Altcoin Season Snapshot: MYX Rises, Bittensor Holds, and Solana Volume Climbs
The altcoin season is underway, with various tokens exhibiting unique trends. While some altcoins, like MYX, are gaining momentum, others, such as Bittensor, are experiencing steady growth. Meanwhile, Solana’s price remains relatively flat, but its volume is increasing. To better understand these trends, it’s essential to analyze the underlying market dynamics and identify key drivers.
MYX Finance (MYX): Bid Returns with Active Two-Way Flow
MYX is currently trading at around $3.35, up 15% in 24 hours. The data shows higher turnover in major pairs and continued interest in perpetuals, which typically supports the type of stair-stepping action seen this week. Analysts point to two immediate drivers: the ongoing debate over recent airdrop allocations, which has kept MYX on the radar, and the expansion of access through new listings and currency pairs. The structure of the move is crucial, with breaks below recent intraday highs followed by orderly pullbacks rather than disorderly gaps.
Funding remained near neutral for most sessions, indicating that spot demand is participating, not just leveraging. Traders will pay attention to whether open interest can rise in tandem with spot volume without causing funding to become unbalanced. If it stays that way, MYX can keep its place in the rotation.
Bittensor (TAO): Steady Growth with Useful Metrics for the AI Basket
Bittensor is currently trading at around $441, up 8% in the last 24 hours. Reports describe mixed action in AI and Compute tokens, consistent with TAO’s dovish day. Nevertheless, TAO continues to maintain the levels achieved last week, retaining the opportunity for another attempt if category flow improves. The desk analysis focuses on two markers: whether open interest can build while funding remains limited, suggesting cash buyers are returning rather than a one-sided hunt, and the supply calendar that traders have been observing in recent sessions.
Bittensor price (Source: CoinMarketCap)
The signal is patience, not urgency. For now, traders will track the hold above current support and the behavior of the AI basket as a whole.
Solana (SOL): Flat Price with Rising Turnover
Solana shows little price change, yet its 24-hour volume is up around 9%. This split often occurs when participants rebalance between majors and mid-caps without aiming for a breakout. The analysis points to several plausible sources, including traders hedging their risk as financing normalizes, programmatic strategies alternating between spot and perpetual strategies, and liquidity providers adjusting their holdings as memecoins and DeFi pools remain active on Solana.
This is still important for traders following the altcoin season. A flat band of increasing activity can precede movement once the flows skew in one direction. This also suggests that depth is healthy, which is a prerequisite for sustained rallies as risk appetite improves.
Altcoin Season Read
MYX impresses with a cleaner advancement based on active two-way flow and expanded access. Bittensor contributes a small win that keeps the AI set busy and offers a hint of positioning rather than euphoria. Solana’s higher volume without price expansion suggests stable participation and robust books. The short-term checklist is straightforward: monitor open interest, funding, and spot volume for MYX, track the hold above current support and the behavior of the AI basket for TAO, and watch spreads, depth, and whether the next burst of activity is net-long or net-short for SOL.
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