Altcoin Trading Volume Surges to Two-Year High on Binance

The cryptocurrency market has seen a significant shift in trading volume, with altcoins capturing 65% of Binance's trading volume during the recent Bitcoin rally. According to CryptoQuant's analysis, this marks the highest level recorded in the last two years.

Bitcoin's share of trading volume on Binance remained at 21%, while Ethereum's share was at 13.6%. The strong rally in recent days has energized altcoins, with the Total2 indicator tracking the total market capitalization of altcoins excluding Ethereum rising by approximately $135 billion.

This increase represents a change in market cap and does not necessarily mean there was an equivalent amount of net capital inflow. The distribution of trading volume on Binance has shifted significantly in favor of altcoins, which may indicate increased demand for riskier assets.