On-chain analytics platform CryptoQuant reported a significant rise in altcoin deposits on exchanges. The number of deposit transactions reached 78,000 on September 28, marking a 160% increase from the 29,800 transactions recorded on September 14.
The volume of unique addresses depositing altcoins to exchanges also saw a sharp rise during the same period. The count grew from approximately 17,600 to 51,600, reaching levels not seen since October 2025. Analysts suggest this activity often indicates that holders are preparing to sell their assets.
The surge in exchange inflows follows a period where altcoins showed signs of outperforming Bitcoin. Glassnode’s Altcoin Cycle Signal metric recently favored altcoins over Bitcoin, analyzing price data for the 250 largest altcoins by market capitalization, excluding stablecoins.
Bitcoin dominance in the total cryptocurrency market has remained between 58% and 60.4% since May 27. Meanwhile, crypto assets outside the top 10 by market capitalization accounted for 9% of the total market on September 27, which is the highest share recorded since February.
