Most Altcoins Won’t Survive in Altseason 2025: CryptoQuant CEO

Highlights:

• Ki Young Ju expects a “selective altseason” in 2025.
• Cryptos with ETF approvals and strong revenue models are likely to outperform the market.
• Market optimism grows as several cryptocurrencies await ETF approval this year.

CryptoQuant CEO Ki Young Ju predicted a “selective altseason” in 2025, where only a few altcoins will benefit from emerging market trends. In a Feb. 25 X post, Ju outlined three main factors that could determine which altcoins succeed. Cryptocurrencies with possible exchange-traded fund (ETF) approvals, strong revenue models, and consistent investor interest could outperform the market, he said. 

“Most altcoins won’t make it” during the market cycle, Ju wrote. This starkly contrasts previous cycles when nearly all altcoins experienced substantial price increases. In the X post, Ju compared the disappearance of the old altcoin season to climate change, which alters seasonal weather patterns.

Altcoins Likely to Outperform in 2025:

1. Potential ETF approvals
2. Sustainable attention drivers
3. Revenue-generating projects

The era of everything pumping is over. It’s a selective altseason—most altcoins won’t make it.

— Ki Young Ju (@ki_young_ju) February 25, 2025

About Seven Cryptocurrencies Awaiting ETF Approval as Market Optimism Grows

As of Feb. 25, the cryptocurrencies pending ETF approvals include Cardano (ADA), Solana (SOL), XRP, Litecoin (LTC), Hedera (HBAR), Dogecoin (DOGE), and Polkadot (DOT). Additionally, the U.S. Securities and Exchange Commission has received filings for Official Trump and Bonk ETFs, as reported on Jan. 21.

Recently, Bloomberg’s James Seyffart and Eric Balchunas estimated a 90% approval probability for Litecoin ETFs, 75% for Dogecoin, 70% for Solana, and 65% for Ripple. The market’s optimism stems from President Donald Trump’s pro-crypto policies. Acting SEC Chairman Mark Uyeda also supports the crypto industry with his favorable approach.

NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.

Here's the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M

— James Seyffart (@JSeyff) February 10, 2025

Ju stressed that sustained user activity is essential. Investors now favor ecosystems with real-world adoption. They seek high transaction volumes and steady fee generation. Revenue is now the final filter. Today’s market prefers projects with sustainable business models.

Altseason Begins as Traders Shift from Bitcoin to Stablecoins

In an X post on Feb. 20, Young Ju informed the crypto community that the “alt season has begun.” The altseason” refers to a period when altcoins, such as Ethereum and Solana, outperform Bitcoin (BTC). He highlighted that this altseason differs from previous cycles as there’s no direct BTC-to-altcoin rotation. 

Instead of using Bitcoin as the primary trading pair for altcoins, many traders have transitioned to stablecoins such as USDT and USDC. These traders are now purchasing altcoins directly. They are bypassing Bitcoin, which is no longer seen as a major competitor to the U.S. dollar. This represents a notable shift in traders’ market behavior.

Alt season has begun.

No direct BTC-to-alt rotation, but stablecoin holders are favoring alts. Alt volume is 2.7x BTC. BTC Dominance no longer defines alt season—trading volume does.

It’s a very selective alt season tho. DYOR. pic.twitter.com/7lSffDuuM8

— Ki Young Ju (@ki_young_ju) February 21, 2025

Stablecoin market capitalizations saw a significant rise following Donald Trump’s win in the U.S. presidential election. As of Feb. 25, total stablecoin market capitalization stands at approximately $233 billion, according to data from CoinGecko.

Meanwhile, institutional investors prioritize stability, so many altcoins that flourished during past speculative cycles will face challenges. Recent data shows this trend, with CoinShares reporting $571 million in Bitcoin outflows last week. Meanwhile, altcoins like XRP saw inflows totaling $38.3 million.