Altcoin exchange deposits soar 160%—is a sell-off looming?

4.4 Markets

Sep 30, 2026

Altcoin exchange deposits soared 160% in two weeks, hitting 78,000 transactions. Depositing addresses nearly tripled, signaling possible sell pressure, though immediate selling is not confirmed.

Altcoin exchange deposits surged by approximately 160% over the two weeks ending September 28, 2026, reaching a seven-day total of 78,000 transactions—the highest since October 2025. During this period, the number of unique addresses depositing altcoins to exchanges nearly tripled, rising from about 17,600 to 51,600. This broad-based increase suggests that a wider group of holders may be preparing to sell. However, while spikes in exchange deposits often precede increased sell-side pressure, analysts from CryptoQuant and other sources caution that this does not guarantee immediate market-wide selling. The surge coincides with strong altcoin market performance, as many Binance-listed altcoins trade above their 200-day moving averages and the Total2 market capitalization metric has risen sharply since June. Despite some discrepancies in transaction and address counts across reports, the overall trend points to increased participation and potential caution for the altcoin market.