Important takeouts:
Altcoins accounts for 71% of Binance futures trading volume, indicating a clear shift in traders’ interest from Bitcoin.
Over 32,000 BTCs have participated in the exchange, suggesting profits amid rising volatility and potential Altcoin rotation.
TRX leads Altcoin momentum with early decoupling from BTC, showing fragmented AltSeasons focusing on strong or hyped tokens.
AltSeason continues to gain momentum as daily trading volumes of Binance futures skyrocketed to $100.7 billion. It’s the highest level since February 3rd.
Crypto analyst Maartunn said Bitcoin’s trading volume is relatively stable, but Altcoins is seeing a dramatic increase in activity. Altcoins currently accounts for 71% of the total trading volume of Binance futures as of July 22, highlighting a clear change in traders’ attention from Bitcoin.
Binance remains at the heart of this trend. In the spot market, the total amount of Altcoin for the overall centralized exchange (CEXS) reached $57.6 billion, dealing with $24 billion, or 41.5% of its global share to Binance. This means that almost one in two of the Altcoin spots occurs in Binance, and its advantage increases as Altseason gets hotter.
Related: Ethereum Whale Nets ETH snaps its eight-day winning streak, making $9.87 million profit
On-chain flow shows the distribution of Bitcoin
Bitcoin has also seen its most significant net exchange inflow since July 2024, with over 32,000 BTCs entering CEXS, indicating profit acquisition and potential increase in distribution by key owners. Historically, such inflow spikes have preceded deeper BTC corrections, potentially releasing capital and spinning into altcoins.
As more BTC enters the exchange, market volatility could increase, especially if demand for the Altcoin sector continues to surge. This capital turnover could strengthen the ongoing Altcoin Rally, given past cycles.
However, Crypto analyst Timo Oinonen warned that only a few tokens will benefit from capital inflows. Oinonen points out Tron (TRX) as an early indicator of this “selective settlement,” and focuses on its consistent outperformance against Bitcoin since March, despite BTC continuing to lead annual returns.
TRX began to separate itself from Bitcoin, a common sign that was seen at the start of previous Altseasons. With this sign, capital will move from BTC to higher solid assets in search of a higher upside down.
With over 43.4 million token contracts rolling out across the market, the trading environment is increasingly crowded, suggesting that upcoming AltSeasons could become more fragmented and support a limited set of fundamentally substantial or hype-driven assets.
Related: “The Alto Season is Here” – 5 Things You Need to Know About Bitcoin This Week
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
