Altcoin trading on Binance has hit a new record. Analyst Maartunn from CryptoQuant says altcoins now make up 82.3% of all futures trading on the exchange. That’s the biggest share ever, showing just how much attention has shifted away from Bitcoin. Even during the wild bull run of 2021, altcoins didn’t dominate this much. Their share reached a peak of 76% at that time.
Tokens like $XPL, $ASTR, $SOL, and $PUMP are highly preferred by traders. The appetite comes from the expectation of outsized gains compared to Bitcoin. For instance, Aster recently surged 250% in just one week. According to him, this explains why many traders now prefer altcoins over Bitcoin futures.
Analysts see different signals
Despite the strong numbers, not every analyst believes the market is overheated. Analyst Joao Wedson noted on X that only 24% of Binance altcoins trade above their 200-day SMA. He explained that when nearly all altcoins move above this level, markets often reach euphoric conditions tied to cycle tops. “Right now, we’re still far from euphoria,” Wedson said, suggesting this phase may present a strong accumulation window.
Meanwhile, analyst Merlijn The Trader observed that altcoins are “breaking out against Bitcoin right now.” His chart shows that altcoins have been underperforming Bitcoin since 2022. Failed attempts in 2022 and 2024 kept them locked in a long downtrend.
However, 2025 may finally mark a reversal as the trendline nears a decisive breakout. “Bitcoin dominance cracks. Altcoins step into their supercycle. The rotation is written. Don’t fade it,” Merlijn wrote.
Broader market context
Besides these structural shifts, broader forces add momentum. The well-known “Uptober” effect has historically boosted crypto performance in October. Moreover, several ETF deadlines are approaching, raising expectations for fresh institutional capital.
Additionally, Bitcoin whales have been accumulating since Sunday. While some expect corrections, Bitcoin could test $116,000 or even $118,800 soon.
Macro conditions also support risk assets. The U.S. Federal Reserve cut interest rates in September and may cut again in October. Liquidity injections often benefit crypto markets, making altcoins more attractive.
Altcoins are finally taking the spotlight on Binance. With the right conditions in place, they could be gearing up for their biggest run yet.