The share of altcoins in transaction volume broke the 18-month record

As Bitcoin progresses with new increases every day, the share of altcoins in the total transaction volume continues to increase.

According to research firm Kaiko, the share of altcoins in transaction volume increased to 67 percent last week. This level is seen for the first time since March 2022. The emerging picture shows that investors continue to shift to riskier assets amid the ongoing rally.

Binance's share decreased

On the other hand, the daily transaction volume of altcoins exceeded 20 billion dollars for the first time since April. The vast majority of these volumes occurred on offshore exchanges. Binance's influence decreased and the exchange's share in global altcoin volumes decreased from 60 percent to 46 percent. The exchanges that benefited the most from this situation were Upbit, Bybit, OKX and Huobi. The share of the total volumes of the four exchanges increased from 11 percent to 35 percent.