Altcoins gain $371B since June – Can the rally survive rising exchange deposits?

Altcoin momentum is broadening as capital moves beyond Bitcoin [BTC] into a wider range of tokens. Since June, Total2 has absorbed over $371 billion, increasing its market capitalization by 45%.

This rotation is now spreading across Binance-listed assets, where only 13.6% are currently trading below their 200-day Moving Averages (MA), while 87% are trading above them.

Notably, the percentage of Binance-listed assets trading above their 200-day MA is significantly higher than it was a year ago

The improved participation across the markets indicates a better distribution of price increases throughout the markets instead of being concentrated among just a few larger-capitalized tokens.

If broader participation does continue, then the price action of the current rally will likely become more volatile should capital begin to flow away from those smaller-capitalized tokens.

Are altcoins facing selling pressure?

The spike in altcoin breadth is now colliding with an explosion in trade volume on exchanges. This is potentially a tipping point that could put downward pressure on the rally.

The 25th of September saw approximately 70,000 altcoin deposits, the largest number of altcoin deposits seen since the 17th of October, 2025.