Altcoin Market Surges: Top 100 Assets See Significant Net Gains in August
August was a remarkable month for top 100 altcoins and tokens, with 83 out of 100 assets seeing significant net gains. This surge in liquidity was not affected by Bitcoin's recovery to around $80,000 on several occasions.
The top 100 coins and tokens performed better than BTC over the past three months, with most showing positive gains. In fact, 26 altcoins outperformed BTC significantly during this period.
According to Cryptorank data, the market breadth ranking reached a yearly high in August, indicating that liquidity was spreading to select coins and tokens. This led to older assets experiencing a resurgence in value, while new launches saw minimal attention from traders.
The most active altcoins were linked to apps, decentralized exchange (DEX) trading, perpetual futures, and fee generation. ZCash (ZEC) added more than 80% to its price in August, driven by the recovery of its privacy narrative. XMR followed a similar trend but with a weaker gain.