Binance altcoin dominance hits 78%, analyst eyes’ strong momentum’ ahead

Altcoin trading volume dominance on crypto exchange Binance has hit 78%, a level that a crypto analyst says points to strong potential for an altcoin bull market in 2025.

“With retail interest gaining traction, the altcoin market could continue to build strong momentum in the coming months,” CryptoQuant contributor Burakkesmeci said in a Jan. 11 markets report.

Analyst says there is ‘confidence’ for an altcoin bull market in 2025

Burakkesmeci said that Binance’s altcoin trading volume by pairs reached 77.83% in January 2025, an increase of approximately 11% over the past five months.

“The consistent growth in altcoin trading volume on Binance reinforces confidence in the potential for an altcoin bull market in 2025,” Burakkesmeci said.

Major asset trade volume on crypto exchange Binance chart. Source: Burakkesmeci/CryptoQuant

Burakkesmeci said “it is evident” that interest in 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 cap and compares them based on their rolling 90-day price performances — reads a score of 46 out of 100, leaning more toward “Bitcoin Season.”

The Altcoin Season Index has dropped 18 points from its Dec. 9 reading of 64. Score: CoinMarketCap

Traders typically watch Bitcoin (BTC) Dominance — a metric which reflects Bitcoin's share of the total crypto market capitalization — to drop as a signal that altcoin season may be starting. At the time of publication, Bitcoin Dominance is 57.74%, up 2.41% over the past 30 days, as per TradingView data.

Trader eyes Ether upside

Meanwhile, pseudonymous crypto trader Mister Crypto said in a Jan. 11 X post that Ether (ETH) may “pump from $4k to $8k” in the coming weeks.

Traders also view a surge in Ether’s price as a signal that the broader altcoin market may follow with a more significant upside.

At the time of publication, Ether is trading at $3,279, down 15.77% over the past 30 days.

Related: XRP price preps for ‘powerful move’ above $2.90 as sentiment metrics signal optimism

Bitwise Invest CEO Hunter Horsley said in an X post on the same day that he is “so fired up for the leap forward Bitcoin and crypto are going to make this year.”

Meanwhile, other analysts say this altcoin season may unfold differently from previous cycles.

Ki Young Ju, market analyst and CEO of CryptoQuant, compared the current altcoin market cap to that of Bitcoin, which has doubled since 2021, and said, “Only a few altcoin projects with strong use cases and narratives will survive.”

Ju previously warned that this market cycle would deviate from previous cycles and said that altseason is no longer triggered by investors rotating capital gains from Bitcoin into altcoins.

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