Altcoins now account for 60% of total trading volume on Binance, while Bitcoin’s (BTC) share has fallen to 22%.

Currently, spot Bitcoin trading volumes on Binance and other major crypto exchanges have dropped to a low level, approaching the levels seen at the end of the 2023 bear market, indicating a decline in market attention to BTC. Data shows that in May, Bitcoin dominated Binance’s trading volume, accounting for nearly 40%, while trading volumes for Ethereum and altcoins were relatively low. Now, the market’s trading structure has shifted: altcoins make up over 60% of trading volume, while Bitcoin’s share has fallen to 22% and Ethereum’s to around 18%. Darkfost noted that Bitcoin prices have seen limited volatility for weeks, with the market entering a “boring phase” as some investors turn to altcoins to seize trading opportunities in the current low-volatility environment. Analysts say that since most altcoins have experienced larger pullbacks than Bitcoin recently, some investors are betting altcoins may outperform BTC going forward. However, such strategies carry high risks and require investors to exercise careful position management.