QCP Capital: Signs of Altcoin Season Emerge as Institutional Funds Accelerate Ethereum Positioning
BlockBeats News, July 21st, QCP Capital posted on its official channel indicating that recent indicators suggest the altcoin season may have quietly started. The Altcoin Season Index has surpassed 50, hitting a new high since December last year. The Ethereum perpetual contract open interest surged from $18 billion to $28 billion within a week, with institutional funds driving this round of growth.
The passing of the "GENIUS Act" has provided a clear regulatory framework for stablecoin issuance, prompting corporate finance departments to view ETH, SOL, XRP, ADA, and others as a new generation of "crypto reserve assets." Furthermore, if the Ethereum spot ETF gets approved, it is expected to further drive institutional allocation from Bitcoin ETF to ETH.
Last week, the ETH spot ETF saw net inflows exceeding BTC for two consecutive days, significantly boosting confidence among institutions such as BlackRock. The options market also shows a strong bullish signal, with an optimistic outlook for the fourth quarter.
The current Bitcoin dominance has dropped from 64% to 60%, while ETH dominance has risen to 11.6%. Overall, it appears that a new round of the altcoin season has officially begun.
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