Binance Altcoin Volume Hits Record High of 82.3%
Binance's altcoin volume share has reached an all-time high of 82.3%, as reported by CryptoQuant. This surpasses the previous peak of 76% during the alt-season in May 2021.
Key Points
- The increase in Binance's altcoin volume indicates a shift from Bitcoin [BTC] dominance to altcoins in futures trading.
- Prominent altcoins contributing to this spike include Plasma (XPL), Astar (ASTR), Solana [SOL], and Pump.Fun (PUMP).
- Plasma's XPL token surged by 35%, supported by over $3.14 billion in Total Value Locked (TVL) and partnerships.
- PUMP token achieved a 69% weekly gain, showcasing notable market interest.
- Solana's price recently fluctuated around $206, with prior expectations of reaching $300.
These developments highlight growing investor interest in altcoin markets on Binance, driven by strong performances from specific tokens and strategic partnerships.