Crypto▲ Bullish
Altcoins Hit 65% of Binance Volume, Highest in Two Years
Altcoins accounted for nearly 65% of Binance trading volumes during the recent rally, their highest share since 2022. The altcoin season index sits at 37, signaling the move is not yet broad-based.
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Altcoins accounted for nearly 65% of trading volumes on Binance during the recent market rally, their highest share in two years. The figure comes from an analysis published by CryptoQuant on Aug. 25, which also showed Bitcoin representing 21% of exchange transactions and Ether 13.6%. The combined share of other cryptocurrencies was roughly three times that of the two largest assets combined.
The volume surge coincided with a broader rally that pushed Bitcoin above $81,000 on Aug. 25, a gain of about 30% from its recent lows. The cumulative market capitalization of altcoins rose by roughly $135 billion over the same period, part of a wider recovery that added about $500 billion to the total crypto market, which reached nearly $2.74 trillion, its highest since May.
Zcash gained nearly 70% in a week, briefly exceeding $873. XRP rose 51%, and Hyperliquid’s HYPE hit a record $82.43, according to market data. Those moves contributed to the increase in altcoin valuations, though the $135 billion figure does not represent net new investment. Market capitalization is price multiplied by circulating supply; a price increase on a small fraction of traded tokens can inflate the theoretical value of the entire supply. Volume measures total transaction value, and the same capital can be counted multiple times when traders buy and sell the same asset.