Altseason Sees Revenue-Driven Rally, Memecoin Gains

The crypto market is showing signs of an altseason, but this time it's different. Over the past 30 days, tokens like PONS, Uniswap's UNI, Arbitrum's ARB, and AI-focused NEAR have gained over 110%, 150%, 180%, and 180% respectively.

While memecoins are still present, they account for a smaller share of the market compared to previous altseasons. Bankless podcast host David Hoffman notes that the common thread among top gainers is their ability to generate revenue, suggesting this rally might be driven by utility rather than speculation.

Co-founder of 1inch Sergej Kunz agrees, stating that DeFi protocols, privacy tokens, AI projects, and tokenized assets are attracting attention. However, he notes that the market remains cautious and selective, with users participating in smaller amounts but across a broader range of tokens.