Stablecoins drive altcoin trading growth, replacing Bitcoin as a primary trading pair.
BTC pairs’ declining volume signals a shift in crypto market dynamics since 2022.
Fiat pairs retain relevance in rallies but cede dominance to stablecoins in trading.
The altcoin market is undergoing a dramatic shift, with trading patterns and market structure evolving rapidly. Data and insights from CryptoQuant CEO Ki Young Ju show that the traditional idea of an “altcoin season,”—where capital rotates from Bitcoin into altcoins—is outdated.
Alt season is no longer defined by asset rotation from #Bitcoin.
The surge in altcoin trading volume isn’t driven by $BTC pairs but by stablecoin and fiat pairs, reflecting real market growth rather than asset rotation.
Stablecoin liquidity better explains the altcoin markets. pic.twitter.com/riejM7oXyk
— Ki Young Ju (@ki_young_ju) December 2, 2024
Instead, altcoin trading growth now stems from stablecoin and fiat currency pairs, not Bitcoin trading pairs. This change suggests a deeper, more sustainable evolution in the crypto market, driven by the increased liquidity and stability that stablecoins provide.
Bitcoin’s Di…
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