Altcoin investors are dumping centralized exchanges (CEXs) at a pace not seen in over five years.
As of June 17, the cumulative spread in the volume of buy/sell prices for altcoins, excluding Bitcoin (Bitcoin) and Ethereum (Ethereumfell to more than $250 billion in net sales, according to Data from Cryptoquant. As such, altcoin sellers have outnumbered buyers for approximately 17 consecutive months.
The measure rose steadily through 2024, approaching neutral by mid-January 2025, indicating renewed investor demand after several years of net selling. From that peak, it reversed sharply, as sellers outweighed buyers in the months that followed, leading to the largest altcoin capitulation ever.
The intense altcoin selling pressure over the past year and a half has been due to the turnover of capital into artificial intelligence Market (artificial intelligence). Moreover, the industry witnessed a decline in demand following the delay in approval of the bill The law of claritya proposed US federal law aimed at regulating crypto assets, which was recently allowed to be debated by the Senate Banking Committee.
What’s next for the altcoin market amid the intense sell-off?
A notable sell-off of altcoins since early 2025 has fueled a further sell-off of cryptocurrencies. Moreover, Total 3, a measure of the market capitalization of cryptocurrencies excluding Bitcoin and Ethereum, has fallen from a peak of about $1.15 trillion to approximately $696.93 billion at press time, according to metrics from TradingView.
Notably, the accelerated sell-off of TOTAL3 in late 2025 coincided with severe dumping on central exchanges. However, TOTAL3 retested a strong buy wall at around $696 billion, which could lead to a new wave of altcoin accumulation over the coming months. On the other hand, if altcoin flooding continues, TOTAL3 may capitulate further over the near future, exacerbating the overall bear market.
