Altcoins See $266B Net Selling Volumes: Where Is The Capital Going?

Altcoin markets excluding Ether recorded $266 billion in net selling on centralized exchanges, the weakest cumulative spot-demand reading since tracking began in 2020. Crypto analyst IT Tech observed the one-year cumulative buy-sell difference for altcoins fell to -$266 billion on June 16.

Despite heavy spot outflows, altcoins made up 51% of daily futures trading volume on June 16, versus 28.85% for Bitcoin and 20.20% for Ether. Altcoins led exchange trading volumes for most of 2025 apart from a brief February surge by Bitcoin. The gap between record selling and dominant derivatives activity suggests capital is being recycled within the altcoin market rather than arriving as fresh spot inflows.

Exchange stablecoin balances have changed little since December 2024, with the ERC-20 exchange supply ratio fluctuating between 0.40 and 0.46—meaning roughly 40% to 46% of circulating stablecoins have remained on exchanges for more than a year, MorenoDV noted.

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