Altcoin exchange deposit count jumps 160% in 2 weeks
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Altcoin exchange deposits surged to their highest transaction count since October 2025, reaching 78,000 transactions in a seven-day total on September 28, according to CryptoQuant. The number of addresses sending altcoins to exchanges also rose to around 51,600, its highest in nearly a year. CryptoQuant suggested that this increase likely indicates holders preparing to sell altcoins.
Why it matters
The report highlights a notable shift in market behavior with more altcoin holders moving coins to exchanges, which is generally interpreted as a signal of potential selling pressure. This development could influence market dynamics between altcoins and Bitcoin, especially as altcoins have recently shown signs of outperformance. The source does not elaborate further on broader market or regulatory implications.
Key context
CryptoQuant's data shows a 160% increase in altcoin deposits between September 14 and 28, coinciding with Bitcoin's recent pullback after briefly topping $87,000. Meanwhile, Bitcoin's dominance in total crypto market capitalization has remained stable between 58% and 60.4% since late May. Smaller altcoins not in the top 10 by market cap reached their highest market share since February, demonstrating a growing altcoin market segment.
Key numbers and entities
CryptoQuant reported a rise to 78,000 altcoin deposit transactions on September 28, up from 29,800 on September 14, and the number of addresses depositing rose from 17,600 to 51,600. Bitcoin's dominance has stayed between 58% and 60.4%. Altcoins outside the top 10 accounted for 9% of total market cap on September 27. The analytics references Glassnode’s Altcoin Cycle Signal and TradingView data.
What remains unclear
The source does not provide specific details on which altcoins are contributing most to the increased deposits or the exact reasons behind the surge beyond the assumption that holders may be preparing to sell. It also lacks insights on how this might impact future price movements or any potential regulatory responses.