Recent data shows that Ether (ETH) has experienced a significant shift in market dynamics, with trading volume in Ether’s perpetual futures surpassing Bitcoin (BTC) for the first time since 2022. This marked the largest volume skew in favor of ETH, indicating a potential pivot towards altcoins by traders. Ether's open interest dominance reached nearly 40%, suggesting increased interest and positioning around ETH. Onchain data reflect a noticeable increase in USDT transfers on the Tron network, primarily driven by Binance, which comprises about 62% of TRON-based USDT transfers. Additionally, the native token of Binance, BNB, has seen a 7.4% surge over the past week, indicating a strong market shift toward altcoins. Institutional interest is also apparent, as companies like Nasdaq-listed Nano Labs disclosed significant holdings in BNB, aiming to leverage its growing utility. The ongoing decline in Binance’s stablecoin reserves alongside rising BNB prices further supports the notion of an increased appetite for risk, potentially leading to more capital influx into the altcoin market.

Source 🔗