Altcoins capture 65% of Binance trading volume during crypto rally

Altcoins reached 65% of Binance trading volume during the latest crypto market rally, their highest share in two years, while Bitcoin accounted for 21% and ether 13.6%. The shift came as Bitcoin crossed $81,000 on August 25 after gaining close to 30% during the rally. Altcoin market capitalization rose by about $135 billion, while the wider crypto market added roughly $500 billion to reach nearly $2.74 trillion in the third week of August. Some altcoins gained close to 100%, and ether rose 31.2% over seven days, although many tokens remained well below previous record prices. The Blockchaincenter Altcoin Season Index was 37 on August 26, far below the 75 threshold requiring 75% of the top 50 coins to outperform Bitcoin over 90 days. The data, published by Cryptoquant on August 25, indicates a sharp increase in altcoin trading activity but does not prove that new money entered the market or moved directly from Bitcoin into altcoins. Regulators including the CFTC (U.S. derivatives regulator) and the SEC (U.S. securities regulator) have warned about volatility, limited oversight, illiquidity, weak customer protections and concentrated ownership in crypto markets.

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