Altcoin Season Awakens: Institutional Money Moves Into ETH, SOL, and XRP

The crypto market may be entering a new phase, with altcoin season indicators crossing above 50, their highest level since December. According to QCP’s latest insights, ETH is at the forefront, with its perpetual open interest soaring from under $18 billion to over $28 billion in just one week, a sign that institutional players, not just retail traders, are piling in.

A key catalyst is the GENIUS Act, signed into law last Friday by President Trump, which establishes clear rules for stablecoin issuance. This has reignited interest in ETH and other layer 1s like SOL, XRP, and ADA, which serve as the infrastructure for stablecoins.

The momentum could accelerate further if the SEC approves staked spot ETH ETFs. Already, ETH spot ETF inflows have outpaced Bitcoin’s for 2 straight days, a strong signal of shifting institutional focus.

In derivatives markets, ETH options are flashing bullish. Traders are buying call spreads targeting $3,400–$4,500 for Q4 expiries, betting on continued upward movement. Meanwhile, bitcoin dominance has slipped from 64% to 60%, as ETH’s share of total market cap climbs to 11.6%.

If these trends continue, the next leg of altcoin season may already be underway.

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