The withdrawal of some exchange altcoins with more volume in the world was shot.
Despite the lazy performance of Ether (ETH), people continue to accumulate it.
The Altseason or Altcoins season, according to a recent Cryptoquant report, prepared by the analyst Joao Wedson, could be taking shape, driven by the behavior of Altcoins flows in Binance, the exchange with the highest volume in the world.
The Binance’s net flow heat map, which is observed below, is an indicator that measures the inputs and outputs of Altcoins on the platform, It reveals an increase in retreats from several cryptocurrencies, Point out in your report Wedson.
A negative net (in red) flow indicates that users are retiring altcoins to personal walletswhich suggests a possible accumulation and confidence in these assets.
Altcoins with higher exits include Enjin Coin (ENJ), Smooth Love Potion (SLP), Fetch.AI (FET), AMP (AMP), Ethher (Eth), Curve Dao Token (CRV), Bancor (Bnt), 1inch Network (1inch), Aavegotchi (GHST), Gitcoin (GTC) Guild Games (YGG), Chainlink (Link), Ankr (ANKR), MyneightBoralice (Alice), Maker (MKR), Synthetix (SNX), 0x (ZRX), dodo (dodo) and origin protocol (Ogn).
“This shows a strong public interest in withdrawing these Altcoins from Exchange, a clear sign of accumulation and confidence in assets,” says Wedson. The Altseason are known for their potential to generate significant profits and capture the attention of investors in the cryptocurrency market.
This movement It could be interpreted as a long -term commitment to investorswho prefer to protect their assets outside the exchanges.
Ethereum’s particular case
For its part, Ether (ETH), native active of Ethereum, the second cryptocurrency for market capitalization, stands out as a special case.
Despite their irregular performance in recent months, the data shows a sustained interest in their accumulation. Binance ETH retreats Exchange reserves have reducedwhich reinforces the expectations of a possible future appreciation of its price, says the analyst.
So far from May, ETH reached $ 2,700, a level not seen since February of this year. However, follow 46% below its historical maximum of $ 4,800, registered four years ago.
Despite this gap, the interest in accumulating ETH does not decline. Wedson describes this behavior as “interesting”, since investors seem to prioritize their long -term potentialeven in a context of volatility.
Are we really facing an Altseason?
The concept of Altseason, although it lacks a unique definition, It is usually identified when at least 75% of the 50 main Altcoins exceed Bitcoin’s performance (BTC) in a 90 -day period.
However, Blockchaincenter explorer data They indicate that only 18% of these Altcoins have surpassed BTC in that period. This percentage suggests that the market is far from complying with the criteria of an Altseason.
In addition, for an Altseason to consolidate, the price of Bitcoin should stabilize in a new historical maximum for a prolonged period. For now, this scenario has not materializedwhich maintains uncertainty about the arrival of an Altcoins season.
Bitcoin: A rising giant
While the Altcoins are looking for their moment, Bitcoin continues their ascending career. As Cryptonotics reported, on the current day, BTC broke its own record to exceed 109,500 dollars, consolidating as the fifth most valuable financial asset in the worldby Above Amazon. His next competitors in market capitalization are giants such as Apple, Nvidia, Microsoft and Gold.
Bitcoin’s impulse is backed by solid foundations: a limited scheduled emission, independence of central governments and banks, and a safe network.
With a growing adoption between retailers, companies and governments, Bitcoin’s upward trend seems solid, although its volatility, although it has decreased, remains a factor to consider.
A market in observation
Despite the optimistic signals in Altcoins flows in Binance, The market still does not show the necessary elements to declare the start of an Altseason.
The accumulation of Altcoins such as ETH and others reflects a sustained interest, but Bitcoin’s supremacy and The lack of generalized performance of the Altcoins against BTC They suggest that investors must keep caution.
While Bitcoin continues to break records, the focus remains in case the Altcoins will consolidate their own rally in the coming months. For now, the market remains a space of opportunities and expectations, where each movement counts.
