CoinEx News: On July 30, 2026, crypto trading firm Wintermute said institutions made up 72% of the trading volume on its large private trading desk in the first half of 2026 — the highest share ever recorded. These big investors traded far fewer different coins than ordinary retail traders. After a coin’s price jumped, they usually slowed down or stopped trading within about one day. At the same time, trading in coin options grew about 3.4 times from late 2025, mostly used by big investors to earn steady income rather than to chase big price rises.

The next altseason is therefore more likely to reward a selected group than repeat the old pattern of nearly every token rising together. Institutional momentum fades faster than retail activity, while liquidity and derivatives concentrate in fewer names. Stronger candidates will need their own catalyst, usable liquidity and sustained positioning; tokens without those supports risk being left behind even when the broader altcoin market rebounds.