By cryptoadmin CryptoQuant analyst Darkfost said that the recent surge in the altcoin market is showing increasing signs of enthusiasm and that the current momentum may not be sustainable for long.
According to data shared by Darkforth, the Total2 index, which shows the total market capitalization of altcoins including Ethereum, has seen over $371 billion in capital inflows since June 2026. This means the total value of the altcoin market has increased by approximately 45% in just a few months.
The strong capital inflow into the market has been clearly reflected in the technical outlook of altcoins listed on Binance. While approximately 80% of altcoins on Binance were trading below their 200-day moving average in August, this figure has dropped to 13% today. Accordingly, approximately 87% of altcoins traded on the exchange have risen above their 200-day moving average, reversing the previous downward trend.
Darkfost stated that such a widespread surge indicates a significant increase in enthusiasm and speculative appetite in the altcoin market. According to the analyst, in the past, a similar surge in numerous altcoins simultaneously has often not been sustainable, and the market has lost momentum at some point.
Another notable indicator was the increase in the speed at which altcoins were being sent to centralized exchanges. Altcoin listings reached their highest level since the previous market peak seen in October 2025.
According to the data, the average weekly number of altcoin deposits to Binance has risen to approximately 22,700, while on Coinbase it has reached 8,300. Other cryptocurrency exchanges recorded approximately 32,000 deposits per week.
However, Darkfost noted that current exchange inflows remain relatively limited compared to levels seen in the early stages of previous bull markets. The analyst’s assessment suggests that while risk appetite in the altcoin market is rapidly increasing, the current movement has not yet reached the most extreme levels seen in past cycles.
*This is not investment advice.