Altcoin trading volume on major exchanges plummets, analyst says

Altcoin trading volume on major exchanges, including Binance, has plummeted, crypto analyst Darkfost said on X. He noted that altcoins continue to underperform against Bitcoin. Current altcoin spot trading volume on Binance is around $7.7 billion, with the total across major exchanges at $18.8 billion. This is a significant drop from last October, when the altcoin market was more active, seeing volumes of $40 billion on Binance and $63 billion across major exchanges. Darkfost explained that periods of rising altcoin volume typically coincided with FOMO (fear of missing out). While the current situation is not favorable, he suggested that the best buying opportunities tend to emerge when market interest is low and the majority of traders remain on the sidelines.