Binance, the world's largest cryptocurrency exchange, is witnessing a dramatic shift in trader behavior, with altcoins now accounting for 60% of its total trading volume, overtaking the dominance of Bitcoin (BTC) and Ethereum (ETH). This data, sourced from CryptoQuant, highlights a growing preference for newer, often lower-cap digital assets, reflecting evolving market interests beyond the two major cryptocurrencies.
The surge in altcoin activity is driven by several factors: high volatility offering short-term profit opportunities, market maturity encouraging portfolio diversification into sectors like DeFi and gaming, and lower entry barriers attracting retail investors. Specific altcoins such as ZCash (ZEC) and Aster (ASTER) have been noted as outperformers, boosting overall sector engagement despite the altcoin season index indicating it is still BTC season at 26 points.
Binance's role in this trend is amplified by its record stablecoin liquidity, curated token listings, and involvement of market makers, which facilitate speculative trading. However, traders remain cautious, with inflows concentrated into blue-chip tokens and ecosystems rather than a broad altcoin rally, and some activity shifting to decentralized exchanges like Hyperliquid for derivatives and arbitrage.
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