The surge in altcoin trading can be attributed to increased stablecoin liquidity, according to CryptoQuant CEO Ki Young Ju. He explained that most altcoin trading volume is tied to stablecoins and fiat pairs, rather than asset rotation from Bitcoin as in previous bull runs. Young Ju believes that investors should pay attention to stablecoin liquidity instead of capital rotation from Bitcoin to understand the altcoin market. The delay in the altcoin season is due to institutional investors and spot ETFs driving the current Bitcoin rally and their limited exposure to altcoins. Retail investors are likely to drive the altcoin season in this bull run. While some believe that the altcoin season has already started with Solana, Young Ju noted that it has started for only a few major altcoins. Ripple (XRP) is currently experiencing its altcoin season. Some analysts believe that the altcoin season will happen in the next few months as the bull cycle progresses.



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