Altcoins seize 65% of Binance volume as $135B flows in

Altcoins now hold 65% of Binance trading volume, their highest in two years, as $135B entered the sector. This shift from Bitcoin and Ethereum pushed the crypto market's value to $2.74 trillion.

Altcoins have surged to capture 65% of Binance's trading volume, marking their highest dominance in two years as $135 billion flowed into the sector during a recent market rally. This shift occurred alongside Bitcoin's nearly 30% price increase, but altcoins outperformed both Bitcoin and Ethereum in trading activity and market capitalization growth. On August 25, Bitcoin's share of Binance volume dropped to 21%, while Ethereum accounted for 13.6%. The influx of capital into altcoins signals a significant redistribution of liquidity, with traders seeking higher-yield opportunities beyond the leading cryptocurrencies. The broader crypto market's aggregate valuation climbed to $2.74 trillion, with several tokens posting gains close to 100% over the week. Despite these advances, most altcoins remain below their previous all-time highs. Analysts warn that such sharp shifts in trading concentration can heighten market volatility, and regulators have cautioned about potential risks in virtual currency spot markets.