Altcoins accounted for 65% of Binance trading volume during the rally, their largest share in two years, while bitcoin represented 21% and ether 13.6%, according to Cryptoquant. Bitcoin crossed $81,000 on Aug. 25 after gaining nearly 30% during the broader rally period, but the shift in trading concentration indicated that altcoins generated more turnover as market activity expanded. Altcoin market capitalization rose by approximately $135 billion, contributing to a roughly $500 billion recovery in total crypto market capitalization to nearly $2.74 trillion during the third week of August. Ether gained 31.2% over seven days, while some tokens posted gains approaching 100%, although many remained well below previous record prices. The Blockchaincenter Altcoin Season Index stood at 37 on Aug. 26, below the 75 threshold required for an altcoin season. Elevated volume shows greater trading activity but does not independently prove equivalent new capital inflows or a direct rotation from bitcoin into altcoins. The CFTC (U.S. derivatives regulator) has warned of flash crashes, manipulation, limited oversight and inadequate customer safeguards in some virtual currency spot markets. The SEC (U.S. securities regulator) separately lists volatility, illiquidity, concentrated ownership and limited protections among risks for crypto asset securities, a category that does not cover every altcoin. The latest increase contrasts with Cryptoquant’s June assessment that bitcoin-to-altcoin rotation had largely disappeared, with BTC-pair altcoin volume at its lowest level since 2021 as institutional liquidity remained concentrated in bitcoin.