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 &#8220;CEX Volume Ratio: Others vs Top 5&#8221; metric, the market analyst 
explained that the altcoin trading volume has been in an uptrend lately. The 
&#8220;CEX Volume Ratio: Others vs Top 5&#8221; 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 CryptoOnchain, the 30-day moving average of altcoin trading 
volume has now climbed past its 365-day moving average. This trend, explained 
the analyst, shows that the volume of this sub-asset class is steadily 
increasing. Higher readings in the CEX Volume Ratio: Others vs. Top 5 are 
telltale signs that traders are leaning towards smaller altcoins rather than 
into major cryptocurrencies (Bitcoin, Ethereum, Solana, XRP, and BNB). This, 
in turn, is interpreted as growing risk appetite, which could positively 
influence an altcoin rally. The market analyst cited historical data, noting 
that instances where the signals flashed mostly reflected short-term volume 
growth relative to the long-term baseline. These cases have also signaled 
“clear rotation of capital from major caps into mid and low-cap altcoins.” For 
example, during the 2021 bull cycle, repeated clusters of these signals 
coincided with explosive rallies across the altcoins&#8217; sector, alongside a 
major price appreciation in Ethereum. Notably, the chart shared by 
CryptoOnchain shows the purple “Volume Ratio” line gradually strengthening 
again after a period of weakness. The analyst noted that a breakout in the 
ratio could precede high-volatility periods, potentially increasing the 
likelihood of an altcoin market rally. Ethereum Stability Could Confirm 
Imminent Altcoin Rally CryptoOnchain further explained that the reinvigoration 
of the altcoin trading volume could be a sign that “retail and institutional 
interest is expanding beyond the top 5 assets.” However, this does not 
necessarily translate to bullish news for the altcoin market. According to the 
crypto pundit, confirmation from Ethereum’s price action might be necessary to 
determine the market&#8217;s inner dynamics. CryptoOnchain explained: If this 
momentum is sustained and accompanied by a stable or rising ETH price, it 
could serve as a strong confirmation that a broader altcoin rally is underway. 
As of press time, the Ethereum price stands at $2,329, up 1% over the past 24 
hours, according to CoinGecko data. Related Reading: Ethereum Sees Sharp 
Decline In High-Leverage Long Positions — See What Happens Next Featured image 
from Shutterstock, chart from TradingView

Altcoin Trading Volume Shoots Up: Is The Altseason Upon Us Again?

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Altcoin Trading Volume Shoots Up: Is The Altseason Upon Us Again?

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