ChainCatcher Message, CryptoQuant CEO Ki Young Ju pointed out that the definition of the current altcoin season is changing. In the past, the growth of altcoins was often closely related to the rotation of Bitcoin assets, but the situation is different now. The increase in altcoin trading volume is primarily driven by stablecoin and fiat trading pairs, rather than traditional BTC trading pairs. This trend indicates that the market growth is more genuine, reflecting an increase in investors' independent demand for altcoins rather than a simple asset rotation phenomenon. Such a change may herald further maturity and diversification of market structure.