CryptoQuant CEO highlighted that the altcoin season started but warned that only few of them will soar in this bull cycle.<\/p>\n 2 min read<\/span><\/p>\n Updated:<\/span> Feb. 21, 2025 at 6:52 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n The 90-day moving average of altcoin trading volume on centralized exchanges has risen since mid-November, potentially signaling the start of an altcoin season, according to CryptoQuant<\/a>.<\/span><\/p>\n CryptoQuant CEO and founder Ki Young Ju<\/span> shared data<\/a> showing the trading volume ratio of altcoins compared to Bitcoin (BTC<\/a>) rose from 1.77 to 2.77 as of Feb. 20.<\/span><\/p>\n Ki<\/span> highlighted<\/a><\/strong> that this potentially indicates that \u201calt season has begun.\u201d Alt season is the period when the prices of altcoins soar compared to BTC.<\/span><\/p>\n He added:<\/span><\/p>\n \u201cNo direct BTC-to-alt rotation, but stablecoin holders are favoring alts. Alt volume is 2.7x BTC. BTC Dominance no longer defines alt season \u2014 trading volume does [\u2026] BTC isn\u2019t a quote currency anymore.\u201d<\/strong><\/p>\n<\/blockquote>\n However, data suggests that centralized exchange trading is concentrated on the four largest altcoins by market cap: Ethereum (ETH<\/a>), XRP<\/a>, BNB<\/a>, and Solana (SOL<\/a>).<\/span><\/p>\n Despite the rising altcoin\/BTC trading volume ratio, the \u201caggregated altcoin trading volume for stablecoin pairs\u201d remains steady, except for a $60.4 billion peak on Feb. 3.<\/span><\/p>\n In December, Ki warned his followers that this bull cycle\u2019s alt-coin season would be \u201cweird and challenging\u201d because there is insufficient liquidity to propel the entire sector.\u00a0<\/span>As a result, only a few altcoins will soar.\u00a0<\/span>He added that the altcoins that are ready to rally to new local highs should follow one of two paths.<\/span><\/p>\n The first is creating \u201cpaper-wrapped versions\u201d like Bitcoin. He\u2019s referring to the ecosystem built around BTC through traditional investment vehicles, such as exchange-traded funds (ETFs), Strategy\u2019s BTC acquisitions, and funds investing in BTC.<\/span><\/p>\n The second path is to build a real decentralized ecosystem using stablecoins or BTC to ensure that altcoins appreciate independently.\u00a0<\/span>Notably, a recent Kaiko report<\/span> highlighted<\/a><\/strong> that the top 10 altcoins by market cap account for 64% of all altcoin daily liquidity despite this value nearly doubling from September to Feb. 11.<\/span><\/p>\n Based on CryptoSlate data, only 3 of 22 altcoin sectors registered positive year-to-date performances.\u00a0<\/span><\/p>\n The average crypto market year-to-date performance stands at negative 24.9% as of Feb. 21, with 13 altcoin sectors registering losses above this threshold, equivalent to 59% of the altcoin market.<\/span><\/p>\n![\"bitcoins](\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/02\/altcoin-season.jpg&w=70&h=37&q=75\")
Altcoin season potentially underway but remains limited by market liquidity challenges \u2013 CryptoQuant<\/span> Gino Matos \u00b7<\/span> 2 weeks ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n![](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/cs-gino-150x150.jpg\")
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Bitcoins Selective altcoin season<\/strong><\/h2>\n
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