Cryptocurrency Company Wintermute Makes Pessimistic Statements Regarding Expected Altcoin Growth! Here Are the Details

cryptonews.ruPubblicato 2026-07-31Pubblicato ultima volta 2026-07-31

Introduzione

Leading crypto market maker Wintermute has expressed a pessimistic outlook on the anticipated altcoin season. The firm notes a shift in institutional investor behavior, with capital increasingly concentrating in fewer tokens. In H1 2026, institutional clients accounted for 72% of Wintermute's OTC spot trading volume, a record high. Data reveals that institutional trading activity drops sharply after price spikes, while retail interest persists longer. This suggests institutions are becoming more selective. Wintermute argues the classic altcoin season, where hundreds of tokens rise simultaneously, may be changing. Future cycles may only benefit projects with strong use cases, high liquidity, and institutional appeal. Supporting data shows altcoin trading volumes against Bitcoin are near 2021 lows. Excluding stablecoins, the top 10 altcoins now represent about 80.5% of the total altcoin market cap. Data firm Kaiko also reports trading volume is concentrating, with the top 10 altcoins now making up 63% of total altcoin volume, up from roughly 50% months ago. Analysts conclude that in the current cautious institutional climate, a potential new altcoin rally may be less broad than previous bull markets, with profits likely concentrated in a limited number of high-quality projects.

It has been suggested that the long-awaited new altcoin season in the cryptocurrency market, unlike past cycles, may benefit only a limited number of projects.

Wintermute, one of the world's leading cryptocurrency market makers, stated in its latest assessment that institutional investor behavior is beginning to change, and capital is increasingly concentrated in a smaller number of tokens.

Wintermute announced that institutional clients accounted for 72% of the company's over-the-counter (OTC) spot trading volume in the first half of 2026. This is the highest figure in the company's history.

According to data, the trading activity of institutional investors typically decreased significantly within a day after sharp price increases, while interest from individual investors persisted for about three days. This indicates that institutional capital is acting more selectively and concentrating on specific tokens.

According to Wintermute, this trend suggests that the classic "altcoin season," where hundreds of altcoins in the past saw simultaneous price growth, may change. The company believes that in the new cycle, only projects with compelling use cases, high liquidity, and interest from institutional investors will stand out.

Other data supporting the overall market picture also points to a similar trend. The analytical platform CryptoQuant reported that trading volume for altcoin pairs against Bitcoin is approaching the lowest level since 2021. According to the same data, the 10 largest altcoins by market capitalization, excluding stablecoins, account for approximately 80.5% of the total altcoin market capitalization when Bitcoin and stablecoins are excluded.

Similarly, market data analysis company Kaiko noted that trading volumes are increasingly concentrated in fewer projects. According to Kaiko, the top 10 altcoins account for 63% of total altcoin trading volume, compared to about 50% just a few months ago. This shift indicates that investor capital is increasingly flowing into a narrower group of projects.

Analysts note that in the current environment, where institutional investors are acting more cautiously, projects with advanced technology, high liquidity, and a robust ecosystem may attract more attention compared to other altcoins. Therefore, it is suggested that a potential new altcoin growth season may not be as extensive as previous bull markets, and profits may be concentrated in a limited number of promising projects.

*This is not investment advice.

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Domande pertinenti

QAccording to Wintermute, what is changing about institutional investor behavior in the cryptocurrency market?

AWintermute states that institutional investor behavior is changing, with capital increasingly concentrating in a smaller number of tokens. They are acting more selectively and focusing on specific projects.

QWhat percentage of Wintermute's OTC spot trading volume came from institutional clients in H1 2026, and why is this significant?

AInstitutional clients accounted for 72% of Wintermute's OTC spot trading volume in H1 2026. This is significant as it is the highest share in the company's history, highlighting the growing dominance of institutional capital.

QHow does Wintermute's report suggest the classic 'altcoin season' might change in the new market cycle?

AWintermute suggests the classic 'altcoin season,' where hundreds of altcoins rose simultaneously, might change. In the new cycle, only projects with compelling use cases, high liquidity, and institutional interest are likely to stand out and attract capital.

QWhat market data from CryptoQuant and Kaiko supports the trend of capital concentration mentioned by Wintermute?

ACryptoQuant data shows altcoin trading volumes against Bitcoin are near their lowest since 2021, with the top 10 altcoins (excluding stablecoins) holding ~80.5% of the altcoin market cap. Kaiko data shows the top 10 altcoins now account for 63% of total altcoin trading volume, up from ~50% months ago, indicating concentration in fewer projects.

QWhat characteristics might help an altcoin project attract attention in the current cautious institutional environment, according to the article's analysis?

AAccording to the analysis, altcoin projects with advanced technology, high liquidity, and a robust ecosystem are more likely to attract attention in the current environment where institutional investors are acting cautiously and selectively.

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