Analysts Flag Altcoin Momentum as Total2 Absorbs $371B Since June

• Total2 gained 45% since June, with 87% of Binance-listed altcoins now trading above their 200-day moving averages.
• Altcoin leverage dominance reached a 2.5-year high, while exchange deposits climbed to their highest level since October 2025.
• Total crypto market cap reached $2.88T, with $2.90T and $2.94T as resistance and $2.85T as nearby support.

Altcoins are showing stronger market participation as capital inflows, leverage and exchange deposits rise. Analyst Darkfost said Total2 absorbed over $371 billion since June 2026, while analyst Julio Moreno noted altcoin deposits reached their highest level since October 2025.

Altcoin Momentum Expands Across Binance

Darkfost said Total2, which includes Ethereum and other altcoins, gained 45% over several months. The shift also appears among Binance-listed altcoins based on their 200-day moving averages.

Source: Darkfost

In August, 80% of those altcoins traded below their 200-day moving averages. Today, only 13% remain below that level, leaving 87% above it. According to Darkfost, the change shows that many altcoins have moved away from their earlier trend. 

He described the setup as euphoria and noted its historical tendency to lose momentum. That activity also extends to leverage. Altcoins' leverage dominance has reached its highest level in 2.5 years.

Exchange Deposits Reach October 2025 High

Julio Moreno highlighted another change in recent altcoin activity. The number of altcoin deposits to exchanges climbed yesterday to its highest level since October 2025. Meanwhile, total cryptocurrency market capitalization is at $2.88 trillion on the four-hour chart. 

https://twitter.com/jjcmoreno/status/2103905514325192948?s=20

The figure rose $12.94 billion, or 0.45%, during the latest candle. The candle opened at $2.87 trillion, reached $2.88 trillion and touched $2.86 trillion. Trading volume stood at $91.61 billion.

Market Cap Tests $2.90 Trillion

The market cap recovered from a mid-September low near $2.55 trillion and moved above $2.70 trillion and $2.80 trillion. It later approached $2.90 trillion before pulling back from $2.94 trillion. The market then consolidated between $2.83 trillion and $2.88 trillion. Resistance is around $2.90 trillion, followed by $2.94 trillion.

Source: TradingView

Support is near $2.85 trillion, followed by $2.80 trillion and $2.75 trillion. The RSI is 58.75, above its 54.36 moving average and the neutral 50 level. However, the MACD line is at $9.77 billion below its 10.48 billion signal line. The histogram is negative at -700.57 million.