Interesting.

Altcoin season in this cycle, it seems, is no longer determined by the rotation of capital from Bitcoin (as it was in previous cycles). Well, you remember: bitcoin -> ether -> large caps -> small caps, etc.

But now we see a completely different picture.

A sharp increase in the trading volume of altcoins does not occur in pairs against Bitcoin, but in pairs against stablecoins and fiat, which tells us that this is a REAL GROWTH of the market, and not just a rotation of money from Bitcoin to altcoins.