- Some investors continue to accumulate altcoins even as the cryptocurrency market remains stalled amid falling trading volume and weakening investor sentiment, according to the analysis.
- Trading volume is rising for altcoins excluding the five largest assets by market capitalization: Bitcoin, Ether, Solana, XRP and BNB.
- It added that trading remains concentrated in altcoins despite the market downturn, and that the uptrend in altcoin trading volume is still intact.
Forecast Trend Report by Period
Some investors continue to accumulate altcoins even as the broader cryptocurrency market remains sluggish, according to an analysis.
On May 27, CryptoQuant analyst CW8900 wrote that the crypto market has stalled as trading volume declines and investor sentiment weakens. Even so, some investors are quietly accumulating altcoins.
Data released by CW8900 showed rising trading volume in altcoins excluding the five largest assets by market capitalization: Bitcoin, Ether, Solana, XRP and BNB.
Trading remains concentrated in altcoins despite the market downturn. While some investors are skeptical about the prospects for an altcoin season, steady accumulation is also continuing, CW8900 wrote.
The uptrend in altcoin trading volume is still intact, the analyst added.