2 min read
The first week of October delivered a strong performance for the crypto market, with Bitcoin setting record highs and the layer-1 sector leading the charge among altcoins.
The category, which includes assets like Solana, Avalanche, BNB, Sui, and Aptos, posted a 12.54% gain from September 29th to October 5th, according to Velo data. The layer-2 sector was the closest competitor, rising 11.32% over the same period, while other niches, such as meme coins, DeFi, gaming, and AI, saw more modest returns of around 5% or less.
Bitcoin, Ethereum, BNB, and Solana have surged by double-digits over the past week, per data from CoinGecko. Aptos has been a standout, climbing 25.3% over the period to trade at $5.32.
This momentum is reflected in market sentiment.
On prediction market Myriad, launched by Decrypt’s parent company DASTAN, users place an 83% chance on the layer-1 token Aptos trading above $5 at the end of October 7.
“October has kicked off with a strong move, another confirmation of the uptrend,” Georgii Verbitskii, a derivatives trader and founder of decentralized protocol TYMIO, told Decrypt.
“With gold rising and rates easing, the setup looks very healthy,” Verbitskii added.
He believes this outlook bodes well for a sustained rally through the year's end, noting that “historically, October through December are the most active and bullish months for Bitcoin.”
With a median return of 52% in the fourth quarter, Bitcoin has indeed displayed exceptional gains over the past decade, according to CoinGlass data.
Verbitskii cautioned that the anticipated altcoin rally will be selective, aligning with expert views from a previous Decrypt report that an "alt season" may be delayed, but not cancelled.
“I don’t expect a broad altcoin rally like in previous cycles,” he said. “This time, growth will be likely driven by select, high-quality projects rather than the entire market moving at once.”
Among major layer-1 tokens, he singled out Solana for its standout potential. “Solana remains one of the most interesting assets among major altcoins,” Verbitskii noted, citing its strong fundamentals. “If the current market momentum holds, a move toward the $300 to $400 range by year-end looks realistic.”
Predictors on Myriad agree, placing a 60% chance on Solana hitting a new all-time high by the end of the year.
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