On the cryptocurrency platform Binance, the trading volume of alternative coins (altcoins) has soared to a staggering 78%, according to a crypto expert, suggesting a robust possibility for an altcoin price surge in 2025, hinting at a potential bull market.
According to a January 11th market report from CryptoQuant’s Burakkesmeci, as retail interest in crypto grows, there may be a sustained upward trend for altcoins in the upcoming months.
Analyst says there is ‘confidence’ for an altcoin bull market in 2025
In January 2025, Burakkesmeci noted that Binance’s trading volume for altcoins, when compared to pairs, accounted for about 77.83%. This figure represented a roughly 11% surge compared to the previous five months.
According to Burakkesmeci, the continuous increase in altcoin trading activity on Binance indicates a strong belief that an altcoin price surge could occur in 2025.
According to Burakkesmeci, it’s clear that the curiosity surrounding altcoins has consistently grown since May 2024, a time when Binance held approximately 50.80% dominance in the altcoin market.
On the other hand, CoinMarketCap’s Altcoin Season Index, which examines the performance of the top 100 cryptocurrencies by market cap over the past 90 days and compares them, currently indicates a score of 46 out of 100. This suggests that we are trending more towards “Bitcoin Season.
Traders often monitor Bitcoin Dominance – a measure representing Bitcoin’s portion in the overall cryptocurrency market value – to decline, as this could indicate that an ‘altcoin rally’ or ‘altcoin season’ might be approaching. As of the time I’m providing this information, Bitcoin Dominance stands at 57.74%, marking a rise of 2.41% over the preceding 30 days according to TradingView statistics.
Trader eyes Ether upside
In a recent post on Reddit, an anonymous cryptocurrency trader known as Mister Crypto predicted that the price of Ether (ETH) could potentially rise from around $4,000 to $8,000 within the next few weeks.
Many traders interpret an increase in Ether’s value as a potential indicator that other alternative coins (altcoins) might also experience a larger rise in value.
At the time of publication, Ether is trading at $3,279, down 15.77% over the past 30 days.
Hunter Horsley, CEO of Bitwise Invest, expressed his excitement in a recent post, stating that he is “thrilled about the advancements Bitcoin and cryptocurrencies will make this year.
Meanwhile, other analysts say this altcoin season may unfold differently from previous cycles.
Ki Young Ju, an analyst specializing in markets and CEO of CryptoQuant, recently drew a comparison between the current value of altcoins and that of Bitcoin, which has more than doubled since 2021. He predicted that only a select number of altcoin projects with robust use cases and compelling narratives will thrive moving forward.
Previously, Ju had cautioned that this market cycle might diverge from past ones, explaining that the phenomenon known as “altseason,” where investors shift their profits from Bitcoin to altcoins, no longer follows the traditional pattern.
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2025-01-12 05:47