Altcoin Surge: ETH and L1s Take Center Stage đ€©
Altcoin season might be here, with indexes above 50 for the first time since December. ETHâs Perpetual Open Interest spiked from $18B to $28B in a week, driven by institutional interest. The new GENIUS Act clarifies stablecoin rules, boosting ETH and Layer 1s like SOL, XRP, and ADA as Corporate Treasuries stock up. Potential staked ETH ETF approvals could shift focus from BTC, with ETH ETF inflows already outpacing BTCâs for two days last week. Bullish ETH options trades signal Q4 optimism. BTC dominance dropped from 64% to 60%, while ETHâs market share rose from 9.7% to 11.6%. If this keeps up, altcoins could be in for a big run.
I think the altcoin season hype is legitâETH and L1s are stealing the show with real institutional muscle behind them. The GENIUS Act is a game-changer, making stablecoins less of a regulatory mess, which is huge for adoption. If those ETH ETFs get approved, we could see a massive shift from BTC to altcoins. The dataâs solid, but markets can be fickle, so Iâd keep an eye on BTCâs dominance and those ETF flows to confirm the trend. Exciting times, but donât bet the farm just yet!
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