Altcoin trading volume tops 65% on Binance, but season index still says no

Something unusual happened on Binance last week: for a brief stretch, bitcoin stopped being the center of gravity. Altcoin trading volume surged to its highest share of exchange activity in two years, according to data published by Cryptoquant on August 25, as traders piled into smaller tokens while the broader crypto market pushed higher.

Key takeaways

• Altcoins accounted for 65% of Binance trading volume, the highest share in two years, per Cryptoquant.
• Bitcoin and ether held 21% and 13.6% of that same trading volume during the rally.
• Altcoin market capitalization rose by roughly $135 billion during the same window.
• The total crypto market added close to $500 billion, nearing $2.74 trillion by the third week of August.
• The Altcoin Season Index sat at 37, well below the 75 threshold needed to confirm a genuine altcoin season.

Altcoin Trading Volume Peaks on Binance Amid Rally

Altcoins captured 65% of Binance trading volume at the height of the rally, the largest slice recorded in two years, based on Cryptoquant’s analysis. Bitcoin held 21% of that volume, while ether accounted for 13.6%, leaving the rest of the market cap spread across smaller tokens that typically see far sharper price swings.

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