$100B Binance Futures volume backs traders’ ‘altseason’ claim
Main Idea
Altcoin trading volume on Binance Futures has surged to $100.7 billion, with altcoins making up 71% of total volume, signaling a potential 'altseason' as Bitcoin's dominance wanes.
Key Points
1. Binance Futures volume reached $100.7 billion, with altcoins accounting for 71% of the total trading volume.
2. Centralized exchanges (CEXs) saw $57.6 billion in altcoin spot trading volume, with Binance handling $24 billion (41.5% of global share).
3. Over 32,000 BTC entered exchanges in 2024, indicating increased profit-taking and potential distribution by major holders, which may lead to higher market volatility.
4. Crypto analyst Timo Oinonen noted that only a few tokens might benefit from the capital influx, with TRX showing signs of decoupling from Bitcoin.
5. The article highlights renewed retail interest in altcoins as Bitcoin's trading volume remains stagnant.
Description
Altseason takes center stage as 71% of Binance Futures volume are altcoins.
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