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Altcoin Season Is Here – But Not As Expected

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The long-awaited altcoin season (alt season) has arrived, according to CryptoQuant CEO Ki Young Ju.

However, the analyst says this one plays by different rules, unlike previous cycles driven by a clear Bitcoin-to-altcoin capital rotation.

Analyst Calls Altcoin Season—But Not as Expected

Ju’s latest observations suggest that stablecoin holders, not Bitcoin traders, fuel selective altcoin gains while market liquidity remains constrained.

In a recent post on X (formerly Twitter), Ju declared that alt season has begun, citing a sharp increase in altcoin trading volumes. According to the analyst, the altcoin trading volume is now 2.7 times that of Bitcoin. However, Ju also noted that this is not a broad-based rally.

“It’s a very selective alt season…Only a few coins are pumping. With no fresh liquidity, it feels like a PvP fight over a fixed pie,” he wrote.

Altcoin Season Commencement
Altcoin Season Commencement. Source: Ki Young Ju

This assertion aligns with his earlier warnings. In January, Ki cautioned that the altcoin market remains a zero-sum game, with capital circulating among assets rather than seeing new inflows. In December, he also predicted that this alt season would be “weird and challenging,” favoring only select assets.

“Altcoins used to move together based on their correlation with BTC, but that pattern has now broken. Only a few are starting to show independent trends as they attract new liquidity,” Ki had written.

While some traders are excited, others remain unconvinced. RobW, a user on X, questioned Ju’s definition of alt season.

“A few tokens are pumping, so it must be alt season? None of the usual metrics apply, but it’s alt season if you pick really carefully, doesn’t sound like an alt season,” RobW challenged.

Similarly, DeimosWeb3 suggested that while some altcoins are performing well, the market has not yet entered a full-fledged alt season.

China’s Fiscal Moves and Crypto Markets

A parallel discussion in the crypto community involves China’s recent fiscal maneuvers. Some speculate that China’s economic policies could inject liquidity into global markets, benefiting crypto.

However, analysts urge caution, pointing out that China has not injected new capital but recalculated its M1 money supply to include demand deposits and prepaid funds.

“They didn’t inject new capital. They “recalculated” it to include other deposits and funds. There is no fresh print,” a user on X articulated.

Local media confirms this, indicating that the People’s Bank of China, the country’s central bank, will include these elements starting in 2025.

Crypto and DeFi researcher NFT Bear highlighted that this change led to a dramatic 67.59% increase in reported M1 supply. However, he emphasized that it does not equate to fresh liquidity hitting financial markets.

Historical comparisons to the US’s 2020 money-printing frenzy have also surfaced. The US quickly increased its M1 money supply back then, fueling a 16x surge in altcoin market capitalization.

While China’s current actions differ, some traders speculate that even a fraction of new liquidity flowing into crypto could trigger another bull run.

“Whether or not this translates into another explosive crypto rally remains to be seen. But one thing’s for sure: when a major world economy infuses liquidity—no matter how it’s measured—financial markets tend to take notice, and crypto is often at the center of that conversation,” NFT Bear indicated.  

Despite the uncertainty, some altcoins have outperformed. Projects like Sei (SEI), Sui (SUI), Zksync (ZK), and Story (IP) have attracted attention, possibly signaling emerging narratives in the space.

SEI, SUI, ZK Price Performance
SEI, SUI, ZK Price Performance. Source: TradingView

Whether these gains are sustainable or merely temporary surges in a fragmented market remains to be seen. Nevertheless, analysts agree that the traditional altcoin season metrics no longer apply.

The crypto market is changing, with Bitcoin acting as a paper-based asset through ETFs (exchange-traded funds) and institutional funds. Instead of a broad BTC-to-alt capital rotation, altcoins appear to be carving out independent narratives and utility to attract capital.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Dark Web Criminals Are Selling Binance and Gemini User Data

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More than 100,000 users of popular crypto exchanges Binance and Gemini may be at risk after a trove of sensitive information appeared for sale on the dark web.

The leaked data reportedly includes full names, email addresses, phone numbers, and location details—raising alarms over growing cyber threats in the crypto sector.

Dark Web Actors Are Targeting Crypto Users

On March 27, a dark web user operating under the alias AKM69 listed a large database allegedly tied to Gemini, one of the largest crypto trading platforms in the US.

According to Dark Web Informer, the dataset mainly includes information about users from the United States, with a few entries from Singapore and the United Kingdom. The attacker claims the data could be used for marketing, fraud, or crypto recovery scams.

“The database for sale reportedly includes 100,000 records, each containing full names, emails, phone numbers, and location data of individuals from the United States and a few entries from Singapore and the UK,” the report stated.

It is unclear whether the leak resulted from a direct breach of Gemini’s systems or from other vulnerabilities, such as compromised user accounts or phishing campaigns.

Meanwhile, this incident followed another alarming listing on March 26.

