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Best Crypto to Buy After TOTAL2 Chart Hits New ATH: Altcoin Boom Incoming?
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Best Crypto to Buy After TOTAL2 Chart Hits New ATH: Altcoin Boom Incoming?

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

An altcoin season has been in the oven for quite some time now. And the latest breakout of the TOTAL2 chart could be one of the biggest confirmations that 10-100x gains are now closer than ever.

The TOTAL2 chart, also known as the altcoin chart, tracks the total market capitalization of all the cryptos except Bitcoin.

Just yesterday, it created a new all-time high, when it breached the $1.7T mark – its previous ATH that was set way back in November 2021.

Both experts and everyday crypto enthusiasts are now looking at this as the perfect time to stack their portfolios with some low-cap, high-upside altcoins.

Read on as we unpack more details about the upcoming alt season. Plus, we’ll also point you towards the best cryptos to buy right now.

Historical Data Suggests Altcoin Market Cap Could Gain 260%

The last time the TOTAL2 chart broke a major ATH was back in 2021, when it crossed the $475B mark set in 2017. That resulted in a 260% move after the breakout.

And what’s happening right now looks so similar. How? Because this time too we’re breaking a 4-year long ATH.

Merlijn The Trader, a crypto analyst with nearly 394K X followers, highlighted that the current breakout is coming from a long-drawn Cup and Handle pattern.

Source: @MerlijnTrader on X

According to classic technical analysis, we can measure the cup’s width and add that distance to the breakout point to calculate a potential target.

This target comes out to be a whopping $6T, which happens to be a neat 260% gain from current levels. An extraordinary confluence!

Looking to make the most of this altcoin season? Here are three of the best altcoins you should consider including in your portfolio.

1. Bitcoin Hyper ($HYPER) – New BTC Layer 2 for Speed, Scalability & Web3

Don’t mistake Bitcoin Hyper ($HYPER) for just another BTC-themed crypto looking to ride the altcoin boom.

This new cryptocurrency project is filled to the brim with utility, seriousness, and backing from deep-pocketed investors.

$HYPER is building a new Layer 2 solution for Bitcoin, aiming to solve the network’s long-standing issues of speed, cost, and programmability.

Right now, Bitcoin is the slowest mainstream crypto. It processes just 7 transactions per second (TPS), as opposed to Solana’s 65K.

$HYPER will act as a fast side lane, executing thousands of transactions at once, and that too, while retaining Bitcoin’s top-notch security.

Plus, thanks to Bitcoin Hyper’s Solana Virtual Machine (SVM) integration, developers will now be able to build smart contracts and decentralized applications on Bitcoin.

This will unlock a never-before-seen Web3 environment on Bitcoin, with DeFi trading, NFTs, lending, staking, swapping, DAOs, and gaming.

Currently in presale, Bitcoin Hyper has already pulled in over $15.66M from early investors, with each token priced at just $0.012915.

According to our Bitcoin Hyper price prediction, the token could hit $0.32 by year-end, churning out a mind-blowing 2,400% ROI.

Interested? Here’s our detailed guide on how to buy Bitcoin Hyper.

Visit $HYPER’s official website to learn how you can use its Canonical Bridge to interact with Bitcoin’s new Web3.

2. Snorter Token ($SNORT) – Powering a New Telegram Trading Bot for Meme Coin Sniping

Snorter Token ($SNORT), like Bitcoin Hyper, combines great memetic appeal (thanks to its wholesome aardvark) with a potentially revolutionary mission.

$SNORT is the firepower behind Snorter Bot, a brand-new Telegram trading bot built to eliminate the dominance of crypto whales in the meme coin trading space.

Snorter lets you place buy/sell trade orders well before liquidity kicks in. Then, it automatically executes those orders once liquidity arrives.

The result? Retail participants can finally participate in early meme coin pumps, which is usually where the wildest gains come from.

Even better? Snorter is just as secure as it is easy to use. In addition to safeguards against rug pulls and honeypots, the bot will also protect you from front-running and dangerous sandwich attacks.

With over $3.9M in early funding so far, Snorter Token is undoubtedly one of the best low-cap coins to buy right now.

