A sharp increase in altcoin inflows to major centralized exchanges has drawn attention as traders position ahead of two key macro events: the U.S. Senate’s cloture vote on the CLARITY Act and the Federal Reserve’s September interest rate decision.
According to CryptoQuant analyst Darkfost, the seven-day moving average of altcoin deposit transactions on Binance has climbed to 31,800, up from about 8,300 in July. That represents an increase of roughly 3.8 times. Activity also rose on other major venues, with Coinbase altcoin deposits increasing from about 2,200 to 4,700 transactions, while Bybit’s count reached around 2,700.
The increase in exchange inflows coincided with a broad altcoin rally. TOTAL3, an indicator that tracks the combined market capitalization of cryptocurrencies excluding Bitcoin and Ethereum, gained more than $136 billion during the period.
Darkfost linked the higher activity to this week’s scheduled events. The U.S. Senate’s cloture vote on the CLARITY Act is expected imminently, and the Federal Open Market Committee meeting is set for Wednesday, September 16. Current projections put the odds of a rate hike at 92%.
The analyst cautioned that while the rise in altcoin inflows alone does not indicate extraordinary selling pressure, it may be connected to selling pressure that needs to be considered. He noted that market uncertainty persists and that the amount of altcoins flowing into exchanges should be watched closely in the coming days, especially as traders may take quick profits.
Meanwhile, the total cryptocurrency market capitalization excluding the top 10 assets stands near $202.27 billion. The latest hourly candle opened at $202.53 billion, reached $202.54 billion, and fell to $202.24 billion. The market declined by $252.03 million, or 0.12%, while volume reached approximately $13.53 billion. Support remains near $202 billion, followed by $197.5 billion to $200 billion. Resistance sits at $205 billion, then $207.5 billion to $210 billion. RSI is at 42.40, below its 49.70 moving average and the neutral 50 level. MACD is negative at $258.67 million, with a signal line of $121.82 million and a histogram of negative $380.49 million.
This is not investment advice.
