On September 25, the altcoin market showed significant growth, during which Quant jumped approximately 39% in 24 hours. Meanwhile, the price of Bitcoin remained around $84,000, indicating that investor interest had shifted more towards altcoins rather than further breakthroughs for BTC near $87,000. The rise of Quant stood out against the overall backdrop: at one point, the token surged by 75% to above $190, before being halted and retreating to $160. The most likely reason for this spike was the recent announcement that The Clearing House had selected Quant to support its On-Chain Money Initiative.
At the time of the rise, 93 out of 100 assets in the CoinDesk 100 index were trading in the green, indicating broad market activity. This suggests that money is being distributed much more evenly across the market, rather than concentrated in a few large tokens. This rally also indicated that the level of altcoins had reached a three-month high. Major assets like Solana and XRP had already shown high returns compared to Bitcoin over the previous week. Meanwhile, the price of Bitcoin fluctuated around $84,000, which is important for market stabilization. Such a consolidation period often creates opportunities for altcoin growth, as after sharp movements in BTC, some investors begin to reallocate capital into smaller assets.
However, this does not guarantee the start of a sustained altcoin rally, as such changes can quickly reverse if Bitcoin sharply declines or continues to rise and attracts liquidity back to itself. The rise of Quant should also not be seen as evidence that every altcoin is overvalued based on fundamental indicators. Nevertheless, this breadth of the market is noteworthy, as 93 out of 100 major crypto assets are showing growth, indicating an expansion of risk appetite outside the institutional base that has dominated for a long time.
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