OKX explained why the alt season has not yet started
Date: 2025-03-26 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The current upward trend of the crypto market does not show large-scale technological innovations and pronounced trends like DeFi or GameFi that could stimulate the growth of altcoins. This opinion was expressed by OKX Commercial Director Lennix Lai in an interview with ForkLog.
He emphasized that, despite significant expectations, the launch of spot ETFs on Bitcoin and Ethereum in 2024 did not become a catalyst for the start of the alt season. Ethereum is currently trading at around $2,000, which is almost 40% lower than last year. Bitcoin, on the contrary, although it has experienced a correction in recent weeks, is showing growth of 30% compared to the same period a year ago.
The second factor holding back the growth of altcoins, according to Lai, is the increased interest of investors in Bitcoin as the most stable asset against the backdrop of global economic uncertainty. This has led to a decrease in demand for riskier cryptocurrencies.
As for Ethereum, its weak dynamics, according to the OKX representative, is associated not only with the general instability of the market, but also with the growing pressure from competitors - especially Solana. However, the upcoming upgrade called Pectra, according to Lai, may become a positive factor for the growth of ETH in the near future.
Lai also noted that interest in altcoins may well return. As a guide, he suggested monitoring the value of the Altcoin Season Index - if it rises above 75, this will signal the beginning of the active phase of the altseason. In addition, news, user activity on social networks and the growth of altcoin trading volumes on major platforms play an important role.
He also added that the strengthening of the ETH/BTC pair could be another sign of renewed interest in altcoins, as it reflects investor confidence in Ethereum as a leading alternative asset class.
Recall that on March 24, Bitcoin consolidated above $87,000 amid easing concerns about the possible introduction of new US trade tariffs. And from March 15 to 21, the inflow of funds into crypto funds amounted to $644 million, ending a five-week period of capital outflow.
