Crypto analyst Darkfost said altcoin inflow transactions on Binance have risen sharply as the U.S. Senate approaches a procedural vote on the CLARITY Act and the Federal Reserve’s rate decision nears. Data cited by the analyst shows Binance averaged 31,800 altcoin inflow transactions over the past seven days, up from 8,300 in July, or nearly four times higher. Over the same period, Coinbase’s altcoin inflow transactions increased from 2,200 to 4,700, while Bybit reached 2,700.
Darkfost said heavy altcoin transfers into exchanges may point to growing potential sell pressure, though the current level has not yet reached an abnormal threshold. The analyst also noted that Total 3, a measure of the total altcoin market capitalization, increased by more than $136 billion over the same period. With market uncertainty still in place, some investors may be choosing to lock in gains after the recent rise.
Altcoin inflow transactions on Binance have climbed sharply in recent days, according to crypto analyst Darkfost, who linked the move to the approaching procedural vote in the U.S. Senate on the CLARITY Act and the upcoming Federal Reserve rate decision.
Binance saw a sharp rise in recent inflow transactions
Data cited by Darkfost shows Binance recorded an average of 31,800 altcoin inflow transactions over the past seven days, compared with 8,300 in July, a nearly fourfold increase. During the same period, Coinbase’s altcoin inflow transactions rose from 2,200 to 4,700, while Bybit climbed to 2,700.
Darkfost says possible sell pressure is worth watching
According to the analyst, a large volume of altcoin transfers into exchanges could signal that potential sell pressure is building. He added that the figures have not yet reached abnormal levels, but they are now worth watching.
Darkfost also said Total 3, which represents total altcoin market capitalization, increased by more than $136 billion over the same period. With uncertainty still hanging over the market, some investors may be opting to take profit after the recent rally.
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