- CryptoQuant reports altcoins captured 65% of Binance trading volume, reaching their highest dominance in two years.
- CryptoQuant says Total2 gained about $135 billion as altcoin activity increased following Bitcoin’s sharp rally.
- Ash Crypto says altcoin market capitalization rose 23%, but Bitcoin dominance above 60% leaves a broader altcoin season unconfirmed.
Altcoins have captured a larger share of crypto trading activity after Bitcoin posted a sharp rally. CryptoQuant reported altcoin volume dominance reached 65% on Binance, its highest level in two years. Total2, excluding Ethereum, also gained about $135 billion as capital moved into altcoins.
Altcoins Capture More Trading Volume
Bitcoin gained nearly 30% at its maximum over the past few days. Altcoins followed the move, while their trading activity rose faster. On Binance, altcoins accounted for as much as 65% of total trading volume.
CryptoQuant said Binance handles nearly 40% of altcoin volume across exchanges. At that point, Bitcoin represented 21% of Binance volume. Ethereum accounted for 13.6%, leaving altcoins with the largest share.
Meanwhile, Total2 increased by about $135 billion. CryptoQuant said the move came after subdued volume and low volatility.
Altcoin Market Cap Rises 23%
Analyst Ash Crypto also reported stronger movement across the altcoin market last week. Altcoin market capitalization rose 23%, its strongest weekly move in months. According to Ash Crypto, the market bounced from 1,000-day support and broke above a descending trendline.
However, Bitcoin dominance remains above 60%. That level continues to favor Bitcoin and high-cap cryptocurrencies. Ash Crypto said a broader altcoin season likely requires Bitcoin dominance below 58%.
Therefore, he said the market structure has improved, but the rotation remains unconfirmed. The volume data provides another measure of recent activity.
Bitcoin, Ethereum and Solana Roles
Altcoin Daily separately described the roles of Bitcoin, Ethereum and Solana. It said Bitcoin is showing digital scarcity can function as money. The account said Ethereum is bringing finance onchain. It also described Solana as moving crypto at internet speed.
However, the CryptoQuant and Ash Crypto figures focus on market activity and structure. CryptoQuant measured trading volume and market capitalization, while Ash Crypto examined Bitcoin dominance and price structure.
The reported figures place altcoins at 65% of Binance volume. Altcoin market capitalization also rose 23% last week, according to Ash Crypto.
