Why Altcoin Selling Hit Record Highs in June – and What's Next

Altcoin selling pressure reached an all-time high in early June, surpassing the depths of the 2022 bear market. Cryptopolitan reported that the selling accelerated as retail holders exited after years of sliding prices with no recovery.

The selling was not uniform. It hit legacy tokens, venture-backed projects, and platforms with thin fee revenue hardest. Excluding Ethereum, the decline was concentrated on assets that had no real user demand. CoinMarketCap data showed the altcoin season index settled at 49 points, a neutral reading that reflected no clear tilt toward Bitcoin or smaller tokens. Only 36 of the top 100 assets recorded net gains over the past three months.

Binance provided an interesting counterpoint. Altcoin volume on the exchange rose above 50% of total activity in the first week of June, up from local lows near 30% in March, according to Cryptoquant metrics. The gain did not signal a broad revival. It reflected speculative trading on a narrow set of names. Bitcoin (BTC) profile and Ethereum (ETH) profile activity on Binance slowed during the same period.

A handful of tokens bucked the trend. Solana traded more than 70% below its all-time peak but remained relatively stable compared to peers. On-chain data suggested that real fee generation and active user bases helped BNB and Hyperliquid hold up. HYPE recently posted new records above $75. The move reflected ongoing demand for tokens tied to platforms with actual revenue, analysts noted.