Institutions Drive ETH and Altcoins Higher: A New Era for Crypto

The altseason, a fantasy for some, a mirage for others, finally seems to be showing concrete signs of materialization. And this time, it’s not just simple indicators stirring. The real change comes from above: the big players of the financial world. Those who have moved little until now are starting to massively inject into Ethereum, Solana, XRP, and other crypto alternatives. A tidal wave might be taking shape.

ETH, SOL, XRP: the new toys of the wealthy

The signals are no longer mistaken. Ethereum, Solana, and XRP are no longer reserved for daring crypto investors. Institutional behemoths are taking a close interest. In one week, the open interest on Ethereum perpetual contracts rose from less than 18 billion to over 28 billion dollars. This altcoin surge does not come from retail. It’s the corporate treasuries, hedge funds, and influential asset managers entering the game.

The GENIUS Act, recently signed, played a role of spark. By bringing clarity to the rules around stablecoins, it restores confidence to professional operators. They are rushing to the blockchains that serve as infrastructures for stablecoins. Ethereum leading, followed by Solana, then XRP.

This capital migration is not without consequence. It mechanically reduces bitcoin’s dominance, which dropped from 64% to 60% in a few days. Meanwhile, Ethereum now captures more than 11% of the global crypto market. The landscape is changing rapidly.

A structured crypto ecosystem, converging signals

The altseason index has crossed an important threshold. At 57, it signals an ongoing shift towards altcoins. This score hadn’t been reached since December. And when it rises above 50, the probabilities of an altcoin bull run significantly increase. Moreover, treasury movements are multiplying. Ether Reserve announced its upcoming listing on Nasdaq, proof of sector structuring.

Upexi, a player in the Solana segment, confirms the trend. Its strategy director, Brian Rudick, puts it bluntly:

This legislation is likely to spur more on-chain development and activity and that benefits altcoins more so than bitcoin. While the preponderance of digital asset treasury companies continue to be [for BTC], they are increasingly moving down the risk spectrum to assets like ETH, SOL, and beyond.

Ethereum options also illustrate this paradigm shift. Long call spread positions aim for $3,400 to $4,500 by year-end. These bets come from heavyweights anticipating a steady but solid rise of ETH in the global crypto landscape.

Altcoins on the attack: an accelerating scenario

Alternative blockchains are gaining ground. And not just on the charts. Crypto whales have recently injected decisive momentum. On July 17, 32,300 BTC were transferred to exchanges in one hour. This suggests massive profit-taking. Meanwhile, altcoins saw their capitalization jump, capturing flows diverted from bitcoin.

Arthur Hayes, former CEO of BitMEX, talks about an “altcoin season monster”. According to him, every time Bitcoin consolidates, altcoins benefit. It’s the starting point of an explosive cycle.

• The Altcoin Season Index stands at 57, a decisive threshold;
• ETH open interest increased by $10 billion in one week;
• BTC recently lost 4 dominance points;
• For two consecutive days: Ethereum ETF flows exceeded those of bitcoin;
• Meme coin capitalization approaches $90 billion

Between dynamic presales, new entrants, and rapid rotations, the altcoin universe is awakening with a bang.

In four weeks, Ethereum has jumped over 50%. The euphoria is palpable, the compasses spinning. Some even dare to propose ten thousand dollars as a credible horizon. The prince of cryptos no longer just follows: he leads the dance. And this altseason might well be his crowning.