1 $SNORT is currently available for just $0.1043, and according to our Snorter Token price prediction, a $100 investment right now could turn into $900 by the end of 2025.

Beyond handsome gains, buying $SNORT will also unlock advanced analytics, reduced trading fees (just 0.85%), staking rewards (currently 119%), and no daily sniping limits.

Check out Snorter Token’s official website to find out all the benefits of this new Telegram trading bot.

3. Moo Deng ($MOODENG) – Viral Animal-Themed Meme Coin with a Fresh Breakout

Moo Deng ($MOODENG) could be just the best meme coin to include in your crypto portfolio for the upcoming altcoin season.

Complementing your portfolio with a pure hype-fueled meme coin like $MOODENG is a smart way to churn out outsized returns.

Well, aren’t pure meme coins risky? Sure, but that’s why it’s advised to only allocate a small percentage of your portfolio to them.

Moo Deng, in particular, is based on a viral cute-looking, playful baby pygmy hippopotamus named, well, Moo Deng.

The token debuted in September 2024 and shot up nearly 3,000% in just a few weeks. Then came a deep correction.

However, after an explosive May, $MOODENG is now looking extremely bullish. For instance, it has gained over 58% in just the last seven days.

The best part? It has just broken out of a major resistance – a downward-sloping trendline – and now looks primed for at least a 300% rally from current levels.

Want in? Buy $MOODENG on OKX, or any of the other crypto exchanges it’s listed on.

Disclaimer: Crypto investments are highly risky due to the market’s volatility. This article is not financial advice. Kindly do your own research before investing.

Authored by Krishi Chowdhary, Bitcoinist – https://bitcoinist.com/best-crypto-to-buy-after-total2-chart-new-ath-altcoin-boom-incoming

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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SEC delays decisions on Bitwise Dogecoin and Grayscale Hedera altcoin ETFs
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SEC delays decisions on Bitwise Dogecoin and Grayscale Hedera altcoin ETFs

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The U.S. SEC has extended its review of the Bitwise Dogecoin and Grayscale Hedera ETF applications, pushing both deadlines to Nov. 12 amid a growing backlog of altcoin ETF filings.

Summary

  • The SEC delayed NYSE Arca’s Bitwise Dogecoin ETF and Grayscale’s Hedera ETF to Nov. 12.
  • The agency has repeatedly extended deadlines for multiple altcoin ETFs, including Solana and XRP products.
  • Bloomberg data shows 92 altcoin ETF applications are now pending, with Solana and XRP drawing the most institutional demand.

The U.S. Securities and Exchange Commission has postponed its decisions on two proposed altcoin ETFs, extending the review period until Nov. 12.

The agency said on Tuesday that it is delaying action on NYSE Arca’s application to list the Bitwise Dogecoin (DOGE) ETF, originally filed in March. On the same day, the SEC also extended its review of Grayscale’s Hedera (HBAR) ETF filing, giving the product the same November deadline.

The delays continue a pattern in which the SEC has opted to use the maximum time allowed under statutory review windows. The SEC has already delayed multiple decisions in recent weeks, including filings tied to Solana (SOL), Ripple (XRP), and other altcoin ETFs.

The current altcoin ETF landscape

The backlog of pending altcoin ETF applications continues to grow. According to Bloomberg Intelligence analyst James Seyffart, there are now 92 crypto-related exchange-traded products awaiting regulatory decisions. Among them, SOL and XRP are drawing the strongest institutional demand, with eight and seven ETF applications pending, respectively.

Meanwhile, momentum is building for new products. On Sept. 8, the agency acknowledged a filing for the Canary Staked SEI ETF, officially starting the review process for what would be the first U.S.-listed SEI fund.

NEW: Here is a list of all the filings and/or applications I’m tracking for Crypto ETPs here in the US. There are 92 line items in this spreadsheet. You will almost certainly have to squint and zoom to see but best I can do on here pic.twitter.com/lDhRGEQBoW

— James Seyffart (@JSeyff) August 28, 2025





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Altcoin
Crypto Trends

Altcoin Market Completes Highest Monthly Close Ever: What This Means For Alt Season

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The crypto market’s next direction has spent recent weeks in uncertainty, with Bitcoin trading below $112,000 and large market cap altcoins moving in unclear directions. Nonetheless, beneath the short-term swings, a major technical shift is quietly unfolding in the altcoin market. 

