山寨幣季節指數顯示焦點從比特幣（BTC）轉移

分析師指出，這一里程碑反映出人們的注意力不斷從比特幣（BTC）轉向山寨幣，並且在過去幾個月中出現了顯著增長。

A recent analysis by CryptoQuant contributor Burakkesmeci has highlighted a significant shift in altcoin trading volume on Binance, the world's largest cryptocurrency exchange by trading volume. According to Burakkesmeci, altcoin trading volume on Binance has grown by 11% since May 2024, when it stood at 50.8%.

CryptoQuant 撰稿人 Burakkesmeci 最近的一項分析強調了幣安（全球交易量最大的加密貨幣交易所）上山寨幣交易量的重大變化。 Burakkesmeci 表示，自 2024 年 5 月以來，幣安上的山寨幣交易量增加了 11%，當時的交易量達到 50.8%。

“Retail interest in altcoins is rising steadily, and this momentum could set the stage for a potential bull market in 2025,” Burakkesmeci noted in his analysis.

Burakkesmeci 在他的分析中指出：“散戶對山寨幣的興趣正在穩步上升，這種勢頭可能為 2025 年潛在的牛市奠定基礎。”

Binance has seen a rise in altcoin pair trading, which now accounts for over 77% of its total volume as of January 2025. This marks a substantial increase compared to the 50.8% altcoin trading volume observed in May 2024.

幣安的山寨幣配對交易增加，截至2025 年1 月，山寨幣配對交易量目前佔其總交易量的77% 以上。這標誌著大幅成長。

The increasing dominance of altcoin trading on Binance reflects broader changes in the cryptocurrency landscape. Investors are diversifying their portfolios, seeking opportunities beyond Bitcoin (BTC) and Ethereum (ETH). While Bitcoin's price movements are still closely watched, altcoins have become an area of growing interest, driven by both retail traders and institutional investors.

山寨幣交易在幣安上日益佔據主導地位反映了加密貨幣格局的更廣泛變化。投資者正在實現投資組合多元化，尋找比特幣（BTC）和以太坊（ETH）以外的機會。儘管比特幣的價格走勢仍受到密切關注，但在散戶交易者和機構投資者的推動下，山寨幣已成為日益關注的領域。

Burakkesmeci emphasized that the consistent increase in altcoin trading volume is a clear sign of confidence in altcoins, setting the stage for potential growth in 2025. “With retail participation on the rise, altcoins could continue to gain momentum,” he noted.

Burakkesmeci 強調，山寨幣交易量的持續增長是對山寨幣信心的明顯跡象，為 2025 年的潛在增長奠定了基礎。

Several market participants share this view, with many foreseeing the altcoin market to be ripe for expansion when increasing interest in newer digital assets translates into capitalization.

一些市場參與者都同意這一觀點，許多人預計，當對新數位資產的興趣增加轉化為資本化時，山寨幣市場擴張的時機已經成熟。

Ethereum, the second most valuable cryptocurrency by market capitalization, has been at the forefront of this movement. Traders are keeping a close eye on the price action of ETH, and some analysts have targets with significant upside.

以太坊是市值第二高的加密貨幣，一直處於這項運動的最前線。交易員正在密切關注 ETH 的價格走勢，一些分析師設定了具有顯著上漲空間的目標。

“If Ethereum breaks resistance levels, we could see it go from $4,000 to $8,000,” said Mister Crypto, a popular crypto trader.

「如果以太坊突破阻力位，我們可能會看到它從 4,000 美元升至 8,000 美元，」受歡迎的加密貨幣交易員 Crypto 先生表示。

This could spur a broader altcoin rally because history has also shown that, in terms of price action, Ethereum typically leads the pack.

這可能會刺激更廣泛的山寨幣反彈，因為歷史也表明，就價格走勢而言，以太坊通常處於領先地位。

Despite the growing altcoin dominance, some metrics, like CoinMarketCap's Altcoin Season Index, are still showing a preference for Bitcoin. The index currently scores altcoins at 46, indicating a slight lean towards “Bitcoin Season,” where Bitcoin dominates the market's attention. Bitcoin's dominance in the overall cryptocurrency market stands at 57.74%, having increased by 2.4% over the last month.

儘管山寨幣的主導地位日益增強，但一些指標（例如 CoinMarketCap 的山寨幣季節指數）仍然顯示出對比特幣的偏好。該指數目前對山寨幣的評分為 46，表明稍微傾向於“比特幣季節”，即比特幣主導市場注意力。比特幣在整個加密貨幣市場的主導地位為 57.74%，較上個月增加了 2.4%。

However, many analysts believe that a drop in Bitcoin dominance is often a precursor to an altcoin season. As more capital flows into altcoins, Bitcoin dominance typically declines, signaling that a shift towards alternative cryptocurrencies is underway.

然而，許多分析師認為，比特幣主導地位的下降往往是山寨幣季節的前兆。隨著越來越多的資本流入山寨幣，比特幣的主導地位通常會下降，這表明正在轉向替代加密貨幣。

The Altcoin Season Index has dropped 18 points since December 9. Source: CoinMarketCap

自 12 月 9 日以來，山寨幣季節指數已下跌 18 點。

Although the growing dominance of altcoins in Binance shows promise, according to some analysts, the upcoming season for altcoins may not be quite like the others.

儘管山寨幣在幣安中日益增長的主導地位顯示出希望，但一些分析師認為，山寨幣即將到來的季節可能與其他季節不太一樣。

Ki Young Ju, CEO of CryptoQuant, points out that, among the altcoins, only selected projects with strong use cases and narratives will dominate.

CryptoQuant 執行長 Ki Young Ju 指出，在山寨幣中，只有具有強大用例和敘述性的選定項目才能佔據主導地位。

“This market cycle will differ from those of before because the rotation of capital from Bitcoin into altcoins might not be what drives the market this time around,” Ju explained.

Ju解釋說：“這個市場週期將與以前不同，因為資本從比特幣轉向山寨幣可能不是這一次驅動市場的因素。”

In fact, some analysts believe that the next bull market will be driven by DeFi tokens, which have already started to show strength in recent weeks.

事實上，一些分析師認為，下一次多頭市場將由 DeFi 代幣推動，這些代幣最近幾週已經開始展現強勢。

“The next bull market will be led by DeFi tokens, not Bitcoin or Ethereum,” said Lark Davis, a crypto influencer with over 1 million followers on YouTube.

YouTube 上擁有超過 100 萬粉絲的加密貨幣影響者拉克戴維斯 (Lark Davis) 表示：“下一個牛市將由 DeFi 代幣引領，而不是比特幣或以太坊。”

This view is shared by several other market participants, who believe that DeFi tokens are poised for a major breakout in the coming year.

其他幾位市場參與者也同意這一觀點，他們認為 DeFi 代幣預計將在未來一年實現重大突破。

With a lot of anticipation building for the next bull market in cryptocurrencies, all eyes will be on the performance of altcoins, especially in light of the increasing altcoin dominance observed over the past few months.

隨著人們對加密貨幣下一個多頭市場的預期越來越高，所有的目光都將集中在山寨幣的表現上，特別是考慮到過去幾個月山寨幣的主導地位不斷增強。