Altcoin Exchange Deposits Surge 160% in Two Weeks

Altcoin exchange deposit transactions have surged significantly over the past two weeks, according to data from CryptoQuant. The number of deposits reached 78,000 on September 28, a 160% increase from around 29,800 on September 14. This surge in activity is not necessarily indicative of heavy buying, as CryptoQuant's research head Julio Moreno notes that it may be a sign that holders are preparing to sell.

The total number of addresses sending altcoins to exchanges nearly tripled during this period, from roughly 17,600 to 51,600. However, the exact total is unclear due to discrepancies in the data and lack of information on unique holders and deduplicated addresses. The broader participation in the increase points away from a simple story about one large wallet moving coins.

CryptoQuant interprets this surge as a warning for Bitcoin rather than an altcoin-specific story. They note that Bitcoin holders realized profits on 25,700 BTC on September 22, the largest single day of profit-taking recorded in 2026. Additionally, short-term traders' unrealized profit margin reached 33%, its highest level since December 2024.

The combination of these factors does not settle the market's next move. CryptoQuant still describes the bull market as intact but warns that stretched profit margins, heavy altcoin inflows, and cooling demand could lead to a near-term correction.