According to CoinMeta, data from CryptoQuant shows that the trading volume of altcoins on Binance has risen to over 60%, while on BTC and ETH, it has dropped to 22% and 18% respectively. In May this year, the proportion on BTC was still close to 40%. At the same time, the spot trading volume of Bitcoin on Binance and other major exchanges has fallen to levels near those seen in the later stages of the bear market in 2023. CryptoQuant believes that Bitcoin's long-term sideways movement has weakened market interest, prompting some investors to turn to altcoins with greater volatility, betting that they will outperform Bitcoin after its previous significant corrections.