Altcoins Rally as Solana Tops $120, Altseason Index Hits 56
Altcoins beat Bitcoin as Solana crossed $120 for the first time in eight months, XRP neared $1.57 and the Altcoin Season Index hit a three-month high.
While Bitcoin sat still near $84,000, a broad group of altcoins moved higher. Solana (SOL) climbed above $120 for the first time in eight months, XRP rose to about $1.57, and the Altcoin Season Index reached 56 out of 100, its highest reading in more than three months. A week earlier it stood at 45.
Key takeaways
- 93 of the 100 largest tokens in one widely followed index rose over 24 hours. Mid-cap tokens gained about 4.7%, against about 1% for the biggest coins.
- Solana hit about $122 (+4%), and XRP about $1.57 (+2% on the day and about 15% over a week).
- Quant (QNT) jumped 39% to about $99, Ondo 32%, Lido 20% and Chainlink 12% to about $13.70.
- An index reading of 56 is not yet "altcoin season", which is usually defined as 75 or higher.
Biggest movers
| Coin | Price | 24h move |
|---|---|---|
| Quant (QNT) | ~$99 | +39% |
| Ondo (ONDO) | - | +32% |
| Lido DAO (LDO) | - | +20% |
| Chainlink (LINK) | ~$13.70 | +12% |
| NEAR Protocol (NEAR) | ~$4.97 | +9% |
| Solana (SOL) | ~$122 | +4% |
Prices as of early 26 September (UTC). See live prices in INR on our top gainers and losers page.
What drove the move
The common thread was tokenisation, the idea of putting bank deposits, bonds and funds on blockchains. Quant's jump came as The Clearing House, a US bank-owned payments network that handles more than $2 trillion a day, picked Quant as the interoperability layer for its on-chain money project, on top of news that UK banks had completed tokenised-deposit payments using Quant's technology. Ondo rose after launching tokenised portfolios built with BlackRock funds, and Chainlink, which connects blockchains to outside data, moved with the theme.
Solana and XRP benefited from steady ETF inflows. US Solana funds took in about $33 million on Thursday and XRP funds about $15 million. Total value locked in DeFi rose about 3% to $87.7 billion.
What it means for Indian investors
Rotations into altcoins can be fast, and they often reverse just as fast. Tokens that rise 30% to 40% in a day can give back much of that within a week, as several did after a similar surge earlier this month. If you want exposure, size positions small, avoid chasing after a big green candle, and remember that every profitable sale is taxed at 30% in India plus 1% TDS, with no set-off for losses. Our explainer on altcoins and altcoin season covers how the index works, and you can check live rates for Solana in INR and XRP in INR.
FAQ
Is altcoin season here?
Not yet. The Altcoin Season Index is at 56. Altcoin season is usually called when 75% of the top 50 coins beat Bitcoin over 90 days.
Why is Quant (QNT) going up?
QNT rose after The Clearing House chose Quant for its on-chain money project and UK banks completed tokenised-deposit payments on Quant's technology.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
