It seems that the altcoin season has officially begun as Bitcoin's dominance ratio drops below 60% and ETH breaks through $4,500. As a result, altcoins have recently attracted increased interest from investors.
One of the clearest confirming signals is that the search volume for altcoins has surged to an all-time high — even higher than during the peak of the previous bull cycle.
The surge in altcoin search volume clearly indicates that investors want to seize opportunities from liquidity rotation. Most investors are currently curious about which altcoins they should invest in.
Key factors to consider when selecting altcoins in the current altcoin season
There is no doubt that there will be both winners and losers as liquidity rotation accelerates in the altcoin season. Here are some important factors that may help identify the most noteworthy altcoins:
The dominance ratio is an important measure for assessing market position. Bitcoin's dominance often spikes when confidence wanes, while the dominance of altcoins tends to rise when market sentiment becomes extremely optimistic. When a coin significantly increases its dominance ratio, it will attract more investor attention, leading to greater capital inflow.
Trading volume is a metric that helps measure the level of activity around a coin compared to its competitors. High volume often indicates that the coin is likely to see significant price increases. However, volume can also be a double-edged sword, as it can reflect selling pressure.
Applicability: If a coin or token has its own foundation, the level of applicability within its ecosystem can significantly impact market demand.
The above factors are the most prominent impacts on altcoin prices, yet other influencing factors may still exist. Based on these criteria, here are the current top selections.
Ethereum (ETH)
The dominance ratio of Ethereum (ETH) has recently followed a parabolic curve, pushing this metric above 13% in the past week. Notably, its dominance ratio has increased by 100% compared to the lowest point recorded in April this year.
ETH currently holds the second-highest dominance ratio, only behind Bitcoin. It is no surprise that its price action has also recently increased parabolically, even surpassing $4,700 in the past 24 hours.
This is the first time ETH has reached this level since the peak in 2021 and it could very well surpass the $5,000 mark in the coming days. At the time of writing, ETH's price has increased by 237% from its 2025 low.
The 24-hour trading volume of Ethereum surged to $63.5 billion over the past day — significantly higher than the peak daily trading volume during the Q4 2024 bull run.
This upward trend largely comes from Ethereum now being the network with the highest Web3 application speed. Organizations have started to recognize the potential of the network, and some have even begun building on this platform.
BNB
The dominance ratio of BNB has risen to 2.9% at the time of writing, although it remains significantly lower than Ethereum, it has increased by about 13% from the lowest point in 12 months.
Although BNB's dominance ratio is currently lower than its July peak, it is noteworthy that it has increased nearly 20% since mid-July, reaching its highest level in 4 weeks. This strong surge indicates that new interest is returning to this coin.
BNB's price has increased by up to 72% from its lowest to highest point in 2025. Notably, this coin reached a new all-time high at the end of July.
Nonetheless, BNB is currently trading below $900 with a 24-hour volume of $3.44 billion — lower than the peak in 2021 and still far behind Ethereum.
It is worth noting that BNB has a lower circulating supply than SOL, a factor that may support its price potential. Additionally, BNB is the native coin of Binance Chain, so it scores very high on the applicability index.
Chainlink (LINK)
The dominance ratio of Chainlink (LINK) reached 0.39% — a figure that seems quite modest, but has actually increased over 60% from the lowest point in 2025 in June.
This indicates that LINK is gradually asserting its position among the favored coins by investors in this year’s altcoin season. This trend is clearly reflected in LINK's price, which has risen over 30% in just the past 7 days.
LINK recorded about $2.3 billion in trading volume over the past 24 hours. However, this figure is just a fraction of the daily peak in the past 12 months, when volume exceeded $12 billion last December.
The recent increase in LINK's dominance and volume has also been bolstered by strong on-chain activity. For example, the total value secured by LINK has increased by over 90% compared to the same period last year, along with more than $93 billion traded through the network's smart contracts.
The activity of oracles remains high, while new announcements regarding Chainlink Reserve have also contributed to the increased excitement surrounding this coin.
Additionally, there are several other noteworthy names:
LTC – one of the oldest coins, has recently seen its dominance ratio increase again. Its 'veteran' status among the top coins may help LTC maintain its allure, especially for investors seeking proven assets.
XRP – has garnered much expectation following recent legal victories against the U.S. Securities and Exchange Commission (SEC). The conclusion of the lawsuit is expected to pave the way for XRP to break free from the constraints that have held it back.
HYPE coin – the youngest coin on the list, but its foundational platform is making a significant mark on the derivatives market. Many top 'whales' have been known to use this platform, with trading volume experiencing strong growth. Notably, HYPE coin has risen over 360% in just the past 6 months.