Bitcoin News Today: Altcoin Futures Hit $223.6B as Bitcoin's Market Share Slides to 17%

Global cryptocurrency trading volumes reached a five-month high in July, with total spot exchange activity hitting $1.823 trillion—marking the second-largest monthly volume of the year. This represents a 55% increase from June’s $1.15 trillion and nearly matches the February record of $1.827 trillion [1]. The surge was driven by strong price movements in Bitcoin and Ethereum. Bitcoin rose by 7.5% for the month, closing at $115,644, while Ethereum soared by nearly 50% [1].

Ethereum and altcoin futures trading also reached a notable $223.6 billion in volume on July 31—a 15% rise from the February 2024 peak [2]. For the first time, altcoin and Ethereum futures accounted for 83% of total futures trading volume, while Bitcoin’s share dropped to 17% [2]. This shift indicates a broader trend of investors moving away from Bitcoin and toward alternative cryptocurrencies.

The renewed speculative momentum was supported by increased leverage and growing institutional interest in Ethereum assets. SharpLink, for example, invested $1.3 billion to increase its ETH holdings to over 438,000 ETH [3]. Retail trading activity also showed signs of a rebound, with transactions under $10,000 rising by 9.7% in the past month [2]. Historically, such patterns have preceded major rallies in both Bitcoin and altcoins.

Major centralized exchanges contributed significantly to the volume surge. Binance led the market with $759 billion in volume, the highest since January’s record $801.1 billion [1]. Bitget, Bybit, and Upbit followed with $126.05 billion, $122.3 billion, and $110.21 billion, respectively. Decentralized exchanges also saw an uptick, with total DEX volume reaching $435.3 billion—the highest since January. PancakeSwap maintained its leading position with $188.6 billion in volume [1].

Not all platforms, however, experienced gains. Coinbase saw its shares fall 11.5% before the market opened on July 15, following a report of declining second-quarter trading volumes [6]. This highlights a disparity between overall market optimism and the performance of individual exchanges.

Altcoin volumes have been particularly strong, with BNB, Solana, and XRP posting double-digit gains in the past 30 days. Meme coins have also seen robust performance [7]. Only 23 out of 424 Binance futures pairs have posted negative returns since Bitcoin’s recent all-time high, signaling broad-based strength across the market [2].

The trend reflects a shift in investor sentiment. Bitcoin’s dominance has declined over the past 19 days, while altcoin optimism grows. Institutional accumulation of Ethereum, combined with renewed retail interest, could drive further upside if current patterns continue [2]. Richard Bernstein Advisors has reaffirmed a bullish outlook, stating the current bull cycle is still in its early stages with no near-term peak expected [5].

This period of renewed activity suggests that the crypto market is entering a phase of broader diversification and increasing participation.

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Source:

[1] title: Altcoin Trading Hits $223.6B as Bitcoin Dominance Slides

(url: https://cryptodnes.bg/en/altcoin-trading-hits-223-6b-as-bitcoin-dominance-slides/)

[2] title: Altcoin Trading Hits $223.6B as Bitcoin Dominance Slides

[3] title: Altseason 2025: Top Altcoins Surge as Bitcoin Hits $120K

(url: https://www.tradingview.com/news/cryptonews:10e2b9c8a094b:0-altseason-2025-top-altcoins-surge-as-bitcoin-hits-120k-6-must-see-charts/)

[6] title: Coinbase shares sink after trading weakness hits quarterly ...

(url: https://www.reuters.com/business/coinbase-shares-sink-after-trading-weakness-hits-quarterly-profit-2025-08-01/)

[5] title: Ethereum News Today: Bernstein Says Crypto Bull Market ...

(url: https://www.ainvest.com/news/ethereum-news-today-bernstein-crypto-bull-market-early-stages-2508/)

[7] title: Altseason 2025: Top Altcoins Surge as Bitcoin Hits $120K