3 Reasons Why This DeFi Subcategory Could Lead the Next Altcoin Season

Decentralized Exchanges (DEXs) are identified as the DeFi subcategory most likely to lead the next altcoin season based on three key indicators. First, DEX trading volume share against centralized exchanges (CEXs) for both spot and perpetuals has been consistently rising, indicating growing on-chain adoption despite weak market conditions. Second, large investors ("whales") are quietly accumulating major DEX tokens like Uniswap (UNI), Aster (ASTER), and PancakeSwap (CAKE) while prices are weak, signaling strong underlying confidence. Third, key DEX tokens are showing a negative correlation with Bitcoin, meaning they can attract early speculative flows when Bitcoin stalls or pulls back, which is a common trait of early altcoin leaders. Although the overall Altcoin Season Index suggests the season has not officially begun, the combination of increasing on-chain activity, strong whale demand, and price decoupling from Bitcoin positions DEX tokens strongly for an early rotation when market sentiment improves.

(Source：BeInCrypto)