Altcoin season back on track? Binance inflows hit 18-month high as traders rotate
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The long-hyped altcoin season had recently gone quiet. With several major assets pulling back and sentiment fading, the crypto market’s focus drifted back to Bitcoin. But this may be shifting again, as fresh signs of activity suggest that altcoins are back in play. Summary Binance just saw its highest altcoin inflows in 18 months, with more than 45,000 transactions recorded over the past week. The total altcoin market cap has jumped 23% in the last month, pointing to renewed momentum across the sector. Despite the bullish signals, social sentiment and the altcoin season index are telling a different story. Major altcoins like ETH, SOL, XRP, and SUI have posted modest gains over the past 24 hours. In an August 6 analysis, CryptoQuant contributor Maartum highlighted a resurgence of altcoin traffic on crypto exchanges. Deposits to Binance have climbed sharply over the past week, with the 7-day transaction count topping 45,000. This marks the highest level since late 2024, pointing to renewed trader interest in the asset class. Binance altcoin inflow transaction count reaches 18-month high | Source: CryptoQuant The analyst noted that when investors move assets onto exchanges like this, it signals they’re gearing up to trade. For months, these inflows stayed flat, particularly as Bitcoin (BTC) held strong dominance in its parabolic rally above $123,000. Historically, the shift to altcoins has often followed a strong Bitcoin run. Once the market giant cools, profits rotate into smaller caps. If that pattern is playing out again, this spike in exchange deposits could be the first real sign of the altseason. While the trend isn’t as visible across other exchanges yet, Binance activity is worth watching. As the largest crypto exchange by volume and a central hub for trading, past spikes in Binance altcoin inflows have often been used to gauge market…
