Streams of altcoins on Binance, the world’s largest cryptocurrency exchange in terms of trading, reached many months of maximums, according to the latest data from Cryptoquant
Despite the active trade, the altcoin season index remains at 35. However, analysts believe that the altcoin season may come soon.
More altcoin moves to binance
Maartunn, an analyst with the Cryptoquant community, recently emphasized that altcoin deposits have remained stable in recent months, with slight changes in activity, while the price of bitcoin moved in the side trend.
However, recently deposits began to grow, and the number of transactions in seven days exceeded 45,000 – the highest level from the end of 2024.
The analyst added that the increase in the activity of altcoins follows a recent jump in the price of bitcoin, which recently exceeded $ 112,000. This movement attracted more attention to altcoin. However, an increase in capital flows on the exchange usually indicates the pressure of sales, and not an interest in purchases.
Cryptoquant data showed a noticeable increase in the number of addresses and transactions for altcoin flows. This indicates increased trade activity in the altcoin market.
Despite this, the altcoin season index has not yet confirmed the return of Alseson. This index tracks the performance of 50 leading cryptocurrencies (excluding stablecoins and wrapped tokens) compared to bitcoin in 90 days and declares altsyzone when 75% of these coins surpass Bitcoin.
The current indicators do not reach this level, which indicates the ongoing dominance of bitcoin in market moods.
In addition, one trader and analyst believes that altsyzone ended due to an excess of altcoins, insufficient liquidity and scattered attention of retail investors.
In his opinion, instead of a wide rally, altcoins are now coming up “The season of narratives” when only the most popular projects flourish.
Nevertheless, other analysts remain optimistic and believe that altsyzon is just around the corner.
Another analyst noted that although Alseson has not yet come, the conditions begin to form. She suggested that September could be a key month for a breakthrough.
We also note that the altcoin market is moving in unison with shares of American companies with low capitalization. These shares are considered risky, but can bring high profitability. With an increase in optimism among small businesses, altcoins have more opportunities for growth.
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Source: Cryptocurrency
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