PANews 7月21日消息，据QCP Asia今日分析，山寨币季节指数突破50，为去年12月以来最高，ETH永续合约未平仓量一周内从180亿美元飙升至280亿美元。机构主导的资金轮动迹象显现，推动力包括上周五签署的GENIUS法案，为稳定币发行引入明确监管框架，令ETH等L1链再度吸引企业财库关注。ETH现货ETF资金流入连续两日超越BTC，市场看好质押版ETF获批可能。ETH期权市场亦显示看涨情绪增强，四季度押注增多。过去一周BTC主导率跌至60%，ETH市占提升至11.6%，山寨币季节或已启动。

<p>PANews 7月21日消息，据QCP Asia今日分析，山寨币季节指数突破50，为去年12月以来最高，ETH永续合约未平仓量一周内从180亿美元飙升至280亿美元。机构主导的资金轮动迹象显现，推动力包括上周五签署的GENIUS法案，为稳定币发行引入明确监管框架，令ETH等L1链再度吸引企业财库关注。ETH现货ETF资金流入连续两日超越BTC，市场看好质押版ETF获批可能。ETH期权市场亦显示看涨情绪增强，四季度押注增多。过去一周BTC主导率跌至60%，ETH市占提升至11.6%，山寨币季节或已启动。</p>

QCP Asia分析：山寨币季节指数突破50，ETH永续合约未平仓量一周激增至280亿美元

<PANews> News on July 21st, according to QCP Asia's analysis today, the Altcoin season index broke through 50, reaching its highest point since December last year. The open interest of ETH perpetual contracts surged from $18 billion to $28 billion within a week. Institutional-led capital rotation signs are emerging, driven by factors including the GENIUS bill signed last Friday, which introduces a clear regulatory framework for stablecoin issuance, attracting enterprise treasury attention to L1 chains like ETH. ETH spot ETF has seen capital inflows exceeding BTC for two consecutive days, with the market optimistic about the potential approval of a staking ETF. The ETH options market also shows strengthening bullish sentiment, with more bets placed in the fourth quarter. Over the past week, BTC's dominance rate dropped to 60%, ETH's market share increased to 11.6%, suggesting the Altcoin season may have started.

<p>PANews reported on July 21 that according to QCP Asia's analysis, the Altcoin season index broke through 50, reaching its highest level since December last year. ETH perpetual contract open interest surged from $18 billion to $28 billion within a week. Institutional-led capital rotation signs are emerging, driven by factors including the GENIUS bill signed last Friday, which introduced a clear regulatory framework for stablecoin issuance, attracting enterprise treasury attention to L1 chains like ETH. ETH spot ETF capital inflows have exceeded BTC for two consecutive days, with the market optimistic about the potential approval of a staking ETF. The ETH options market also shows strengthening bullish sentiment, with more bets placed in the fourth quarter. Over the past week, BTC's dominance rate dropped to 60%, ETH's market share increased to 11.6%, and the Altcoin season may have been initiated.</p>

QCP Asia Analysis: Altcoin Seasonal Index Breaks 50, ETH Perpetual Contract Open Interest Surges to $28 Billion in a Week

A sediment becomes an institutional asset, and an outbreak becomes a consumer main chain.

Written by: Ethan
"2021 was the year of Layer 1 competition, and 2024 is the meme carnival feast. So, where will the market's main theme go in 2025?" 
This question, which sparked heated discussion on the X platform, is being clearly revealed by mainstream capital: With the successful legislation of the <GENIUS Act> and stablecoins being officially incorporated into the US sovereign regulatory framework, a multi-dimensional financial new narrative that integrates "stablecoins × RWA × ETF × DeFi" is...

ETH vs SOL: Crypto War in 2025, Trillion Capital Bet on the New and Old Order

According to blockchain security company Cyvers, cryptocurrency exchange WOO X has temporarily suspended trading after being hacked and losing $14 million from user funds. The details of this breach are currently unclear,...

WOO X Exchange Hacked – $14 Million Stolen From User Accounts

Ethereum remains strongly supported between $2,500 and $3,000, with signs of an emerging <山寨季> season.