According to Ki Young Ju, CEO of CryptoQuant, the next altcoin season is underway, primarily driven by stablecoin holders rather than a typical profit rotation from Bitcoin. He noted that the trading volume of altcoins has reached approximately 2.7 times that of Bitcoin. Historically, altcoin seasons have depended on Bitcoin's price movements, but Ju emphasizes that this time, BTC dominance is less relevant, with trading volume taking precedence. As of February 21, the stablecoin market capitalization is around $232 billion. Ju mentioned that while the stablecoin sector is growing, issues such as rug pulls and reduced capital inflows in certain networks, particularly Solana, could hinder the altcoin rally. Furthermore, the decoupling of Bitcoin from the broader market is evident, with significant institutional investments pouring into Bitcoin, contributing to a distinct Layer 2 ecosystem that makes bridging to altcoins difficult.

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