QCP Asia Analysis: Alts Season Index Breaks 50, ETH Perptual Futures Open Interest Soars to $28 Billion in a Week

PANews July 21 news, according to QCP Asia's analysis today, the altcoin season index has broken 50, the highest since December last year. The open interest of ETH Perptual Futures surged from 18 billion USD to 28 billion USD within a week. Signs of fund rotation led by institutions are evident, with driving forces including the GENIUS Act signed last Friday, which introduces a clear regulatory framework for stablecoin issuance, making L1 chains like ETH attractive to corporate treasuries again. The fund inflow for ETH Spot ETFs has exceeded BTC for two consecutive days, with the market optimistic about the approval possibility of a staking version ETF. The ETH Options market also shows an increase in bullish sentiment, with more bets placed for the fourth quarter. In the past week, BTC's dominance has dropped to 60%, while ETH's market share has increased to 11.6%, indicating that the altcoin season may have begun.