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BTC 
ETH The proportion of altcoins trading in the currency has soared to a two-year high, thanks to the overall strong rebound in the cryptocurrency market. Blockchain analyst firm CryptoQuant reported that these digital assets accounted for 65% of Binance trading volume at their recent peak, marking a significant change in market dynamics.
Altcoin inflows climbed during the rise of Bitcoin
According to data shared by CryptoQuant analyst Darkfost, the recent price increase in Bitcoin has coincided with a strong expansion in altcoin activity and market value. In a short period of time, the price of Bitcoin has increased by nearly 30%, while the total market value of altcoins excluding Ethereum has increased by approximately US$135 billion.
Darkfost uses the Total2 index, which tracks the total market value of all cryptocurrencies except Bitcoin and Ethereum, to measure the flow of funds into the altcoin sector. This increase highlights the rapid influx of money not only into Bitcoin, but also into a variety of other digital assets.
This trend is particularly evident in Binance-as the world's largest cryptocurrency exchange by trading volume, Binance accounts for 65% of altcoin trading volume. The change stems from market participants shifting funds away from mainstream assets to smaller cryptocurrencies.
CryptoQuant's analysis points out that Binance accounts for nearly 40% of altcoin transactions on global exchanges, so these trading volume changes are particularly noteworthy for assessing overall market trends.
At the peak of altcoin dominance, Bitcoin accounted for only 21% of Binance trading volume, while Ethereum accounted for 13.6%. This apparent divergence suggests a significant shift in trader preferences during the rally.
Asset Binan trading volume as a percentage ( %)
Altcoins (excluding Ethereum) 65
Bitcoin 21
Ethereum 13.6
CryptoQuant pointed out that Binan trading volume as a percentage of altcoins in Binan rose to 65%, the highest level in the past two years, due to the rapid rotation of funds from mainstream currencies to alternative cryptocurrencies.
Redistribution of market liquidity
This trend follows a period of relatively low volatility and sluggish trading activity. CryptoQuant's research shows that Bitcoin's first rise of nearly 30% triggered changes, but subsequent changes in trading patterns mainly benefited altcoins.
Data from theTotal2 index highlights the scale of this shift, showing that the market value of altcoins has increased by US$135 billion. This calculation excludes Ethereum, allowing analysts to focus on lower-profile currencies and tokens.
Liquidity changes are not limited to trading volume. According to Darkfost, the sharp increase in funds allocated to altcoins reflects the redistribution of liquidity within the crypto ecosystem.
CryptoQuant did not specify which specific altcoins received the largest share of capital inflows. The company highlighted increased activity across the entire altcoin category, with traders no longer limited to Bitcoin and Ethereum, but moving towards more diversified assets.
Market observers point out that these developments have reversed the previous market landscape where trading activity was mainly concentrated in Bitcoin and Ethereum. Current data shows that the participation of altcoins among cryptocurrency traders has expanded significantly.
The Total2 Index is a cryptocurrency market cap index that excludes Bitcoin and Ethereum and is often used to analyze the flow of funds between other digital assets to provide deeper insight into trends in alternative currencies.
Darkfost pointed out when commenting on the continued rise in the proportion of altcoin transactions in Binhang, while the decline in the share of Bitcoin and Ethereum: "This divergence fully illustrates how current liquidity is redistributed in the market."
