Altcoins see highest 7-day inflow transactions in months as Binance leads the charge

Altcoin deposits are flooding into centralized exchanges at a pace not seen in months. Binance recorded roughly 34,000 altcoin inflow transactions on April 2, a figure that marks the platform’s highest single-day count since early in the year. The surge stands out partly because it was so concentrated. Other major exchanges like Bybit and Coinbase didn’t see comparable spikes, suggesting this wasn’t a broad market-wide rush to sell or rebalance. Something more specific was happening on Binance, likely tied to the platform’s recent launch of new commodity futures products that drew fresh trading activity. What the numbers actually show To appreciate the scale, some context helps. During the significant market rally from November to December 2024, Binance logged around 59,000 altcoin inflow transactions. The current 34,000-transaction spike is roughly 58% of that rally-era peak. What makes the data interesting is the backdrop against which it appeared. Altcoin market capitalization has climbed about 21% over the prior month, a solid gain by any measure. But according to Glassnode, that growth hasn’t been accompanied by significant capital rotation out of Bitcoin and into altcoins. Th...