Altcoins Dominate Binance as $135B Floods Crypto Market
Altcoins have taken over Binance as $135 billion floods the crypto market. The surge in altcoin trading volume marks its strongest dominance in two years, reaching 65% of total trading activity on the platform.
The data comes from CryptoQuant's analysis, which shows that Bitcoin accounted for only 21% of Binance's trading volume at the peak, while Ethereum made up another 13.6%. The shift in capital flow has pushed Bitcoin and Ethereum into the background as altcoins capture a larger share of exchange activity.
CryptoQuant analyst Darkfost attributed the stronger response across the altcoin market to Bitcoin's rally, which triggered a rapid increase in capital flowing into these assets. According to Total2, a measure that excludes Ethereum, the combined market value of altcoins has increased by approximately $135 billion within a short period.