Altcoin Market Breadth

What is measured

Per day, the share of members whose daily close sits above their own simple 200-day average (including that day). Equal-weighted: a small coin counts like a large one — breadth is a count. Alongside, the median distance to the line; it shows how far coins sit above or below, not only whether.

Who counts

Binance spot pairs quoted in USDT, USDC or FDUSD, one coin counted once (USDT preferred) — otherwise a change of quote currency would look like a delisting plus a new listing. Excluded are Bitcoin itself, stablecoins, leveraged tokens (UP/DOWN/BULL/BEAR) and tokenized stocks and commodities. "All altcoins" is every member, "Top 100" the 100 members with the highest quote volume of that day — in the past, too, by the volume of the day, not by today's ranking. Only coins with at least 200 daily closes enter the denominator; younger coins drop out instead of counting as "below", otherwise every listing wave would make the number artificially weak.

Dead coins and the upper bound

From April 24, 2026 the universe is recorded point-in-time: whoever was tradable on a day is in that day's row. Before that, the series is rebuilt from the Binance public archive, delisted pairs included up to their last trading day — the slide before a delisting is part of market breadth and is not smoothed away. Where the reconstruction has gaps, weak coins are likelier to be missing than strong ones, so those rows are labelled "upper bound". The dashed marker in the chart separates the two parts. How far a calculation with only today's survivors would shift earlier years is not measured here — what is certain is that pairs dead today made up a large part of the denominator back then.

The denominator

The strip below the chart shows, per day, which share of members already had 200 daily closes. In the early years that was low: many coins were young, so the share refers to a smaller, older group. Where coverage falls below 70 %, the period is shaded grey — the number there rests on a different denominator than today and compares to today only with caution.

Not the same as altcoin season

The altcoin season measures rotation: do altcoins beat Bitcoin over 90 days? Market breadth measures trend participation: does an altcoin sit above its own line, whatever Bitcoin does. Both can point in opposite directions at the same time — broad upward participation alongside a stronger Bitcoin is no contradiction.

Why this is not a signal

The page describes how broadly the market is participating. There is no threshold above which breadth would be "bullish", and no statement about what followed — that would be a separate, measured question. Not investment advice.

Data & access

Source: Binance (spot daily candles; delisted pairs from the public archive). Refreshed daily after the daily close. The same series is served by the REST-API and the MCP tool arena_get_market_breadth.