Crypto’s next altseason may have fewer winners: Wintermute

CryptoInfo Editorial Team · Published on July 31, 2026 at 04:46 · Updated on July 31, 2026 · 1 min read

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Key Takeaways

→Institutional investors made up 72% of Wintermute's spot OTC flow in the first half of 2026
→Capital is clustering in fewer tokens, potentially leading to a more selective altcoin rally
→The next altseason may have fewer winners as a result of this trend

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

According to reporting from CoinTelegraph, Wintermute has observed a shift in its spot over-the-counter (OTC) flow, with institutional investors accounting for 72% of the flow in the first half of 2026.

This shift has been accompanied by capital clustering in fewer tokens, which may indicate that the next altseason will have fewer winners, with altcoin rallies becoming more selective.

This trend suggests that institutional investors are becoming more discerning in their investments, focusing on a smaller set of tokens rather than diversifying across a broader range of assets.

Source: CoinTelegraph ↗