According to analysis by crypto analyst CrypFlow, the total market capitalization of altcoins (excluding Bitcoin) has just completed its highest monthly close on record. This close could change the conversation around whether a new alt season is about to begin.

Breakout Beyond Previous Cycle Tops

Although August ended with many cryptocurrencies closing below their highs for that month, analysis of the altcoin market cap shows that the altcoin market managed to register its highest monthly close ever. 

Interestingly, crypto analyst CrypFlow pointed to the long-term monthly chart of the altcoin market, which shows how the current rally is building on historical cycle patterns. After the cycle top in 2018 and another in 2021, followed by the 2022 bottom, the chart now shows a close above a breakout line. The breakout line on the chart is the culmination of an upward trend that has been forming since the 2022 cycle bottom, which is connected by a series of higher lows.

Source: Chart from CrypFlow on X

The most recent monthly close is also a breakout above the cycle top in 2021, and the altcoin market now has a total valuation of around $1.6 trillion. This highest monthly close, alongside some bullish divergence indicators, shows that the altcoin market cap may be preparing for a strong rally just like after it closed above the 2018 cycle top back in 2020.

One of the most notable confirmations comes from the MACD, which has just crossed into bullish territory on the monthly timeframe. As noted by CrypFlow, this kind of signal is rare and often precedes large upside moves. Interestingly, the RSI, too, is just above the midpoint, meaning the altcoin market cap still has a long way to go before being oversold.

What This Means For Alt Season

As it stands, the altcoin market is about to enter into a bullish period that could determine the rest of the year. Past cycles have shown that many altcoins typically deliver their strongest performances between October and December. As shown in the chart above, the altcoin market cap also closed above its 2018 in late 2020.

If this late-year trend repeats itself, the current breakout could be the trigger for one of the most decisive altcoin rallies yet. Going by the previous performance in 2020 and 2021, the altcoin market could register multiple bullish candles in the months left in 2025 and the first few months of 2026. This, in turn, could translate into a full-blown altcoin season for altcoins round the board. But this all depends on how large market cap altcoins like Ethereum and XRP perform in the rest of the year.

Overall crypto market cap excluding BTC at $1.62 trillion | Source: TOTAL2 on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Dogecoin Leads Altcoin Rally as XRP, Tron and Solana Rise

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In brief

  • Dogecoin jumped 5.1% to $0.22, buoyed by news of a proposed ETF from REX Shares.
  • TRON gained 2.4% after headlines tied to founder Justin Sun, while XRP added 2%.
  • September’s rate cut expectations and renewed retail activity could set the stage for a stronger Q4.

Altcoins are starting to rise, with Dogecoin leading the weekend rally among the top ten altcoins, following muted price movements last week from Bitcoin.  

Dogecoin is currently trading at $0.22 following a 5.1% jump in the past 24 hours. TRON has a modest gain of 2.4% while XRP is up 2% in the same period, CoinGecko data shows.

The crypto markets, including Dogecoin and TRON, are up after an “overreaction” to Friday’s U.S. unemployment numbers, Stephen Gregory, founder of crypto trading platform Vtrader, told Decrypt, who believes that an “alt-season is brewing” despite the recent sell-off.



While the macroeconomic outlook was a main driver and set the tone for both the crypto and equity markets’ sentiment on Friday, the announcement of a Dogecoin exchange-traded fund by REX Shares, an ETF provider, has helped the seminal meme coin’s weekend surge.

Referring to the Dogecoin ETF news, Nate Geraci, President of NovaDius Wealth Management, said, “I think we’re in for wild next 2 months for crypto ETFs,” in a Sunday tweet. 

TRON, on the other hand, is up as Justin Sun’s stunt with the WLFI token, said Gregory. “This got a lot of headlines and ignited some passion in the degen base of crypto,” he added.

Sun made headlines on Friday after the Trump family’s World Liberty Financial DeFi project blacklisted his wallet for testing exchange deposits. 

