Binance altcoin volume hits all-time high levels, past 2021 altcoin season peak

Binance’s altcoin market share has grown to an all-time high of 82.3% of the total altcoin trading volume. According to a CryptoQuant analysis, this record has surpassed the peak levels of the 2021 altcoin season, which recorded highs of 76%.

Market activity data on Binance altcoins showed traders favored altcoins over Bitcoin, shifting the market focus toward non-Bitcoin assets. Tokens such as XPL, ASTR, SOL, ETH, and PUMP have experienced notable gains since July, with ASTR rising by over 250% in the past week following its launch on September 18.

Crypto traders favor altcoins over Bitcoin on Binance 

JA Maartum, a crypto analyst at CryptoQuant, noted that such levels of altcoin dominance have never been recorded before, even during previous bull runs. He pointed out the 20221 bull run, during which Altcoins’ trading volume spiked to 76%, its highest ever during the altcoin season.

Binance Altcoin Volume Share just hit an all-time high: 82.3%

“Even during the 2021 bull run, the altcoin share didn’t reach this level. In May 2021, Altcoin Trading Volume (%) spiked to 76% at its highest. This was during the alt-season.” – By @JA_Maartun pic.twitter.com/NBthmDxwod

— CryptoQuant.com (@cryptoquant_com) September 30, 2025

The CMC Altcoin Season Index shows a 62% favor for the altcoin season. The pattern reveals past cycles in which Bitcoin rallies attracted new money into the market, only for investors to shift towards smaller, riskier tokens in pursuit of larger returns.

The CMC index provides real-time insights into whether the cryptocurrency market is currently in altcoin season, based on the performance of the top 100 altcoins relative to Bitcoin over the past 90 days.

The top three coins pushing the altcoin surge include MYX, which has grown by 13,226.97% over the past 90 days. MemeCore (M) ranks second, with 3,158.69% growth over the past three months, and lastly, Aster, which has grown by 2,030.47% over the same period.

The Altcoin Season Index is defined as “underway” when at least 75% of the top 100 altcoins outperform Bitcoin over the 90 days. 

Traders tend to shift outsized gains toward alternative assets to preserve profits. For example, the 2021 bull run saw large-cap altcoins gain more than 170% compared to Bitcoin’s 2% over the same period. 

Institutional capital fuels altcoin rally with nearly $4B into Ether ETFs

Market sentiment and social media activities also amplify the momentum. The rising prices of Solana ecosystem tokens, including memecoins such as Dogecoin and Pudgy Penguins, have historically shown that they can trigger a surge in online search interest and social media discussions. Google Trends search data for altcoins reached an all-time high on August 13, mirroring the peak in May 2021.

According to a Forbes report, investor speculation about the Federal Reserve’s interest rate cuts in 2025 has also contributed to increased market liquidity, which supports risk-on assets, such as altcoins, when rates are lowered. Following the sharp demand for cryptocurrencies, the current altcoins market cap stands at $1.65 trillion. 

Institutional inflows remain the central pillar driving the current altcoin price cycles. Ether ETFs accumulated nearly $4 billion in inflows in August, while Solana and XRP ETFs accumulated more than $1 billion over the past 12 months.

The SEC’s revision of the ETF regulations is hoped to further capital allocations into altcoins. The SEC ETF listing rules were revised early this month, clearing the path for more than 90 new applications, most of which belong to Solana and XRP, set for approval. 

Binance crypto futures market today shows that approximately 52% of the futures markets favor longs over shorts, with over $10 billion in open interest for BTC against roughly $7 billion in Ethereum. Bitcoin dominates the market over altcoins.

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