Altcoin Trading Surge
Altcoin Spot Trading Volume Climbs to Nearly Four Times Bitcoin
Anonymous
Key Points
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Glassnode’s earlier weekly report found that 72.5% of tracked altcoins outperformed Bitcoin in the week through Sept. 22, up from a peak of 39% during the August squeeze.
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Although altcoin spot volume had more than doubled from its August low—a 121% increase since the rally began—the seven-day average was still about 30% below its level a year earlier.
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Darkfost said the weekly average of altcoin deposit transactions had topped 22,700 on Binance and 8,300 on Coinbase, with about 32,000 more across other exchanges; he added that inflows remained modest compared with the start of the prior bull cycle.
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The broader crypto market excluding Bitcoin, but including Ethereum, had added more than $371 billion since June, a gain of roughly 45%, with TradingView placing its total market capitalization near $1.17 trillion.
Altcoin spot-trading volume has surged to nearly four times Bitcoin's level, hitting its highest ratio in roughly a year Glassnode. The shift signals traders are pouring money into riskier cryptocurrencies, with the Altcoin Season Index climbing to 62% and 87% of Binance-listed altcoins trading above their 200-day moving averages CryptoRank.
The rally has been fueled mainly by spot buying rather than leveraged bets, but rising altcoin deposits to exchanges could signal greater selling pressure ahead FXStreet. Glassnode notes that elevated altcoin demand has sometimes coincided with local Bitcoin tops, though volume shifts alone don't confirm a reversal is coming.
Altcoins Dramatically Outpacing Bitcoin in Weekly Performance
Nearly three-quarters of tracked altcoins beat Bitcoin over the week through September 22, according to Glassnode. That 72.5% outperformance rate marks a sharp jump from August, when just 39% of altcoins surpassed Bitcoin. The broader crypto market excluding Bitcoin but including Ethereum has added more than $371 billion since June—a 45% gain—pushing total market capitalization near $1.17 trillion TradingView.
Volume Surge Remains Below Prior Bull-Market Peaks
Altcoin spot volume more than doubled from its August low, a 121% jump since the rally began CryptoRank. However, the seven-day average remains roughly 30% below its level a year earlier. This suggests the current surge, while notable, hasn't yet matched the intensity of prior bull cycles in pure volume terms.
Massive Altcoin Deposits Signal Potential Selling Risk Ahead
Altcoin deposit transactions have reached elevated levels across major exchanges. Darkfost reported weekly averages topping 22,700 on Binance and 8,300 on Coinbase, with approximately 32,000 more spread across other platforms. While these inflows remain modest compared with the start of the prior bull cycle, the trend suggests traders may be positioning to exit positions HokaNews.
Pattern Mirrors October 2025 Top Before Market Correction
Altcoin traders are repeating patterns last seen before October 2025's market peak, with spot volume and exchange deposits hitting levels unseen since that previous top FXStreet. CryptoQuant notes that Bitcoin itself shows "signs of fatigue" despite being in a confirmed bull market around $83,500. The convergence of altcoin extremes and Bitcoin weakness raises questions about whether the current rally can sustain.
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