CryptoQuant’s heatmap shows strong altcoin outflows from Binance, signaling possible accumulation

A growing number of altcoins are flashing bullish signals as traders begin pulling tokens from the world’s largest crypto exchange, Binance, in what analysts describe as a “massive accumulation phase.”

According to blockchain analytics platform CryptoQuant, a new heatmap of Binance netflows shows strong outflows across a wide list of altcoins, including Ethereum (ETH), Chainlink (LINK), Shiba Inu (SHIB), Dogecoin (DOGE), Aave (AAVE), and others.

In total, over a dozen tokens have entered deep-red territory on the heatmap, an indicator that more tokens are being withdrawn from Binance than deposited.

The movement of assets off exchanges is typically interpreted as a signal of long-term investor confidence, as it suggests holders are securing their assets in private wallets rather than preparing to sell.

“The Binance netflow heatmap is revealing an extremely bullish pattern,” the CryptoQuant report stated. “Multiple altcoins are glowing red, signaling more outflows than inflows — a classic sign of accumulation by experienced investors.”

More altcoins are flowing out of hot wallets

The netflow data measures the difference between coins entering and leaving an exchange. When outflows exceed inflows, it typically suggests investors are buying and then moving tokens off-exchange to hold. On the other hand, inflows exceeding outflows often hint at looming sell pressure.

The heatmap offers a quick glance at where accumulation might be happening. The most recent snapshot shows red bars across tokens such as Enjin (ENJ), Fetch.ai (FET), Aavegotchi (GHST), Smooth Love Potion (SLP), Gitcoin (GTC), Illuvium (ILV), Curve (CRV), 1inch (1INCH), and more.

Ethereum and popular memecoins like DOGE and SHIB are also featured, highlighting the breadth of the trend.

Tokens that are deep red in the Binance heatmap signify that they are being withdrawn rather than deposited. Tokens in the green zone indicate inflows.

Binance outflows matter

The importance of this signal is magnified by its origin: Binance. As the largest cryptocurrency exchange by volume and user base, Binance’s activity often reflects macro investor sentiment, especially among institutional and whale participants.

CryptoQuant stated that Binance isn’t just an exchange, but the heartbeat of the global crypto market. When accumulation patterns show up here, it often reflects the actions of the most experienced and well-informed investors.

They point to Binance’s liquidity, global accessibility, strong reputation, and growing appeal among institutional capital as key reasons its netflow data serves as a trusted market thermometer.

When tokens are withdrawn from exchanges like Binance, analysts interpret the trend as accumulation, often ahead of expected price increases. According to CryptoQuant, such patterns signal lower selling pressure, an upcoming supply shock, and institutional confidence.

This isn’t the first time CryptoQuant’s heatmap has spotlighted early accumulation. Similar patterns appeared ahead of the 2023 and early 2024 altcoin rallies.

While the heatmap paints a bullish picture, some caution is warranted. Netflows offer a directional hint but not precise timing. Also, a few large withdrawals can skew data, especially in lower-liquidity tokens.

Market forces, such as macroeconomic news, Bitcoin’s price action, and regulatory events, still play a significant role in whether an altcoin rally materializes. For now, the signs are promising.

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