Indicators of an altcoin season are emerging as assets quickly leave Binance.

Significant outflows of altcoins from Binance may suggest that investors are accumulating assets, hinting at the potential onset of a new altcoin season. On-chain analysts suspect that the phase of capitulation is nearing its conclusion, which could lead to a shift in momentum for altcoins. Anyone who has kept an eye on the cryptocurrency market for some time is likely familiar with the term “altcoin season,” which often incites concern. Interestingly, even though the Altcoin Season Index indicates a low figure, numerous altcoins are seemingly leaving Binance in significant quantities. This large outflow is definitely noteworthy. Joao Wedson, the CEO of Alphractal, states that information gathered from the Binance Netflow Heatmap reveals a significant trend of unobtrusive accumulation. Source: CryptoQuant. This heatmap essentially monitors the flow of altcoins coming in and going out of Binance. The red color signifies that there is a greater outflow of altcoins compared to those that are coming in. Should this occur, investors might begin pulling their assets out of the exchange and into their individual wallets. And guess what? Currently, the altcoins that are experiencing the most withdrawals are ENJ, SLP, FET, AMP, ETH, CRV, MKR, and LINK. It is evident from this point that individuals are no longer engaging in sales but are instead clinging firmly to their possessions.