💬Opinion: Although the "altcoin season" has not yet arrived, institutional investors have started increasing their holdings of $SOL.
Coin Bureau co-founder Nic Puckrin (@nicrypto) posted on the X platform, stating that there is still a long way to go before the so-called "altcoin season." The current spot trading volume in the altcoin market remains below the levels of January 2025 and March 2024, and is far below the levels seen in 2021.
However, some institutions have already begun increasing their holdings of $SOL ahead of the "altcoin season." For instance, DeFi Development Corp's SOL holdings have surpassed $100 million, and SOL Strategies recently added over 120,000 SOL to their portfolio. Additionally, the growth rate of new developers on the Solana chain has just exceeded Ethereum, with an 83% year-over-year increase. Developers are choosing Solana, and currently, 65% of SOL is staked, while open interest is also rising.
Wen Altseason?
We have a looong way to go before we see the same levels of interest in alts that we saw in previous rallies.
This chart is quite striking: Altcoin spot trading volume.
We are below Jan levels, below March 2024 levels and miles below 2021 levels.
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