Binance altcoin dominance reached 78%, analyst eyes strong progress ahead
The dominance of Altcoin trading volume on crypto exchange has reached 78%, this level indicates that one crypto analyst has a strong potential for an altcoin bull market in 2025.
“With increasing retail interest, the altcoin market may continue to build strong momentum in the coming months,” CryptoQuant's promoter Burakkesmeci said in a January 11 market report.
Analyst Says ‘Confidence' for Altcoin Bull Market in 2025
Burakkesmeci reported that Binance's altcoin trading volume reached 77.83% in January 2025, an increase of approximately 11% over the past five months.
“The steady growth of altcoin trading volume on Binance reinforces the belief in the potential for an altcoin bull market in 2025,” Burakesmesi said.
Major asset trading volume on the crypto exchange Binance chart. Source: Burakkesmeci/CryptoQuant
“It's clear,” Burakxmeci said, that demand for altcoins has steadily increased since May 2024, when Binance's altcoin dominance stood at 50.80%.
However, CoinMarketCap's Altcoin Season Index — which uses the top 100 cryptocurrencies by market capitalization and compares them based on their rolling 90-day price performance — read a score of 46 out of 100, leaning more toward “Bitcoin Season.”
The Altcoin Season Index is down 18 points from its December 9 reading of 64 points. Score: CoinMarketCap
Traders typically look to the dominance of Bitcoin (BTC) — a measure that reflects Bitcoin's share of the total crypto market capitalization — to signal that the altcoin season may be about to begin. According to TradingView data, at press time, Bitcoin Dominance is up 57.74%, up 2.41% over the past 30 days.
Trader's eyes ether up
Meanwhile, anonymous crypto trader Mr. Crypto said in a Jan. 11 X post that Ether (ETH) “could go from $4k to $8k” in the coming weeks.
Traders see the rise in the price of Ether as a sign that the broader altcoin market may follow higher.
At the time of publication, Ether is trading at $3,279, down 15.77% in the last 30 days.
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“He's fired up because Bitcoin and crypto are going to do it this year,” Bitwise Invest CEO Hunter Horsley said on XPost on the same day.
Meanwhile, other analysts say this altcoin season could be marked differently from previous cycles.
“There will be only a few altcoin projects with strong use cases and narratives,” said Ki Yang Ju, market analyst and CEO of CryptoQuant, comparing the market value of Bitcoin to a doubling starting in 2021.
Ju previously warned that this market cycle would deviate from previous cycles and that the altseason would no longer be fueled by investors diverting capital gains from Bitcoin to altcoins.
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