Altcoin exchange deposits surged roughly 160% in two weeks, suggesting that holders are beginning to lock in profits after September’s strong performance. The seven-day deposit count reached approximately 78,000 transactions on September 28, compared with 29,800 on September 14, while depositing addresses nearly tripled from 17,600 to approximately 51,600, indicating a broad trend rather than a phenomenon limited to a few large wallets. Near Protocol (NEAR) trades around $5.29 after gaining 21.7% over seven days, Stellar (XLM) remains up 9.9% at $0.2236, and XRP hovers near $1.48, with all three tokens already down over the latest 24-hour period. Bitcoin spot demand contracted by roughly 170,000 BTC over 30 days, and speculative futures demand growth dropped about 90% between September 14 and September 29, creating an unfavorable environment to absorb this growing sell-side pressure.
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