Altcoins Dominate Binance Trading Volume as Bitcoin Rally Falters
Altcoin trading volume on Binance reached a two-year high, accounting for 65% of the exchange's activity during the recent rally. This marks the largest share since altcoins have been tracked by Cryptoquant.
The surge in trading volume coincided with a strong run-up in prices, with bitcoin surpassing $81,000 on August 25 after gaining nearly 30% during the rally period.
As bitcoin's own share of trading activity shrank, altcoins generated far more turnover than the flagship cryptocurrency itself. Traders moved quickly into smaller tokens as prices climbed, chasing momentum rather than sticking with bitcoin alone.
The volume spike came with real balance-sheet gains, with altcoin market capitalization climbing by about $135 billion over the same stretch.