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CoinMarketCap’s Altcoin Season Index rises to 64, with funds increasingly concentrating on revenue-generating projects.

2026.09.28 22:11:28

The altcoin market has recently shown clear signs of rotation, with capital shifting away from pure speculative trading toward projects with tangible revenue and real use cases. Over the past 30 days, PONS has surged over 350%, UNI is up more than 110%, ARB has risen over 150%, NEAR is around 180% higher, and ZEC briefly crossed $1,600 last week. Data from CoinMarketCap shows the Altcoin Season Index is currently at 64, a notable increase from last week’s 48, but still below the 75 threshold that confirms an "altcoin season". Talos data indicates that the top 10 altcoins by market cap now account for roughly 80% of the total altcoin market value, up from around 70% at the end of 2024, marking further concentration. Bankless host David Hoffman noted that recent high-performing tokens like ARB, UNI, JUP, and ONDO share a common trait: they generate revenue. Samar Sen, head of international markets at Talos, added that current capital is mainly concentrated in yield-generating protocols, on-chain perpetual contracts, and DeFi projects, while sectors including privacy, AI, tokenized assets, and meme coins are also drawing attention. Sen said the current market features "more selective" participation, with investors allocating funds around specific narratives and ecosystems rather than trading altcoins as a single unified asset class.

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HyperLabs has transferred 1.875 million HYPE tokens to the wallets of five OTC buyers.

Per monitoring by Onchain Lens, HyperLabs—the development team behind Hyperliquid—has completed the 7-day unbonding process for 3.75 million HYPE tokens. The tokens are now reflected in its spot balance, valued at approximately $330 million. Notably, these tokens will not be sold on the public market; instead, they are earmarked for an over-the-counter (OTC) transaction the team struck with an undisclosed entity. To date, 1.875 million HYPE has been allocated to five OTC buyer wallets, with each receiving 375,000 tokens—accounting for 50% of the total 3.75 million HYPE allocated in this OTC deal.

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Eric Trump: AI will become the fastest driver of growth for the crypto industry, and capital will continue to rotate between the two sectors.

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Hacker who stole nearly $55 million from Uranium Finance found guilty, faces up to 20 years in prison.

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Chair of the U.S. House Financial Services Committee: SEC and CFTC’s crypto regulatory actions remain insufficient, and he hopes the CLARITY Act will be passed after the midterm elections.

U.S. House Financial Services Committee Chairman French Hill stated that while the SEC and CFTC have taken steps to advance crypto regulation, these actions still fall short of the long-term stability congressional legislation can deliver. After the Senate failed to pass the Digital Asset Market Clarity (CLARITY) Act last month, the two regulators unveiled related rulemaking plans, but Hill argues permanent legislative changes are still needed to ensure the U.S. retains its leadership in digital assets and blockchain technology. In an interview with Fox Business, Hill said he remains hopeful Congress will pass the CLARITY Act during the post-midterm election lame-duck session. Between the November election and the swearing-in of the new 2027 Congress, the Senate will only have 22 legislative days. Election results could sway lawmakers’ voting stances on the bill. The two regulators currently have a combined seven vacant commissioner seats: after Hester Peirce announced her resignation last week, the SEC is left with only Chairman Paul Atkins and Commissioner Mark Uyeda, while CFTC Chairman Michael Selig is the agency’s sole serving commissioner.

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HyperLabs has completed the unstaking redemption of 3.75 million HYPE, equivalent to approximately $332 million.

According to on-chain analyst Yu Jin’s monitoring, the 3.75 million HYPE tokens (valued at $332 million) that HyperLabs, the development team behind Hyperliquid, applied to unstake seven days ago have been successfully redeemed just two minutes ago.

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Escalating tensions in the Middle East boost safe-haven demand, with the US Dollar Index approaching its year-to-date high.

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