Altcoin open interest reached a record $47B in August 2025, led by ETH, SOL, XRP, and DOGE.
Google Trends searches for “altcoins” saw a sharp spike but remain below 2021 highs.
The Total2 index is approaching a breakout above its 2021 all-time high.
Altcoin open interest has surged to a record $47 billion, marking the highest level ever recorded and signaling elevated market leverage.
Glassnode data shows that this figure marks the highest level recorded and has been steadily climbing since October 2024. Ethereum, Solana, XRP, and DOGE accounted for much of the increase.
Glassnode noted that the rise reflects greater concentration of leverage in the altcoin market. This can cause stronger price movements in both directions, creating conditions where rapid gains or losses are more likely. Analysts have warned that such leverage can make markets more sensitive to sudden shifts.
Search Interest in Altcoins Rising
Google Trends data showed a sharp rise in searches for “altcoins” during August 2025. Crypto analyst Miles Deutscher said the increase suggests the market may be entering “price discovery” territory.
This is the exact sentiment pressure gauge you want before a major alt rotation because it confirms the market is in the pre-mania coil.
•Google Trends “velocity” spike means a sudden increase in rate of searches, not absolute volume. The raw search numbers are still well below…
— SightBringer (@_The_Prophet__) August 13, 2025
Market commentator SightBringer clarified that the data reflects a surge in search speed rather than peak volume. Search levels remain below those seen in 2021 and late 2024. He described the current stage as a “pre-mania coil,” often seen before large market moves in past cycles.
Technical Setup Points to Potential Breakout
The TOTAL2 index, which tracks the crypto market excluding Bitcoin, is nearing a breakout above its 2021 high. Analyst el_crypto_prof shared a chart showing a multi-year price pattern that resembles the 2016–2017 cycle.
#Altcoins
This is probably the biggest signal you can get for Altcoins.
TOTAL2 is about to take out the highs of 2021 and at the same time break out of the pattern that has been in place for several years.
2016/2017 vibes. pic.twitter.com/5mTyNo0p8f
— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 (@el_crypto_prof) August 13, 2025
During that earlier cycle, the market experienced a period of consolidation, referred to as “Wave 1,” followed by a strong “Wave 2” rally. The recent price action mirrors that setup, with the index now approaching a green breakout zone. Analysts suggest that a confirmed move above this zone could align with the start of an extended bull phase for altcoins.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
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