With September rate cut odds above 90% and “retail engaged,” Gregory believes the third quarter’s historically bearish performance could be a “fun setup” into the year-end. 

While the fourth quarter is expected to be bullish according to many analysts, the short-term outlook remains uncertain due to the tentative macroeconomic conditions.

The Fed is in a tight spot, as its dual mandate of both price stability and maximum employment is conflicting after Friday’s weak jobs data and core inflation hovering above 3%, as Decrypt previously reported.

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Bitcoin Cash Shines Amid Altcoin Bloodbath, Volume Jumps 32%
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Bitcoin Cash Shines Amid Altcoin Bloodbath, Volume Jumps 32%

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Amid the downward trend that hit altcoins in the last 24 hours, Bitcoin Cash (BCH) has defied the odds. The asset has seen a spike in volume and an appreciable increase in price outlook. CoinMarketCap data shows that BCH registered an over 32% increase within this time frame.

Institutional and retail demand for BCH drive momentum

Notably, the spike came as institutional interest in Bitcoin Cash pushed the asset’s open interest up by over 23%. There was also an increase in retail interest following the bullish performance of BCH in July. Notably, the coin outperformed Bitcoin, the leading digital asset, by 20% in July.

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Bitcoin Cash’s Relative Strength Index (RSI), which is at 58.85, confirms the asset’s bullish momentum, leading to increased activity by investors. This has pushed trading volume up by 32.12% to $703.98 million.

With volume over $500 million, market participants need to keep a watchful eye on the asset as sentiments could easily shift from neutral to greed.

Bitcoin Cash has recorded a boost in price as the coin reached an intraday peak of $618.56 before witnessing a major correction. As of this writing, BCH was changing hands at $601.39, representing a 0.95% increase in the last 24 hours.

Bitcoin Cash Daily Price Chart | Source: CoinMarketCap

Can Bitcoin Cash hold $600 level?

The current bullish momentum of Bitcoin Cash was ignited within the week as it formed a golden cross on its hourly chart. At the time, BCH was trading at $560, but the asset has since gained over $40 to flip the $600 price level.

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The price uptick has increased Bitcoin Cash’s ranking in the cryptocurrency market. It has climbed from the 15th position and now ranks 14th. The asset is on a bullish wave despite the struggling outlook of most altcoins.

However, with price trading near $600, market watchers are monitoring to see if ecosystem bulls have enough momentum to keep it from crashing below this level.



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Altcoin Season Suggested by Bullish Options Action
Crypto Trends

Altcoin Season Suggested by Bullish Options Action

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Sharp gains in alternative cryptocurrencies could define the year-end, with SOL, XRP, and TRUMP poised to lead the charge, crypto options and derivatives platform PowerTrade said Tuesday.

“Traders were placing bets for altcoin season running into year-end with strong upside call activity for end-of-December expirations in AEVO, AR, DOGE, ENA, HYPE, LINK, MOG, PAXG, SOL, TIA, TRUMP and ZRO,” Bernd Sischka, Co-Founder and Chief Commercial Officer at PowerTrade told CoinDesk, explaining the market flows in August.

The platform registered a cumulative trading volume of over $1 billion in August – with call options making up roughly 68% of total trades—an unmistakable sign that investors are leaning towards upside plays rather than protective hedges. A call option gives the holder the right, but not the obligation, to purchase the underlying asset at a predetermined price on or before a specific date, representing a bullish bet on the market.

Solana stood out again, attracting heavy call buying in September and December expirations, with strike prices set well above current levels. Traders appear confident that the native token of the Solana blockchain will chalk out a breakout rally in the fourth quarter.

Meanwhile, XRP experienced unusually large block trades in the December expiry calls, suggesting growing optimism around potential regulatory clarity or ecosystem developments. In a quirky twist, traders took massive call spreads in TRUMP options, anticipating a volatility boom.

Meme coins like dogecoin DOGE$0.2139 and pepe PEPE$0.0₅9774 drew mostly retail interest, but tokens like WIF witnessed rising open interest, signaling that institutional investors are quietly building positions, especially in more established altcoins.

