The altcoin market is currently on a roll, with several cryptocurrencies skyrocketing to multi-year highs, but Ki Young Ju, the founder and CEO of blockchain analytics platform CryptoQuant, believes this altseason will not play out as traders and investors expected.<\/p>\n
In an X post, Ju insisted<\/a> that this altcoin season will be \u201cweird and challenging\u201d because only a few chosen assets will record significant gains and \u201cwin the game.\u201d According to the CryptoQuant founder, the altcoin market sentiment is good, but the sector is not seeing a notable inflow of fresh liquidity, and this could hamper the growth of most crypto assets.<\/p>\n The altseason refers to when capital flows from bitcoin (BTC) to other cryptocurrencies. During this time, BTC retraces its steps and consolidates within a particular range, its dominance and market share declining, while altcoins skyrocket and possibly hit new highs.<\/p>\n From Ju\u2019s perspective, BTC is drifting away from the crypto ecosystem and developing its own paper-based layer-2 entity. The CryptoQuant CEO said this development is being pushed by Bitcoin spot and futures exchange-traded funds (ETFs<\/a>) and the stocks of Bitcoin-friendly companies like MicroStrategy<\/a> (MSTR).<\/p>\n Unfortunately, bridging from the paper-based L2 Bitcoin ecosystem to altcoins is impossible.\u00a0Ju explained that altcoins used to move together due to their correlation with BTC; however, that pattern has broken, and only a handful of cryptocurrencies are showing independent traits because they are attracting new liquidity.<\/p>\n \u201cAlt season is no longer defined by asset rotation from #Bitcoin. The surge in altcoin trading volume isn\u2019t driven by $BTC pairs but by stablecoin and fiat pairs, reflecting real market growth rather than asset rotation,\u201d the crypto analyst clarified in a separate tweet<\/a>.<\/p>\n The CryptoQuant founder\u2019s opinion is substantiated by altcoin market dynamics over the past 24 hours. While most large-cap altcoins have been in the red, others, like Ripple\u2019s native token, XRP<\/a>, and Chainlink (LINK<\/a>), have skyrocketed to levels not seen in years.<\/p>\n Meanwhile, Ju asserted that altcoins now have two options: build a real internet money ecosystem using stablecoins and BTC or create paper-wrapped versions like Bitcoin. He then suggested that altcoin investors find cryptocurrencies that can work on one of the two options and hold them long-term.<\/p>\n The post Here\u2019s Why CryptoQuant CEO Says This Altseason Won\u2019t Play Out as Expected<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The altcoin market is currently on a roll, with several cryptocurrencies skyrocketing to multi-year highs, but Ki Young Ju, the founder and CEO of blockchain analytics platform CryptoQuant, believes this altseason will not play out as traders and investors expected. In an X post, Ju insisted that this altcoin season will be \u201cweird and challenging\u201d […]<\/p>\n","protected":false},"author":0,"featured_media":25412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25411"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25411"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25412"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Altseason to Play Out Differently<\/h2>\n
Following Bitcoin\u2019s Path<\/h2>\n