Altcoins Claim Two-Year High in Trading Volume Dominance

Altcoins dominated trading activity on Binance, reaching their largest share of volume in two years. According to an analysis by CryptoQuant, altcoins captured 65% of trading volume as bitcoin accounted for 21% and ether represented 13.6%. This shift followed a sharp advance in bitcoin prices that drew liquidity back into cryptocurrency markets.

Bitcoin crossed $81,000 on August 25 after gaining nearly 30% during the broader rally period referenced by the analyst. The analysis suggests that altcoins have captured investors' attention and capital, potentially signaling a broader resurgence of risk appetite across the market.

The increase in altcoin trading volume was accompanied by an increase in market capitalization, which added approximately $135 billion to the entire crypto market. The combined capitalization of the crypto market lifted to nearly $2.74 trillion during the third week of August.