Altcoin Trading Volume Shoots Up: Is The Altseason Upon Us Again?
Following the recent uptick in altcoin prices, conversations about the potential start of an altseason are gaining significant momentum. Interestingly, recent on-chain data about the rising altcoin trading volume has added some weight to the altseason discussions. Altcoin Trading Volume Climbs Above Yearly Average In a recent Quicktake post on the CryptoQuant platform, CryptoOnchain revealed a critical change in the altcoin market. Citing the “CEX Volume Ratio: Others vs Top 5” metric, the market analyst explained that the altcoin trading volume has been in an uptrend lately. The “CEX Volume Ratio: Others vs Top 5” metric tracks how much trading volume is flowing into altcoins outside the top 5, relative to the combined volume of the top 5 assets. As such, it plays a key role in identifying the extent of capital rotation and whether altcoins have started to gain strength. Related Reading: Cardano Holds Critical $0.25 Support: History Points To A Major Rally Setup According to CryptoO