Key takeaways:
-
Ether’s futures volume dominance has overtaken Bitcoin for the first time since 2022.
-
Stablecoin activity on the Tron network is rising, suggesting capital is moving into altcoins.
Ethereum (ETH) has captured significant attention following a rally exceeding 50% in the past month, marking a shift away from Bitcoin (BTC). Analytics from Glassnode highlight that ETH’s perpetual futures volume dominance has eclipsed Bitcoin for the first time in over a year. This trend represents the largest volume skew favoring ETH recorded, confirming a pronounced rotation of speculative interest toward the altcoin sector.
Ether’s open interest dominance also climbed close to 40%, the highest since April 2023. This rare market condition, seen on only about 5% of days historically, indicates increasing preference among traders to position around Ethereum rather than Bitcoin. Such behavior signals growing risk appetite and increased capital flow into altcoins.
Supporting this altcoin momentum, on-chain data reveals a sharp rise in USDT transfers on the Tron network, a shift largely driven by Binance. Approximately 62% of TRON-based USDT transfers are conducted by Binance accounts, with daily volumes ranging between $2.5 and $3 billion. These substantial stablecoin movements often precede heightened market volatility, typically linked to institutional activity.
This growing stablecoin liquidity concentration on Tron and Binance points to these platforms being pivotal hubs for high-frequency and high-volume trading, potentially fueling further altcoin market flows.
BNB Strengthens Altcoin Season Signal Amid Declining Stablecoin Reserves
Crypto analyst Timo Oinonen reported that Binance’s native token BNB rose 7.4% in the past week, significantly outperforming Bitcoin. This shows that BNB is becoming a key indicator of the ongoing market shift toward altcoins.
Institutional participation appears to support this trend, with Nasdaq-listed Nano Labs recently revealing a $105 million treasury in BNB, totaling 128,000 tokens. This move reflects a strategic diversification into digital assets and underscores BNB’s increasing utility within the Binance Smart Chain ecosystem.
Meanwhile, Binance’s stablecoin reserves continue to fall, indicating that previously dormant capital is re-entering the market. The divergence between shrinking stablecoin reserves and BNB’s price rise suggests renewed risk appetite and heightened buying pressure in the altcoin space. Overall, USDT reserves on exchanges have decreased from $45 billion in February 2025 to approximately $36 billion today.
This confluence of data points from ETH futures, BNB price movements, and stablecoin flows underpins a promising altcoin season ahead.
This article does not offer investment advice. Trading involves risk, so always perform your own due diligence before making financial decisions.