The platform emphasised that institutions are playing a larger role, engaging in block RFQs (request-for-quotes) on bitcoin and ether volatility, as well as sizable altcoin trades that combine hedging and speculative bets. “With Fed policy steady and liquidity returning, stars are aligning for a monster altseason end of year,” it said.

Broadly speaking, PowerTrade’s report revealed growing speculation in the broader market, extending beyond bitcoin and ether, with both retail and institutional participants preparing for significant gains in altcoins in the coming months.

While PowerTrade’s overall trading volume remains significantly smaller compared to industry giant Deribit, it distinguishes itself by offering options tied to smaller altcoins. This specialization allows traders to hedge their exposure and capitalize on price movements in these more volatile, less widely covered tokens, an opportunity often not available on larger platforms.



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Crypto Trends

Altcoin Season? These Coins Are Soaring as Bitcoin and Ethereum Take a Breather

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In brief

  • Altcoin Season Index data suggests market rotation as Bitcoin dominance drops.
  • Ethereum continues to build momentum while Bitcoin’s appears to stall.
  • But one altcoin stood above the rest today: Crypto.com’s Cronos, or CRO. Here’s why

Grab your umbrellas crypto traders, it looks like altcoin season might be here again.

Altcoin season refers to periods when alternative cryptocurrencies significantly outperform Bitcoin, typically marked by capital rotation from BTC into smaller, more volatile assets. It’s essentially a great time for non-Bitcoin maxis. During a relatively brief period—typically weeks or months—the values of altcoins soar as investors move their funds from Bitcoin to other coins.

With the crypto market holding above $3.9 trillion today, CoinMarketCap’s Altcoin Season Index is now back up to 53 out of 100. That’s not nearly as high as back in December 2024, when the index hit a whopping 87 points, but it has been trending up consistently since April, when it hit a low of 12.



As we covered yesterday, market data at the moment points to a rising interest in alternative crypto assets to Bitcoin.

Altcoin Season Index. Source: CoinMarketCap

Coinbase Institutional’s global head of research, David Duong, wrote two weeks ago that current market conditions were already then signaling the early stages of an altcoin season, noting that Bitcoin dominance declined from 65% in May to 59% in August.

This decline in BTC dominance—when Bitcoin’s share of total crypto market cap shrinks—is the classic harbinger of altcoin season.

Key macro indicators suggest we’re in a transitional phase. The Federal Reserve’s stance on interest rates remains crucial, with lower inflation and looming rate cuts from the Fed potentially driving liquidity back into risk assets like cryptocurrencies and fueling altcoin rallies. Additionally, improving market liquidity and growing stablecoin issuance provide the fuel altcoins need to run.

”That market thesis has mostly played out as we expected, given the alignment of stronger than expected macro conditions and a clearer crypto regulatory framework,” Duong’s report noted.

So is it time to move your bags? That depends on your risk appetite. At the moment, though, as Bitcoin and Ethereum—the two biggest crypto assets by market cap—catch their breath, other coins are starting to run: Solana is up more than 16% over the last week while Hyperliquid has notched gains above 14%.

And that’s nothing compared to Crypto.com’s CRO. Here’s what the charts are looking like.

Cronos (CRO) price: Trump Media fuels historic rally

No other altcoin today is pumping as hard as Cronos, which trades as CRO, the native token of the Crypto.com trading platform.

The token is up more than 120% in the last seven days, now trading for $0.31. Why? The Trump pump, naturally.

Trump Media, the President Trump-owned company behind the social media platform Truth Social, has made several business dealings with Crypto.com over the last few months. But most recently, the companies announced a plan to integrate Crypto.com’s wallet infrastructure on Truth Social and adopt CRO as a utility token for rewards and subscriptions on the platform.

Cronos (CRO) price data. Image: TradingView

The companies will also exchange investments: Trump Media will buy $105 million in CRO (~2% of supply), and Crypto.com will acquire $50 million in DJT shares. The deal includes creating a $6.4 billion treasury focused on CRO accumulation, instantly making it one of crypto’s most ambitious corporate treasury plays.

And, well, being backed by the president of the United States is a pretty strong thing to add to your fundamental analysis of any asset.

But CRO’s charts show how unnatural FUD and FOMO can affect the crypto market.