According to the report, a separate dark web actor, kiki88888, allegedly offered a trove of Binance user data for sale. The database is said to hold over 132,000 entries, including the exchange users’ login information.

Threat Actor Selling Binance Users' Data.
Threat Actor Selling Binance Users’ Data. Source: X/Dark Web Informer

The Dark Web Informer suggests phishing attacks likely caused the breach rather than a compromise of the exchange’s systems.

“Some of you really need to stop clicking random stuff,” the Informer stated.

Binance and Gemini have yet to publicly comment on these incidents. However, phishing remains one of the most effective methods cybercriminals use to exploit crypto holders.

Scammers often impersonate official accounts or place misleading ads that redirect users to fake websites. Coinbase users are also being extensively targeted through phishing campaigns.

As BeInCrypto reported earlier, in March, Coinbase users lost over $46 million to social engineering scams.

Blockchain security firm Scam Sniffer revealed that phishing-related losses exceeded $15 million in the first two months of the year. This figure highlights the growing scale of the threat.

Given the rising threats, crypto users should stay vigilant and avoid unfamiliar links. They should also protect their accounts with two-factor authentication and hardware wallets whenever possible.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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South Carolina Could Spend 10% of Funds on Bitcoin Reserve

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Representative Jordan Pace introduced legislation to create a Bitcoin Reserve for South Carolina, joining a nationwide effort. Currently, nearly half of all US states have an active bill to create a similar Reserve.

However, the talking point that this bill “allows 10% of state funds” in Bitcoin investments is taking off like wildfire. It may scare off fiscal conservatives, which contributed to recent failures.

South Carolina Joins the Bitcoin Reserve Race

Since President Trump announced his intention to create a US Bitcoin Reserve, many state governments have attempted to create smaller models.

In the last month, these efforts have been intensifying, with more and more states joining the effort. Today, South Carolina filed its own Bitcoin Reserve bill, allowing the state to make substantial purchases:

“The State Treasurer may invest in digital assets including, but not limited to, Bitcoin with money that is unexpended, unencumbered, or uncommitted. The amount of money that the State Treasurer may invest in digital assets from a fund specified in this section may not exceed ten precent of the total funds under management,” it reads.

State Representative Jordan Pace proposed South Carolina’s Bitcoin Reserve legislation. He claimed that this bill “gives the Treasurer new tools to protect taxpayer dollars from inflation,” one of crypto’s most well-known use cases. Pace is currently the bill’s only sponsor, and it’s unclear what chances it has of passing.

Still, there may be challenges ahead. Similar proposals in other Republican-led states—like Montana and Wyoming—have already failed. This was largely due to concerns over using public funds to buy cryptocurrency.

Even though Trump backs the idea on a national level, not all GOP lawmakers are convinced at the state level.

That said, there are some signs of progress elsewhere. For example, Texas has advanced its Bitcoin Reserve bill, achieving bipartisan support. A key reason for its success is that the bill doesn’t require the state to make crypto purchases; it simply allows them at the Treasurer’s discretion.

Likewise, South Carolina’s bill wouldn’t force the state to invest 10% of its funds into Bitcoin. It just opens the door for that possibility, giving the state financial flexibility rather than a mandate.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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FDIC and CFTC Rescind Old Crypto Guidelines

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The FDIC and CFTC have both been working to change previous crypto guidelines. As federal regulators reconcile with the industry, they are removing old rules that specifically target crypto.

The former institution is removing the requirement that banks report crypto business, while the latter holds crypto to the same standards as other industries.

FDIC and CFTC Change Crypto Policies

The FDIC is one of the top financial regulators in the US, and it’s turning over a new leaf. After being one of the principal architects of Operation Choke Point 2.0, it recently began declassifying documents and changing rules that allowed crypto debanking.

Today, the agency is revoking a 2022 directive that impacted banks’ interactions with crypto:

“With today’s action, the FDIC is turning the page on the flawed approach of the past three years. I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards,” said FDIC Acting Chairman Travis Hill.

Specifically, it rescinded a rule that mandated that all banks and institutions under its supervision notify the FDIC of any crypto involvement. The new guideline claims that banks “may engage in permissible crypto-related activities without receiving prior FDIC approval” without enacting any other policies.

Since Gary Gensler left the SEC, all the top US financial regulators have been trying to rework their relationship with crypto. In an apparent coincidence, the CFTC made a very similar move to the FDIC by rescinding two crypto guidelines.

Both of these actions did not establish a new policy; they merely removed the old ones.

Essentially, both of the CFTC’s rule changes are set to ensure that crypto-related derivatives are subject to the same requirements as non-crypto ones. This is somewhat surprising, considering that the industry has typically tried to insist that it necessitates specific regulations.

However, this is largely beside the point. The FDIC and CFTC are both working to remove previous guidelines that opposed the crypto industry.

These institutions will undoubtedly be amenable to creating new ones in the spirit of cooperation. In the meantime, this olive branch can help build a lot of goodwill.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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