30 days. Analysts also note that a spike in Ethereum's price could lead to a broader upswing in the altcoin market.
The dominance of altcoin trading on Binance and the increasing interest in cryptocurrencies could be precursors to a bull market in 2025.
