Altseason may not be official yet — but the rotation has begun. 🌊

And this cycle, the market looks more selective than speculative:

• 📊 Top gainers span DeFi, privacy, AI & launchpads — no single obvious trade
• 💡 Curve's Michael Egorov sees rising institutional demand for protocols that actually do something useful
• 🏗️ Crypto infrastructure → real economy integration could fuel the next leg

Buyers are participating "selectively rather than going all-in."

• 📉 Dealers' altcoin participation fell from ~65% (end 2024) → ~32% (Sept)
• 🛠️ Easier access via mainstream platforms is broadening retail entry