Altcoin Market Cap Falls About $200 Billion as Binance Breadth Weakens

Altcoin market capitalization has fallen about $200 billion as market breadth weakened, with 70% of Binance-listed altcoins below their 200-day averages. Altcoin market capitalization excluding Bitcoin (BTC) and stablecoins increased $320 billion from mid-August through the end of September. The subsequent decline reversed nearly two-thirds of that gain. The share of Binance-listed altcoins below the 200-day benchmark stood at 82% in mid-August, then reached 10% around early October, when nearly 90% were above it. That share has since climbed to about 70% and is approaching 80%, showing weakness across a broad portion of the tracked market.

Source: TokenPost