The Average Directional Index, or ADX, for Cronos is at 39 indicates, which indicates a powerful trend in place. ADX measures trend strength, regardless of direction, on a scale from 0 to 100. Anything above 25 confirms a trend, and anything above 40 is considered a very strong trend.

The token’s Relative Strength Index, though, is at 89, which is typically considered dangerously high. RSI measures trading momentum, likewise on a scale from 0 to 100, and usually anything above 70 is considered “overbought” and ripe for a correction. At 89, CRO is in severely overbought territory, which usually triggers profit-taking. On the other hand, in times of FOMO, high RSI readings can hold during the kind of parabolic move CRO is currently experiencing.

Exponential moving averages, or EMAs, can give traders a sense of where price supports and resistances on chart are at the moment. Traders will look at the 50-day EMA, the short-term average, and the 200-day EMA, the long-term average price, to measure the distance between those averages at the current price of the asset.

With CRO, the spread between the 50-day EMA and the 200-day EMA is expanding rapidly, with current price action far above both, confirming strong bullish momentum.

Support for the token sits at $0.18 (the breakout level) while resistance rests at $0.40 (the psychological target).

Bitcoin (BTC) price: The sleeping giant

For context, Bitcoin’s daily performance will look boring to thrill-seeking degens in search of market action.

Bitcoin opened the day at $111,272 and currently trades at $112,497—up a modest 1.1% after reaching an intraday low of $110,876. The king of crypto appears to be consolidating and struggling to resume its bullish trend, which historically creates opportunities for altcoins to shine.

Bitcoin (BTC) price data. Image: TradingView

From a technical perspective, BTC’s ADX sits at a weak 17, indicating that the current global bullish trend is already too weak to be considered solid. ADX readings below 20 signal choppy, directionless trading. This lack of momentum creates the perfect environment for altcoin rotation.

The 50-200 EMA configuration shows BTC trading between these key averages, with the 50-day EMA providing resistance around $114,000 while the 200-day sits lower near the $104,000 price zone. Traders would widely see this as bearish. But it’s not nearly bad enough to start hearing talk of death crosses or crypto winters—yet.



The lack of “squeeze” signals between moving averages show that prices may keep their direction in the short term until they find a stronger support. The RSI at 45 leans slightly bearish but isn’t oversold, suggesting room for movement in either direction.

Key Levels:

  • Immediate support: $108,000 (psychological level)
  • Immediate resistance: $114,500 (EMA50)
  • Strong resistance: $120,000 (recent rejection zone)

Ethereum (ETH) price: Building momentum

The day’s Ethereum chart tells a more bullish story.

ETH today opened at $4,507, spiked towards $4,631 (2.7% above current price) before correcting to its current price around $4,494.

The price has barely moved, but it is currently registering lower highs and higher lows throughout the week, without losing its key support.

Ethereum (ETH) price data. Image: TradingView

The ADX at 36 confirms a strong trending environment. ADX readings above 25 indicate established trends, and at 36, we’re seeing confirmed directional movement that trend-followers rely on. This suggests Ethereum’s recent strength isn’t just noise but represents genuine market conviction.

The 50-day EMA sits well below current prices, providing solid support in the $4,000 zone, and the 200-day EMA acts as a foundation near $3,000. This bullish stack where shorter-term averages support higher prices typically occurs in strong uptrends and gives buyers multiple opportunities to enter on dips.

RSI at 56 shows healthy momentum without being overbought. After ETH’s massive rally from $3,000 to over $4,600, this middling RSI represents healthy consolidation with a market digesting gains without becoming oversold, suggesting accumulation rather than distribution.



The Squeeze Momentum Indicator status is “on,” which is highly significant for traders. This indicator identifies periods when volatility compresses before explosive moves. When it fires “on,” it signals a breakout from consolidation is underway in either direction. However, combined with the bullish price action above key averages, the symmetrical triangle in formation and the overall bullish indicators, things seem to point towards increased volatility likely to the upside.

