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Altcoin trading volumes drop sharply — CryptoQuant
Altcoin trading volumes on Binance — the largest crypto exchange by this metric — are currently around $7.7 billion, while the combined volume on other major platforms has declined to approximately $18.8 billion. Analysts at CryptoQuant believe that interest in altcoins is decreasing.
Current figures are lower than in February, when altcoin trading volumes on major exchanges reached $35 billion. Analysts attribute the decline to a bearish crypto market cycle as well as broader global uncertainty — conditions that are generally unfavorable for riskier investments.
“Despite the current unfavorable environment, historically the most attractive investment opportunities tend to emerge when market interest is at its lowest and most investors stay on the sidelines,” CryptoQuant experts explained.
The majority of altcoin trading is concentrated on Binance — nearly 40%. MEXC ranks second (7.62%), followed by Bybit (6.07%), according to analysts.
Current levels are several times lower than during more active periods such as February this year and October last year. At peak days in February, Binance recorded $40–50 billion in trading volume, while other exchanges reached $91 billion. CryptoQuant attributes the current altcoin dynamics to investors taking profits and exiting positions after accumulating high-return assets.
Screenshot of altcoin trading volume data (CryptoQuant)
According to Into the Cryptoverse founder Benjamin Cowen, despite the price growth of major altcoins, liquidity tends to flow back into Bitcoin during later stages of the market cycle. Currently, Bitcoin’s market capitalization stands at $1.4 trillion, while the total crypto market cap is $2.4 trillion. This puts Bitcoin’s dominance at approximately 58%.
