The Altcoin season forecast is approaching

According to a report from Coinbase, the cryptocurrency market shows many signs that a comprehensive Altcoin season is about to occur. Bitcoin's dominance has dropped from 65% to 59%, while the market capitalization of altcoins has increased by over 50% since July.

Momentum from macro and institutional factors

Fed policy: #coinbase predicts that the U.S. Federal Reserve (Fed) will ease interest rates in September, creating significant momentum for risk assets, including cryptocurrencies. Over $7.2 trillion is sitting in money market funds that could flow into this market.

Demand from institutions: Ethereum ($ETH ) is in the spotlight with strong demand from institutions. The holdings of funds have reached nearly 2.95 million ETH, accounting for 2% of the total supply. Notably, Bitmine Immersion has purchased up to 1.15 million ETH, demonstrating significant confidence in Ethereum's potential.

Growth of specific Altcoins

Some altcoins like ARB, $ENA , LDO, and $OP are experiencing much stronger volatility compared to ETH. LDO has risen 58% in August, supported by the SEC clarifying that liquidity staking tokens are not securities in some cases.

Overall, Coinbase maintains a positive outlook. They expect the recovery of liquidity, clearer regulatory frameworks, and institutional capital flows to be the main factors driving a booming altcoin season in the near future. #anhbacong