Altcoins Return to Exchanges as BTC Surges

On-chain analytics firm CryptoQuant reported a sharp increase in trading activity on centralized exchanges as Bitcoin climbed toward $80,000. Daily spot trading volume rose from $15–25B in early August to more than $75B at its peak. Binance accounted for the largest share of the increase: its daily trading volume climbed from around $5B to $20B, accounting for 26% of total spot trading.

Large holders repeatedly sent more than 2,000 BTC to exchanges within an hour. The average Bitcoin deposit size on Binance rose from 20–30 BTC to more than 50 BTC, with the figure approaching 75 BTC at certain points. These inflows were recorded across several platforms, including Binance, Coinbase, OKX, Bybit, Gate, and Kraken.

The seven-day total number of altcoin deposit transactions increased from 15,000–20,000 to around 45,000. The increase was spread across Binance and other exchanges and coincided with Bitcoin returning to the $80,000 range.

Open interest increased by around $1B for Bitcoin and $1–1.2B for Ether in one day. CryptoQuant described the increase in spot trading activity, whale inflows, and altcoin deposits as a sign of the early stage of a bull market.

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