CryptoQuant: Altcoin Exchange Flows Fall, Indicating Market Consolidation And Potential Pre-Rally Phase
In Brief
Axel Adler Junior highlights declining altcoin exchange flows signaling market consolidation and a potential buildup before a selective altcoin rally.
Cryptocurrency market analyst Axel Adler Junior from research firm CryptoQuant released an update on June 27th indicating that the average monthly exchange flow for altcoins has reached approximately $1.6 billion, which is notably below the 2024 annual average of $2.5 billion.
This reduced activity is interpreted as a signal of market consolidation and a possible buildup phase ahead of a broader altcoin market movement. Historical data marked by green indicators on the chart shows that similar flow levels in early and late 2023, as well as in August and September 2024, preceded notable increases in altcoin prices.
In line with this analysis, Michaël van de Poppe, founder of MN Trading Capital, suggested that ETH may experience further price appreciation if it maintains a position above the $2,400 threshold.
Supporting this perspective, market commentator Crypto Fella noted that the ETH/BTC ratio has been declining, potentially signaling strength for ETH in the near term. However, Crypto Fella also cautioned that the anticipated altcoin season could be more selective compared to previous cycles, emphasizing the importance of choosing specific altcoins strategically, as broad-based rallies may not materialize across the entire market.
Major Altcoins See Modest Losses
At the time of writing, ETH is priced at $2,445, reflecting a 0.22% decline over the previous 24 hours, with intraday trading ranging between $2,392 and $2,461.
ETH’s market capitalization stands at around $295.51 billion, showing a marginal daily increase of 0.07%. Furthermore, XRP is valued at $2.09, marking a 3.73% decline, while Solana (SOL) is trading at $142.19, down by 1.04%.
The overall cryptocurrency market capitalization has decreased by 0.43% in the last 24 hours to approximately $3.27 trillion. Total trading volume across all digital assets over the same period has fallen by 10.02%, currently sitting at $99.41 billion. Bitcoin’s share of the market has risen slightly to 65.01%, reflecting a 0.11% increase, according to data provided by CoinMarketCap.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
