Today saw explosive moves in the altcoin markets, with CFX gaining over 100% on renewed hopes for Layer 1 ecosystem growth and Chinese blockchain news. We dig into what's behind the top movers, the industry buzz on Twitter, and how traders are positioning ahead of a potential altseason ripple.
Surge in low-cap Layer 1 tokens (CFX, CKB) signals shift in risk appetite. Meme coins with utility concepts (like M) are gaining traction. DeFi watchers eye slippage concerns on CVX’s Curve pools.
If you blinked, you missed it. CFX (Conflux) ran a blistering 104.4% in just 24 hours, topping our crypto leaderboard and igniting speculation around the return of Layer 1 hype cycles. Other altcoins like CKB (+43.66%), OM (+32.24%), TRAC (+26.72%), and M (+24.39%) also made healthy double-digit strides, with sentiment rising thanks to on-chain activity and fresh narratives sweeping Crypto Twitter.
Conflux’s pump is traced to developments out of Hong Kong. With increased talk of blockchain infrastructure collaborations across Asian markets, traders seem to be front-running headlines. Rumors of a government partnership and NFT pilot program are bouncing around Telegram circles, though nothing official has been confirmed. Markets, as usual, aren’t waiting for the paperwork.
Layer 1 protocols are crawling back into the spotlight. While major players like Solana and Avalanche consolidate off their Q2 highs, smaller L1s like Conflux (CFX) and Nervos Network (CKB) are catching speculative winds. Nervos’s 43.66% pop today tracked closely with a sudden on-chain spike in wallet activity. A potential ERC-20 bridge update could be in the works, but again—no confirmation. What we are seeing: a strong rotation into Asian-affiliated blockchains and Chinese-linked tokens, possibly as traders bet on regional catalysts post a regulatory crackdown in the West.
Meanwhile, Mantra (M), a little-known DAO infrastructure provider, jumped 24.39% following their tweeted teaser about an upcoming gamified staking system. The low float and cult following likely amplified the move.
In a sea of green, the red names were more like caution flags than sirens. VENOM dipped -3.3%, followed by KET (-3.02%) and CVX (-2.83%). These aren’t major trend-breakers, and with overall volatility relatively low compared to early July’s fireworks, these losses didn’t even register much on social media radars.
BTSE (-0.80%) and USELESS (-0.84%) continued drifting sideways, likely weighed down by lack of liquidity and catalyst fatigue. Interestingly, CVX was trending in a few DeFi-focused Discord servers after word leaked of slippage issues in a recently deployed Curve pool. That could explain the pullback.
Crypto Twitter has been trending almost as fast as CFX. Chatter this week focused heavily on two things: the so-called “low-cap revival” and the resurrection of NFTs as a narrative bridge between on-chain activity and speculative frenzy. Influencers with histories of accurate entry signals were pushing obscure tokens like OM and TRAC before their jumps, suggesting either sharp intuition—or sharper alpha groups feeding them leads.
There’s also a noticeable rise in meme coins with utility wrappers. Billed as “fun meets function,” coins like M are being reevaluated for their sticky user bases and clever tokenomics. This shift from pure degen plays to semi-useful memecoins could mark the next retail wave, especially if gas fees and transaction speed metrics keep improving across L2s.
Let’s zoom out. The pattern? Risk-on behavior, particularly in the low-cap arena. The macro backdrop appears slightly less hostile this week following a dovish comment from a Federal Reserve Governor suggesting that no further crypto-specific enforcements are coming this quarter. That tone appears to have bled into investor confidence, triggering a knee-jerk reaction into microcaps.
Coupled with BTC holding strong around the $63.8k level and ETH flirting with $3.5k, the majors continue to offer psychological support for traders to dive deeper into alt pool roulette. It’s a playbook we’ve seen before, and it often presages broader seasonal alt rallies.
The signs are subtle but stacking. Low-cap altcoins don’t skyrocket like this in isolation. They ride momentum, and this week’s pop in CFX and kin could signal a speculative reawakening in corners of the market many wrote off during Q1’s correction. Whether these rallies sustain depends on liquidity, BTC stability, and continued narrative fuel—three things to bookmark closely over the next month.
