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Altcoin trading volume cools to normal levels after September surge, Glassnode data shows

Altcoin trading volume has settled back to baseline levels after surging to four times Bitcoin's volume in September, a speculative peak that coincided with Bitcoin reaching a local high near $87,000.

Glassnode chart showing Bitcoin price alongside the 7-day ratio of total crypto to Bitcoin spot volume cooling down toward the 3x median level.
Image: @Cointelegraph

Altcoin trading volume has retreated to normal historical levels following a speculative spike in September, according to on-chain analytics firm Glassnode. During that run, altcoin activity reached four times Bitcoin's volume before momentum dissipated.[1][2][3]

The surge in altcoin trading coincided with Bitcoin topping out locally near $87,000. Glassnode's tracking of the seven-day ratio of total crypto spot volume to Bitcoin spot volume shows the metric retreating from elevated levels into its historical median around 3x, signaling a cooldown from previous altcoin market froth.[1][2][3]

Key facts

  • Altcoin trading volume has cooled back to normal levels after a major spike in September, according to Glassnode data.
  • Altcoin volume surged to four times Bitcoin's volume during the September run.
  • The speculative altcoin volume spike aligned with Bitcoin's local price peak near $87,000.
  • Glassnode's seven-day ratio of total spot volume to Bitcoin spot volume has returned near its historical median of approximately 3x.

Sources · 3 sources

  1. C®

    CryptoSavingExpert ®@CryptoSavingExpPost on X ·

    Altcoin trading volume has returned to normal levels after surging to 4x Bitcoin’s volume in September, according to Glassnode. That speculative spike coincided with Bitcoin topping out locally near $87K. The altcoin frenzy has cooled considerably. https://t.co/kptsSRvc7d

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X ·

    🔥 UPDATE: Altcoin volume has cooled back to normal levels after it surged to 4x Bitcoin’s in September, a speculative spike that lined up with BTC’s local top near $87K, per @glassnode. https://t.co/X6a3J28UgF

    Open source
  3. TM

    That Martini Guy ₿@MartiniGuyYTPost on X ·

    Altcoin trading volume has cooled back to normal after hitting 4x Bitcoin’s volume in September, according to Glassnode. That speculative surge coincided with Bitcoin’s local top near $87K. The altcoin hype has faded for now. The question is when momentum returns. https://t.co/3i4qJ0AmOV

    Open source