ETH makes a strong return: Open interest surges, capital inflow exceeds BTC, and altcoin season index hits a new high.

robot
Abstract generation in progress

[Chain News] On July 21, news broke that according to an analysis by a certain institution today, the altcoin season index has exceeded 50, the highest since December last year. The open interest of ETH Perpetual Futures surged from $18 billion to $28 billion within a week. Signs of capital rotation led by institutions are evident, with driving forces including the GENIUS Act signed last Friday, which introduces a clear regulatory framework for stablecoin issuance, causing renewed interest from corporate treasuries in L1 chains such as ETH. ETH Spot ETF inflows have surpassed BTC for two consecutive days, with the market optimistic about the possibility of approving a staking version ETF. The ETH options market also shows enhanced bullish sentiment, with increased bets for the fourth quarter. Over the past week, BTC's dominance has dropped to 60%, while ETH's market share has risen to 11.6%, indicating that the altcoin season may have started.

ETH-1.35%
BTC0.77%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Share
Comment
0/400
rugged_againvip
· 07-21 10:15
Can you dig again?
View OriginalReply0
token_therapistvip
· 07-21 10:13
ETH is doing great!
View OriginalReply0
TokenEconomistvip
· 07-21 10:09
actually, we're observing a classic market rotation effect here, quite similar to sector rotation in trad-fi
Reply0
GasWastingMaximalistvip
· 07-21 10:06
So I can go wild once, huh?
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)