Key Levels:

  • Immediate support: $4,200
  • Strong support: $3,900 (200-day EMA zone)
  • Immediate resistance: $4,786 (weak resistance)
  • Strong resistance: $5,000 (major psychological target and new ATH)

Bitcoin’s weak ADX and neutral momentum create perfect conditions for altcoin outperformance while Ethereum’s technical strength suggests the second-largest crypto could lead any broader altcoin rally. If the typical red September to green October pattern repeats this year, the last quarter could act as a catalyst for a full-scale altcoin season.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Kindly MD’s $5B Bitcoin Play Comes as DATs Raise Fears for Wider Altcoin Liquidity

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In brief

  • Nasdaq-listed Kindly MD filed an automatic shelf registration for up to $5 billion.
  • The move follows a $679 million Bitcoin purchase through its subsidiary.
  • Analysts warn Bitcoin-focused treasuries may drain liquidity from altcoins.

Nasdaq-listed healthcare firm Kindly MD filed an automatic shelf registration statement with the SEC on Tuesday, electing to distribute up to $5 billion in stock as it expands its capital reach following a $679 million Bitcoin purchase last week.

“Bitcoin will serve as our primary treasury reserve asset, and we are focused on accumulating a long-term Bitcoin position,” Kindly MD stated in the filing.

The filing establishes Kindly MD as a Well-Known Seasoned Issuer, a designation that allows the company to tap capital markets with more flexibility. 



It also authorizes a mix of instruments beyond common stock, with distribution handled by underwriters including Cantor Fitzgerald, TD Securities, and B. Riley Securities in the U.S., as well as Canada’s Canaccord Genuity, among others.

Last week, Kindly MD disclosed a $679 million Bitcoin purchase through its subsidiary, Nakamoto Holdings, marking the first acquisition under its new treasury reserve strategy in a move it said reinforces its “conviction in Bitcoin” as “the ultimate reserve asset” for corporations and institutions.

While the WKSI status “clearly gives a company an advantage in capital raising,” it also imposes pressure “due to the large issuance volumes and high market volatility risks,” Jay Jo, senior analyst at Tiger Research, told Decrypt.

At the expense of altcoins

“Institutional crypto exposure has, without fear, expanded into corporate balance sheets and treasury strategies,” Kelvin Koh, co-founder and CIO at Asia-based venture capital firm Spartan Group, told Decrypt. 

This has been the case since “the approval of U.S. Bitcoin ETFs in early 2024,” which had aligned with the Trump administration’s pro-crypto policies that “have eventuated as promised,” Koh said.

Those events have “normalized crypto exposure” and “opened the door for altcoin-focused digital asset treasuries,” he added.

Yet the continued accumulation and expansion of DATs might open broader trade-offs, Koh opined.

“While DATs bring significant liquidity to the assets they target, for now this may be at the expense of the wider altcoin market,” he said.

Koh co-authored a separate research paper on the future trajectory of DATs, where he traced the trend’s first forays.

“DATs were almost exclusively Bitcoin-focused, with their appeal grounded in Bitcoin’s narrative as a scarce, non-sovereign store of value acting as a hedge against fiat currencies,” Koh wrote.

As a model, DATs rely heavily on raising equity to buy crypto, giving them high exposure to volatility that could cut off new capital and force asset sales that risk amplifying market declines, the paper argues.

“When hundreds of firms pursue the same strategy, the market structure becomes fragile,” Koh warned.

Decrypt has approached Kindly MD for comment.

Editor’s note: This story’s headline has been updated to better reflect Koh’s statements.

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Altcoin Season May Be Brewing, But Will Be More Selective, Analysts Say

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A group of major altcoins have bounced stronger than bitcoin

on Wednesday, showing relative strength despite a weakening risk appetite in broader capital markets.

BNB (BNB), the native token of the BNB Chain and closely adjacent to crypto exchange giant Binance, surged 6% to a fresh all-time high of $875.

Ethereum’s ether (ETH) rebounded 7% from the overnight lows to $4,350, erasing all of Tuesday’s losses. Some observers speculated that ETH treasury firms buying the asset could have fueled the rally.

Solana’s SOL (SOL) gained 6.1%, also outpacing yesterday’s decline, while tokens of ChainLink

and AAVE were up 10% and 7%, respectively.

