"Exchange Altcoin Inflows and Outflows Fall Below Annual Average…Potential Signal of Market Turnaround"
Summary
- It was announced that the recent altcoin inflows and outflows at major exchanges are around $1.6 billion, significantly lower than the annual average of $2.5 billion.
- Adler analyzed that this decline in inflows and outflows is interpreted as a signal of asset consolidation and accumulation ahead of a bullish altcoin market.
- He explained that in similar cases in the past, when inflows and outflows were low, altcoin prices actually showed strength afterward.
Axel Adler Jr, a CryptoQuant analyst, stated on the 27th (local time) via his X (formerly Twitter), "The recent monthly inflow and outflow volume of altcoins at major cryptocurrency exchanges is about $1.6 billion, which is significantly below the annual average of $2.5 billion."
He analyzed, "This decrease in exchange inflows and outflows suggests that asset consolidation and accumulation activities are intensifying ahead of a bullish altcoin season (altseason)."
He added, "Since 2022, there have been only five instances where the altcoin inflows and outflows at major exchanges fell below $1.6 billion. Notably, during early and late 2023, and August to September 2024, altcoin prices showed bullish movements."
Adler further stated, "If past cases repeat, the current low inflow and outflow volume could spur a rise in altcoin prices going forward."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
