Binance altcoin inflow transactions nearly quadrupled compared to July, market wary of potential selling pressure

BlockBeats news, September 15 - Crypto analyst Darkfost posted that as the U.S. Senate is about to hold a procedural vote on the CLARITY Act and the Federal Reserve's interest rate decision approaches, the number of altcoin inflow transactions on Binance has increased significantly recently. Data shows that Binance's average number of altcoin inflow transactions over the past 7 days reached 31,800, nearly 4 times the 8,300 in July.

During the same period, Coinbase's altcoin inflow transactions increased from 2,200 to 4,700, while Bybit rose to 2,700. Darkfost believes that a large influx of altcoins into exchanges may mean potential selling pressure is increasing. Although it has not yet reached abnormal levels, it is worth market attention.

In addition, the total market capitalization of altcoins represented by Total 3 grew by more than $136 billion during the same period. Amid ongoing market uncertainty, some investors may choose to take profits from the recent rally.