#山寨币突破

Recently, multiple indicators show that the altcoin season may have quietly begun. The altcoin season index has surpassed 50, reaching a new high since December last year. The open interest in Ethereum perpetual contracts surged from $18 billion to $28 billion within a week, with institutional funds becoming the main driving force behind this round of increase.

The passage of the 'GENIUS Act' provides a clear regulatory framework for the issuance of stablecoins, prompting corporate finance departments to regard ETH, SOL, XRP, ADA, and others as a new generation of 'crypto reserve assets'. Furthermore, if a staking-based Ethereum spot ETF is approved, it is expected to further drive institutions to shift their allocations from Bitcoin ETFs to ETH.

Last week, ETH spot ETFs recorded net inflows exceeding BTC for two consecutive days, significantly boosting the confidence of institutions like BlackRock. The options market also displayed strong bullish signals, with optimistic expectations for the fourth quarter.

Currently, Bitcoin's market share has dropped from 64% to 60%, while ETH's market share has risen to 11.6%. Overall, it appears that a new round of altcoin momentum may have officially started.