Meanwhile, the leading crypto BTC advanced a modest 1.4% from the lows, changing hands at just above $114,000. Major stock indexes, the S&P 500 and the tech-focused Nasdaq, closed 0.2% and 0.5% lower.

While it might be too early to call for any bottom with rocky next few days and weeks ahead on the macro front, the relative strength of altcoins versus bitcoin is notable during a risk-off period.

Bitcoin’s dominance, measuring the largest crypto’s market share in the total market capitalization of digital assets, is on the brink of making a fresh six-month low, signaling that smaller, riskier tokens are taking leadership in market gains, often dubbed as “altcoin season.”

Bitcoin dominance (TradingView)

Still, hopes for repeating past cycles’ breakneck altcoin action might be unrealistic, ByteTree analysts led by Shehriyar Ali and Charlie Morris noted.

“An alt season may be brewing, but it will not look like the wild rallies of the past,” the report said. “Instead, it will be defined by selective, fundamentals-driven growth, rewarding quality projects and penalising those without substance.”

Read more: Hawkish FOMC Minutes Knocks Legs Out of Crypto Bounce



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HYPE, SUI Lead Altcoin Losses as Ethereum Dips Under $4,300

by admin



In brief

  • Hyperliquid (HYPE) and SUI led losses among major altcoins as Bitcoin’s correction from $118,000 to $115,000 triggered widespread liquidations.
  • The selloff comes ahead of Thursday’s Jackson Hole Economic Symposium, with analysts noting funding rates had been “warning of trouble” and higher-than-expected PPI data forcing markets to scale back September rate-cut expectations.
  • Analysts called the market move “a corrective pullback within an uptrend” but warned that if Ethereum breaks below $4,150 support, further cascading liquidations could target the $3.9k–$3.6k range.

Ethereum’s slip below $4,300 set off a chain reaction across crypto markets Monday morning, wiping out more than $487 million in long positions and leaving altcoins bleeding.

Hyperliquid (HYPE) plummeted 8.7% to $43.38 while Sui (SUI) crashed 7.3% to $3.55, leading a brutal selloff across altcoins.

Ethereum (ETH) shed 5.4%, Solana (SOL) tumbled 5.6%, and Cardano (ADA) declined 6.2%, according to CoinGecko data.

XRP (XRP) fell 4.5%, Stellar (XLM) dropped 5.4%, and Dogecoin (DOGE) retreated 4.6% in the last 24 hours.

“This looks like a fairly natural pullback after the strong run many cryptocurrencies had seen in recent weeks, with liquidations amplifying the downside across the market,” Nansen analyst Nicolai Sondergaard told Decrypt.

“Since altcoins tend to react more sharply during these periods, tokens like HYPE and SUI experienced even steeper declines,” Sondergaard noted, pointing out that Bitcoin’s sell-off triggered the declines.

Traders brace for Jackson Hole meeting

The liquidation cascade comes ahead of Thursday’s Jackson Hole symposium, with QCP Capital analysts sharing in their latest report how “some traders believe that the overnight washout reflects de‑risking ahead of the symposium,” where Fed Chair Jerome Powell takes the stage.

Held each August in Jackson Hole, Wyoming, the symposium gathers the Fed, global central bankers, and policymakers.

QCP analysts added that “BTC funding rates had been warning of trouble” with rates turning negative by Saturday despite spot prices rising over the weekend.

“The U.S. PPI came in higher than expected, forcing markets to quickly scale back September rate-cut bets that earlier signs of labor market softness had elevated,” Dan Chen, analyst at crypto exchange Bitunix, told Decrypt.

Chen called the selloff “a corrective pullback within an uptrend” and said the market may consolidate through Jackson Hole if Ethereum “can hold support near $4,150” before resuming its advance.



However, he warned that “a breakdown risks further cascading liquidations with downside targets in the $3.9k–$3.6k range, where altcoins—especially HYPE and SUI—are likely to stay relatively weaker.”

Some 75% of Ethereum’s $206.79 million in liquidations in the last 24 hours came from long positions, totaling more than $180.52 million, according to CoinGlass data.

“The mounting queue of soon-to-be-unstaked ETH could be driving the asset’s recent retracement,” Juan Leon, Bitwise Senior Investment Strategist, previously told Decrypt.

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