Altcoin trading volume hits two-year high amid market surge

Altcoin trading volume and market capitalization have seen a significant surge, with altcoins reaching a two-year high in volume dominance on Binance. At its peak, altcoins accounted for 65% of total trading volume on the exchange, while Bitcoin and Ethereum represented 21% and 13.6%, respectively.

Total altcoin market capitalization, excluding Ethereum, increased by approximately $135 billion during a recent period of market activity. Some reports indicate the total altcoin market cap (TOTAL2) rose above $1 trillion, climbing from previous levels near $880 billion. This movement follows a period of low volatility and is characterized by a redistribution of liquidity toward mid- and small-cap assets.

Despite this growth, Bitcoin dominance remains strong at approximately 60.25%, suggesting that Bitcoin still controls the majority of the total cryptocurrency market. Analysts note that a definitive ‘altseason’ typically requires Bitcoin dominance to fall as capital rotates into alternative assets, a trend that has not yet fully materialized as Bitcoin and altcoins remain closely correlated.