Altseason 2025: Neither XRP nor Polygon, this is the altcoin that could surprise the market.

Ethereum continues to emerge as the most promising altcoin of the 2025 altseason. Analysts highlight its growing dominance, institutional support, and potential as a global financial asset.

The crypto market is beginning to show clear signs of recovery, and with it, analysts anticipate the start of a new altseason: that cyclical moment in which altcoins outperform Bitcoin and capture the attention of speculative and institutional capital. 

Although names like XRP and Polygon have been protagonists in previous cycles, this time the focus seems to shift towards a figure that, far from being new, has strongly renewed its narrative: EthereumAfter surpassing $4.900 and cementing its role as key infrastructure for decentralized finance, ETH is positioned as the asset with the greatest potential for appreciation in this cycle. 

Beyond its price, what's surprising about Ethereum is its institutional backing, strategic accumulation by funds and companies, and a narrative that projects it as a global financial asset. In this article, we explore why Ethereum is redefining its leadership among altcoins in 2025.

What is altseason and why does it matter?

La altseason, “altcoin season”, is a recurring phenomenon in the crypto ecosystem that is characterized by a Capital rotation from Bitcoin to alternative cryptocurrenciesThis cycle is typically marked by a decrease in BTC dominance and a significant increase in the performance of tokens such as Ethereum, XRP, Solana, or Polygon. 

Historically, altseason has been an indicator of market maturation, where investors look for opportunities beyond the main cryptocurrency, betting on projects with solid fundamentals, technological utility, or simply greater volatility.

During these periods, capital flows into altcoins that offer differentiated propositions, from scalability solutions to smart contract platforms and beyond, such as the tokenization of real-world assets (RWA). 

Altseason reflects not only a shift in price dynamics but also in the market narrative: the focus is expanding toward ecosystems that build infrastructure, decentralized applications, and innovative governance models. By 2025, analysts note that this rotation has already begun, with signs such as the fall in BTC dominance and the upswing in altcoin volume.

This context matters because it redefines the crypto leadership map. Altcoins are capturing attention not only for their performance, but also for the type of adoption they generate. In previous cycles, XRP stood out for its focus on cross-border payments, while Polygon stood out for its scalability efficiency. However, the current environment seems to favor assets with structural utility, institutional backing, and the ability to integrate with traditional finance. Ethereum, with its consolidation as the base platform for DeFi, NFTs, and tokenization, emerges as the strongest candidate to lead this new altseason.

Ethereum gains ground against Bitcoin

Ethereum has achieved what few expected this week: surpassing $4.900 and setting a new all-time high, while Bitcoin maintains a more stable trajectory currently around $112.000. The rally in ETH's price reflects not only an appreciation in value, but also a transformation in market perception. According to recent data, Ethereum's dominance has increased to 14,4%, while Bitcoin's has decreased to 57,3%. This convergence suggests a redistribution of capital toward assets with greater utility and flexibility.

Daily trading volume on Ethereum has surpassed $36.900 billion, very close to Bitcoin's $37.900 billion. Furthermore, inflows into Ethereum exchange-traded funds are also exceeding those of the leading cryptocurrency, indicating sustained ETH accumulation by investors in the current cycle. 

Ethereum has also gained ground in the futures markets. Open interest has reached $63.000 billion, representing a significant portion of the total crypto derivatives market. This figure reflects growing interest from institutional traders. 

In this context, analysts see Ethereum not only positioning itself as a top-performing altcoin, but also as an asset that could challenge Bitcoin's historical leadership. Its ability to combine capital appreciation with staking yields, along with its central role in crypto infrastructure, are making it the unexpected protagonist of this altseason.

The institutional rise and strategic accumulation of ETH

One of the most decisive factors in Ethereum's rise during this altseason is institutional support. Firms like BlackRock have made significant purchases, accumulating millions of dollars in ETH in recent transactions. BitMine Immersion, meanwhile, has become the largest corporate Ethereum holding company, with over 1,7 million ETH on its balance sheet. These figures reflect not only confidence but also a long-term positioning strategy.

Ethereum-based exchange-traded funds (ETFs) have also gained traction. So far in August, ETH ETFs have seen net inflows of $3.700 billion, far outpacing flows into Bitcoin ETFs, which show a output for $880 million to date. This change in trend has been interpreted by analysts as a sign of market maturity, with Ethereum beginning to consolidate its position as an institutional financial asset.

However, the strategic accumulation of ETH isn't limited to one-time purchases. Analysts are also observing a decline in ETH reserves on exchanges, indicating that investors are moving their assets into cold storage or staking. This dynamic reduces the available supply and can put upward pressure on the price, especially in an environment of rising demand.

Long-term projections and narratives

The narrative around Ethereum has evolved beyond its role as a smart contract platform. Even experts like John E. Deaton, founder of CryptoLawUS, have projected a $10.000 price target for ETH this cycle, based on corporate demand and adoption as a treasury asset. Deaton has compared the current moment of Ethereum with the “ChatGPT moment”, suggesting that ETH is entering a phase of mass adoption.

“I don’t know if ETH can reach $20K or more this cycle, as some people suggest, but with continued inflows, as noted below, along with Joseph Lubin, Andrew Keys, Tom Lee and others accumulating ETH for ETH treasury companies, $10K seems to be quite foreseeable in the future of ETH”, Deaton commented.

This optimistic view is shared by other experts who also highlight Ethereum's role in the tokenization of real assets, a market that could reach $100 billion in the coming years. With an 81% share of this segment, Ethereum is positioned as the dominant infrastructure for the digitization of tangible assets, from real estate to financial instruments.

In short, Ethereum is projected to be an asset that transcends the speculative cycle. Its narrative combines solid fundamentals, institutional adoption, and real utility, making it the prime candidate to lead the 2025 altseason. Beyond price, what's at stake is its consolidation as a benchmark financial asset in the digital ecosystem.