Traders Show Increased Selectivity Amidst Early Signs of Altseason
- Memecoin launchpad PONS surged over 350% in the last month.
- Uniswap’s UNI rose more than 110%, while Arbitrum’s ARB increased over 150%.
- Privacy token Zcash reached a record high above $1,600 last week.
- The top ten altcoins now make up roughly 80% of total altcoin market capitalization, up from around 70% at the end of the previous year.
- Talos reports a strong buying tilt, with purchases dominating almost every day in September.
Recent data indicates that traders are increasingly focusing on assets with tangible utility rather than speculative options, as seen in the significant gains of revenue-generating protocols and privacy tokens. The current CoinMarketCap Index sits at **64 out of **100**, indicating potential for an official altseason if it surpasses **75**.
Overall, this emerging trend highlights a shift towards more discerning investment strategies among traders, evidenced by PONS’ remarkable growth and Zcash’s record price.(Source)