If you blinked, you missed it. CFX (Conflux) ran a blistering 104.4% in just 24 hours, topping our crypto leaderboard and igniting speculation around the return of Layer 1 hype cycles. Other altcoins like CKB (+43.66%), OM (+32.24%), TRAC (+26.72%), and M (+24.39%) also made healthy double-digit strides, with sentiment rising thanks to on-chain activity and fresh narratives sweeping Crypto Twitter.
Conflux’s pump is traced to developments out of Hong Kong. With increased talk of blockchain infrastructure collaborations across Asian markets, traders seem to be front-running headlines. Rumors of a government partnership and NFT pilot program are bouncing around Telegram circles, though nothing official has been confirmed. Markets, as usual, aren’t waiting for the paperwork.
Layer 1 protocols are crawling back into the spotlight. While major players like Solana and Avalanche consolidate off their Q2 highs, smaller L1s like Conflux (CFX) and Nervos Network (CKB) are catching speculative winds. Nervos’s 43.66% pop today tracked closely with a sudden on-chain spike in wallet activity. A potential ERC-20 bridge update could be in the works, but again—no confirmation. What we are seeing: a strong rotation into Asian-affiliated blockchains and Chinese-linked tokens, possibly as traders bet on regional catalysts post a regulatory crackdown in the West.
Meanwhile, Mantra (M), a little-known DAO infrastructure provider, jumped 24.39% following their tweeted teaser about an upcoming gamified staking system. The low float and cult following likely amplified the move.
In a sea of green, the red names were more like caution flags than sirens. VENOM dipped -3.3%, followed by KET (-3.02%) and CVX (-2.83%). These aren’t major trend-breakers, and with overall volatility relatively low compared to early July’s fireworks, these losses didn’t even register much on social media radars.
BTSE (-0.80%) and USELESS (-0.84%) continued drifting sideways, likely weighed down by lack of liquidity and catalyst fatigue. Interestingly, CVX was trending in a few DeFi-focused Discord servers after word leaked of slippage issues in a recently deployed Curve pool. That could explain the pullback.
Crypto Twitter has been trending almost as fast as CFX. Chatter this week focused heavily on two things: the so-called “low-cap revival” and the resurrection of NFTs as a narrative bridge between on-chain activity and speculative frenzy. Influencers with histories of accurate entry signals were pushing obscure tokens like OM and TRAC before their jumps, suggesting either sharp intuition—or sharper alpha groups feeding them leads.
There’s also a noticeable rise in meme coins with utility wrappers. Billed as “fun meets function,” coins like M are being reevaluated for their sticky user bases and clever tokenomics. This shift from pure degen plays to semi-useful memecoins could mark the next retail wave, especially if gas fees and transaction speed metrics keep improving across L2s.
Let’s zoom out. The pattern? Risk-on behavior, particularly in the low-cap arena. The macro backdrop appears slightly less hostile this week following a dovish comment from a Federal Reserve Governor suggesting that no further crypto-specific enforcements are coming this quarter. That tone appears to have bled into investor confidence, triggering a knee-jerk reaction into microcaps.
Coupled with BTC holding strong around the $63.8k level and ETH flirting with $3.5k, the majors continue to offer psychological support for traders to dive deeper into alt pool roulette. It’s a playbook we’ve seen before, and it often presages broader seasonal alt rallies.
The signs are subtle but stacking. Low-cap altcoins don’t skyrocket like this in isolation. They ride momentum, and this week’s pop in CFX and kin could signal a speculative reawakening in corners of the market many wrote off during Q1’s correction. Whether these rallies sustain depends on liquidity, BTC stability, and continued narrative fuel—three things to bookmark closely over the next month.
CFX’s 100%+ daily candle turned heads mid-day, with rumors of a Hong Kong blockchain collaboration adding fuel to already speculative trades. Twitter engagement on #CFX and #CKB spiked 500% over 48 hours.
Watch accumulation patterns in low-float altcoins with community traction. The moves often happen before exchanges spotlight them. CFX seemed to benefit from stealth accumulation last week.
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