Binance altcoin deposits nearly quadruple to 31,800 transactions

  • Binance recorded a sharp increase in altcoin deposit transactions, CryptoQuant analyst Darkfost said.
  • 31,800 transactions marked Binance’s seven-day average, versus 8,300 in July.
  • TOTAL3 gained more than $136 billion as the Clarity Act and Federal Reserve decision approached.

Altcoin deposit activity on Binance has risen sharply ahead of the U.S. Senate’s procedural vote on the Clarity Act and the Federal Reserve’s September interest rate decision. CryptoQuant analyst Darkfost said Binance’s seven-day moving average of altcoin deposit transactions reached 31,800, about 3.8 times July’s 8,300 average. Coinbase deposits increased from about 2,200 to 4,700, while Bybit rose to around 2,700. The activity coincided with a gain of more than $136 billion in TOTAL3, which measures the combined market capitalization of cryptocurrencies excluding Bitcoin and Ethereum. Darkfost said rising exchange inflows do not by themselves prove extraordinary selling pressure, but warned that continued uncertainty could encourage profit-taking. He said the trend in altcoins moving onto exchanges should be monitored in the coming days and cautioned that the increase could be linked to selling pressure. This is not investment advice.

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