Altcoin Trading Volume Surges to Highest Level in a Year, Outpacing Bitcoin

Recent data from the on-chain analytics firm Glassnode reveals that altcoin spot trading volume has surged to nearly four times that of Bitcoin, marking the highest ratio since September 2025. This significant increase indicates a growing dominance of altcoins in the cryptocurrency market, with the Altcoin Season Index rising to 62% by late September, up from 50% just a week earlier and 33% a month prior.

In the week ending September 22, approximately 72.5% of altcoins tracked by Glassnode outperformed Bitcoin, a notable increase compared to just 39% during a similar surge in August. Furthermore, 87% of altcoins listed on the Binance exchange were trading above their 200-day moving averages, suggesting strong market momentum for these alternative cryptocurrencies.

Despite the surge in spot trading activity, the open interest in altcoin perpetual futures has shown little growth over the past month. This divergence contrasts with previous market peaks in February 2021 and December 2024, which were characterized by significant increases in leveraged positions. Additionally, Glassnode reported a rise in altcoin deposits to exchanges, a trend often associated with impending selling as traders prepare to convert assets to cash or stablecoins.

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Source: KLEA News