$100B Binance Futures Volume Strengthens Belief in Altseason

Altseason is taking the spotlight as altcoins now account for 71% of total trading volume on Binance Futures, with daily activity soaring to $100.7 billion — the highest level since February 3.

This trading frenzy followed Bitcoin’s breakout to new highs in July, sparking renewed retail interest in the altcoin market. Analyst Maartunn noted that while Bitcoin’s volume has remained steady, altcoins are seeing a significant surge in activity, signaling a clear shift in investor focus.

Binance remains at the center of this movement. On the spot market, total altcoin volume across centralized exchanges (CEXs) reached $57.6 billion, with Binance handling $24 billion — a 41.5% global market share. In other words, nearly one in every two spot altcoin trades now takes place on Binance.

On-chain data suggests Bitcoin distribution may be underway. Over 32,000 BTC were transferred to centralized exchanges — the highest inflow since July 2024 — indicating increased profit-taking and potential redistribution by large holders. Historically, such inflows often precede deeper corrections in BTC and may release capital to flow into altcoins.

This potential capital rotation could fuel the ongoing altcoin rally, especially if past market cycles repeat. However, analyst Timo Oinonen warned that only a select few tokens might benefit from this influx. He referred to Tron (TRX) as an early sign of a “selective altseason,” noting its consistent outperformance against Bitcoin since March, despite BTC leading year-to-date gains.

TRX has started to decouple from Bitcoin — a pattern often seen at the beginning of previous altseasons, where capital moves from safer assets like BTC to higher-beta altcoins in pursuit of greater returns.

Still, with over 43.4 million token contracts deployed across the market, the trading space is becoming increasingly saturated. This suggests the coming altseason may be more fragmented than in the past, favoring only a handful of fundamentally strong or hype-driven assets.