Binance Daily Brief — July 21, 2025

Altcoins are back in the spotlight.


The Crypto Daybook Americas kicks off this week with a clear signal: Altcoin Season may have officially returned, driven by a renewed institutional focus on Ethereum and other Layer-1 blockchains, as Bitcoin dominance holds flat despite a bullish macro backdrop.


According to the Altcoin Season Index by CoinMarketCap, levels have crossed the 50 threshold for the first time since December, signaling a broad market rotation from BTC$BTC

into alternative crypto assets.



📈 ETH Treasuries Lead the Way


A major tailwind for altcoins is the rise in corporate ether (ETH) holdings. The recently passed GENIUS Act in the U.S.—designed to create a regulated environment for stablecoin issuance—has sparked institutional demand for Ethereum and other Layer-1s such as Solana (SOL)$SOL

, XRP, and Cardano (ADA).



“Treasuries are now looking at ETH and top L1s the way they looked at BTC three years ago,” said Singapore-based QCP Capital.


Companies like SharpLink Gaming and Bitmine Immersion Technologies now hold a combined 500,000 ETH, while The Ether Machine announced plans to list publicly with a 400,000 ETH treasury, further reinforcing Ethereum’s status as a treasury-grade asset.



🪙 BTC Stalls as Altcoins Shine




  • BTC Dominance is flat at 60.82%, after slipping over 5% earlier this month.



  • Ether-Bitcoin Ratio dipped slightly to 0.0318 (-0.72%), suggesting mild pullback after strong ETH-led gains.



  • ETH Futures Open Interest hits a record 15.21 million ETH, while BTC Futures OI holds steady at 700K BTC.



  • On Deribit, ETH risk reversals show a bullish tilt with large call spread activity across tenors.



  • ETH sees a positive dealer gamma buildup at the $4,000 strike, signaling potential volatility suppression near key levels.



⚠️ Funding Rates & Volatility Signals




  • XRP and XMR funding rates are approaching 50% annualized, hinting at crowded long positions and possible liquidations ahead.



  • BTC funding rate remains moderate at 0.0166%, or 18.2% annualized on KuCoin.



  • Market watchers are closely monitoring ETH consolidation, with some suggesting a breakout to $4,250–$4,500 could follow if treasuries continue to scale in.



📊 Macro + Markets Snapshot




  • Total Crypto Market Cap: ~$3.8 Trillion



  • ETH Price: $3,771.92 (+1.97%)



  • BTC Price: $118,675.21 (+0.62%)



  • CoinDesk 20 Index: 4,155.88 (+1.89%)



  • DXY: 98.24 (-0.24%)



  • Gold Futures: $3,373.10 (+0.44%)



  • Silver Futures: $38.81 (+0.90%)



🔍 Key Stocks & Miners Watch




  • Strategy (MSTR): $431.73 pre-market (+2.01%)



  • Coinbase (COIN): $426.49 (+1.6%)



  • Galaxy Digital (GLXY): $29.81 (+9.88%)



  • CleanSpark (CLSK): $12.97 (+1.49%)



  • Riot (RIOT) and MARA Holdings (MARA) also show modest pre-market gains.



🔮 Outlook: Alt Season Momentum Builds


With institutional ETH demand accelerating and the GENIUS Act reshaping stablecoin frameworks, the altcoin landscape may be entering a period of structural strength. A sustained ETH breakout, particularly with strong spot treasury accumulation, could keep Bitcoin dominance suppressed for the foreseeable future.#StablecoinLaw #ETHBreaks3700 #CryptoMarket4T #NFTMarketWatch