Burak Kesmec sees “growing retail participation” on Binance in favor of altcoins. The analyst says the altcoin market could continue to gain momentum in the coming months. Altcoin trading volume on the Binance exchange is at 77%, a level that suggests the approach of the new altcoin season, according to Burak Kesmec, an analyst at cryptocurrency market analysis firm CryptoQuant. This increase in trading volume has been sustained and phased since May of last year. In a recent post, Kesmec stated that when analyzing the trading volumes of Binance peers, “it is evident that interest in altcoins has been steadily increasing.” The dominance of altcoins, excluding bitcoin (BTC) and ether (ETH), in Binance trading volume has increased steadily, reaching 77.8% in January 2025, according to CryptoQuant data. Kesmec notes that this trend “highlights investors' growing shift in focus toward altcoins on the largest exchange by trading volume.” The volumes of other months recorded were May 2024 with 50.8%, August 2024 with 66.7% and November 2024 with 73.8%, according to the analysis firm. In that sense, Kesmec maintains that the constant growth in altcoin trading volume on Binance reinforces confidence in the potential of an altcoin bull market in 2025.
Altcoin trading volume on Binance is over 77%. Source: CryptoQuant. “With retail interest gaining ground, the altcoin market could continue to gain momentum in the coming months,” he noted.
The altseason is already showing its nose
The idea of an “altcoin season” or “altseason” refers to periods where altcoins, or alternative cryptocurrencies to bitcoin, experience significant increases in their value and trading volume. In these periods, altcoins can outperform more established cryptocurrencies. Signs of the new altseason began to appear in December when Blockchain Center's Altcoin Season Index was positioned in such a way, as reported by BitcoinDynamic. The Altcoin Season Index is a metric developed to measure whether the market is in an altcoin season based on the relative performance of altcoins against BTC. Currently, this index is at 51, which means that it is not yet in altcoin seasonbut increasing altcoin trading volume on Binance suggests it could be close.
Altcoin season hasn't arrived yet. Source: Blockchain Center. Several factors point to this could be the biggest altseason in cryptocurrency history. One of them is the institutional saturation of bitcoin, as large investors and funds have accumulated large amounts of BTCwhich could push retailers to look for alternatives.
Additionally, regulatory clarity in the United States regarding cryptocurrencies could provide a safer environment for altcoin investmentas long as President-elect Donald Trump keeps his word. Finally, the rebirth of “dinosaur cryptocurrencies”, those that existed since the first days of the market, but have once again gained relevance, adds another layer of interest and speculation to the market, as reported by BitcoinDynamic. The increase in altcoin volume on Binance, combined with other indicators and market factors, suggests a possible altseason in 2025 that could surpass the previous ones in magnitude and impact in the cryptocurrency ecosystem.