Altcoin Trading Hits New Record on Binance
Altcoin futures trading on Binance has reached an all-time high. Analyst Maartunn from CryptoQuant reports that altcoins now account for 82.3% of all futures volume on the exchange. This surpasses the previous peak of 76% during the 2021 bull run. The data shows a clear shift in trader interest away from Bitcoin.
Popular tokens like $XPL, $ASTR, $SOL, and $PUMP are driving this trend. Traders are attracted by the potential for higher gains compared to Bitcoin. For example, Aster ($ASTR) surged 250% in one week. Maartunn says this explains why many traders prefer altcoin futures over Bitcoin.
Analysts Offer Mixed Views on Market Conditions
Not all analysts see the market as overheated despite the strong altcoin volume. Joao Wedson noted on X that only 24% of Binance altcoins trade above their 200-day simple moving average (SMA). He explained that when most altcoins rise above this level, markets often hit euphoric cycle tops. Wedson said the market is still far from that point, indicating a possible accumulation phase.
Meanwhile, analyst Merlijn The Trader observed that altcoins are breaking out against Bitcoin. His chart shows altcoins underperformed Bitcoin since 2022, with failed breakout attempts in 2022 and 2024. However, 2025 may mark a reversal as altcoins approach a decisive breakout. Merlijn wrote, “Bitcoin dominance cracks. Altcoins step into their supercycle. The rotation is written. Don’t fade it.”
Broader Market Factors Support Altcoin Momentum
Several broader factors are adding momentum to the crypto market. The “Uptober” effect historically boosts crypto performance in October. Upcoming ETF deadlines also raise hopes for new institutional capital.
Bitcoin whales have been accumulating since Sunday. Some expect corrections, but Bitcoin could soon test $116,000 or $118,800. Macro conditions are favorable as well. The U.S. Federal Reserve cut interest rates in September and may cut again in October. These liquidity injections often benefit risk assets like cryptocurrencies.
Altcoins are gaining attention on Binance. With supportive market conditions, they may be preparing for a significant rally.
