CryptoQuant reported that in the seven days leading up to September 28, the number of altcoin deposit transactions to exchanges reached 78,000—a high not seen since October 2025 and an increase of about 160% from around 29,800 on September 14. The number of addresses sending altcoins to exchanges rose to approximately 51,600, also the highest level in nearly a year.

Analysts Warn of Potential Selling Pressure

The platform noted that the increase in inflows is broad-based. According to its observations, when holders transfer coins to exchanges, they typically intend to sell, which could increase short-term price pressure.

Number of Addresses Nearly Tripled in Two Weeks

Between September 14 and 28, the number of addresses depositing altcoins to exchanges nearly tripled—from about 17,600 to 51,600, matching highs last seen in October 2025.

Glassnode Indicator Shifts in Favor of Altcoins

Last week, Glassnode's Altcoin Cycle Signal metric indicated an advantage for altcoins over Bitcoin; it uses price data from the 250 largest altcoins by market capitalization, excluding stablecoins.

Bitcoin Share Stable; Smaller Altcoins Gain Ground

Since May 27, Bitcoin's share of total market capitalization has remained in the 58–60.4% range and stayed below 60%. As of September 27, assets outside the top 10 by capitalization accounted for 9% of the market—their highest share since February.