Altseason Nears as 58% of Cryptocurrencies Outpace Bitcoin

More than 50 per cent of major cryptocurrencies have soared in price. Is it alt season already, or not yet?

In the week beginning 21 September, Bitcoin (BTC) surpassed $87,000 and hit a new high for the year. At 17:00 Moscow time on Friday, it was trading at around $84,000, having gained nearly 40% over the past three months. At the same time, dozens of altcoins have shown stronger growth over this period, which could be interpreted as a sign that ‘alt season’ is approaching.

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At the time of publication, CoinMarketCap shows that the top 10 tokens by weekly growth are ENA, QNT, SEI, NEAR, SUI, ZRO, ONDO, BCH, FET and AVAX. All ten have seen gains of 25 per cent or more, reports RBC.

Analytical platforms track the onset of such periods — for example, CoinMarketCap calculates the Altcoin Season Index. The aggregator compares the returns of the 100 largest coins with those of Bitcoin. If 75 per cent of altcoins outperform BTC, this is considered the start of alt season.

As of 25 September, the figure stands at 58. This does not yet constitute alt season, but overall the index has more than doubled since the start of the month — on 1 September, it stood at 23.

Top performers

Bitcoin serves as the benchmark — it has risen in price by 39.3% over the reporting period (90 days). Meanwhile, 16 altcoins have risen in price by more than 100%.

The PONS token, from the eponymous launchpad for meme coins on the Robinhood Chain, remains the absolute leader. The project’s success was already evident in early September, when this fledgling blockchain took first place in terms of transaction fees, partly thanks to the hype surrounding meme coins. Over 90 days, PONS has risen by 6,500 per cent.

The cryptocurrency Zcash (ZEC) has risen in price by 294 per cent. Also among the frontrunners are the tokens of decentralised crypto exchanges (DEXs) Raydium (RAY) and Uniswap (UNI), which have each risen in price by nearly 230 per cent over 90 days. PUMP, from the meme coin platform Pump.fun, has risen by 216 per cent.

The Ethena (ENA) token, from the project of the same name developing the ‘synthetic dollar’ USDe, has risen by 211 per cent over three months. The price of Ethereum (ETH) has increased by 70 per cent. The cryptocurrency Hyperliquid (HYPE) has risen by 46 per cent.

Coins in the red

Stable (STABLE) led the decline. This is a token on the Stablechain Layer 1 blockchain, which is optimised for payments and settlements in stablecoins, for which a commission is charged in USDT by Tether. It fell by 30 per cent. In second place was the Binance Life (币安人生) meme coin from the BNB community, which also fell by 30%.

The meme coin Bonk (BONK) is also down by 12 per cent. The Gram token (GRAM, formerly Toncoin, TON) has fallen by 9 per cent. World Liberty Financial (WLFI), from the Trump family’s eponymous crypto project, has remained virtually unchanged in price over the past three months — falling by just 0.7 per cent.

Among the major cryptocurrencies showing the lowest growth are the PAXG token from Paxos and the XAUT token from Tether. These are stablecoins pegged to the price of gold. They have risen in price by approximately 5% over the past 90 days, reflecting the rise in the price of physical gold.

This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.

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