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Altcoins account for over 60% of Binance trading, Alan Rogers notes

Altcoins account for over 60% of Binance trading, Alan Rogers notes
Altcoins lead Binance volume, Bitcoin falls

Alan Rogers provides a market snapshot highlighting current cryptocurrency trends. Bitcoin trades at $63.7K and Ethereum at $1.86K, with the crypto market cap at $2.268 trillion.

Altcoins have surged, constituting over 60% of trading volume on Binance, while Bitcoin and Ethereum volumes stand at 22% and 18% respectively, according to CryptoQuant. Additionally, 500 BTC and another 746 BTC have reportedly remained untouched for more than a decade.

In earlier reports, Alan Rogers observed that August tends to show more red closes for Bitcoin, marking it as a historically weak month for the asset class (see article). He also reported on Robinhood's launch of a DeFi chain that quickly secured $80 million in total value locked and $800 million in DEX volume (full details). These prior updates provide context for current trading patterns across the digital asset market.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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