Author: Frank, PANews
Recently, the crypto market has welcomed a rare overall price increase. Since June 22, Bitcoin has deeply corrected below $100,000, which once caused panic in the market. However, subsequently, the market welcomed a new round of significant increases after the correction. From a visual perspective, this round of overall increase is no longer limited to a few mainstream tokens such as BTC, SOL, and ETH; many tokens that had not recovered for a long time have also performed well in this round of increase.
From a data perspective, has the entire market truly welcomed a season of altcoins, or is it yet another illusion? PANews conducted an overall analysis of the 403 spot trading pairs on Binance, hoping to find the real pulse of the market.
Data Description: This study is based on the USDT spot trading pairs on Binance, combined with basic information such as token classification and market capitalization provided by CoinGecko, and includes a total of 403 valid tokens for analysis. The time range is from June 22, 2025, to July 15, 2025. The price increase and decrease are calculated based on the starting price (opening price on June 22) and the ending price (closing price on July 15) during this period.
Nearly 95% of tokens have experienced an increase, with an average increase of 30%.
Overall, the broad increase is indeed justified. Among the 403 tokens analyzed, 382 tokens were in an upward state during this period, accounting for about 94.8%. The average increase among all tokens was 30.38%, and the median increase was 25.92%. Compared to the rebound in April, it is evident that the recent rebound momentum is stronger.
Among the tokens that increased, 7 tokens had price increases exceeding 100%, with the highest increase reaching 335%. There are 34 tokens with increases between 50% and 100%, accounting for about 8.4%. More tokens had increases below 50%, accounting for about 84.6%. From this perspective, this round of price increase is indeed a rare overall increase, seemingly evoking a sense of an 'altcoin season.' It is worth mentioning that during this period, BTC's increase was 15.31%, and 307 tokens had increases exceeding this value. This means that the vast majority of tokens finally outperformed BTC in the recent rebound.
Of course, there are also 20 tokens that performed poorly, showing an independent downward trend amidst the overall price increase.
Among the top 20 tokens with the highest price increases, there are several notable characteristics.
Market capitalization range: Mainly concentrated in the small-cap (under $100 million) or mid-cap ($100 million-$1 billion) categories, with only 3 tokens exceeding $1 billion in market capitalization.
In terms of categories: the top-ranked categories are more related to MEME, AI, and DeFi, and additionally, four infrastructure tokens have also broken into the top 20.
Ecological classification: The ecosystems with the largest increases are mainly concentrated in Ethereum, BSC, and Solana.
MEME leads, GameFi unexpectedly rises.
From the overall performance of the tracks, MEME is indeed the best-performing track. The average increase reached 42.2%, followed by the infrastructure category, with an average increase of 40.98%. Surprisingly, GameFi-related tokens also performed well in this round of price increases, with an average increase of 35.15%. Next are DEX, AI, and smart contract platforms. The much-discussed RWA category tokens had a relatively flat increase of only 11.94%, while the average increase for the four selected wallet-related tokens was -3.09%.
Solana, Base, Arbitrum, Ethereum, and other ecosystems have performed best.
In terms of ecology, the Solana ecosystem leads all public chains with a price increase of 39.41%. The tokens in the Base ecosystem also rank second with a price increase of 33.86%. Next are Arbitrum (31.42%), Ethereum (31.14%), and BSC (28.41%). Tokens related to the Avalanche ecosystem continue to perform ordinarily, with an average increase of only 10.86%.
In the context of an overall price increase, the correlation with market capitalization is relatively low.
In terms of market capitalization categories, the distinction between large and small market caps is not significant. Tokens with a market cap exceeding $1 billion had an average increase of 33.93%, while small-cap tokens (under $100 million) had an average increase of 30.41%, and tokens between $100 million and $1 billion had an average increase of 29.45%. However, in terms of sample size, small-cap and mid-cap tokens still dominate, with a total of 348 tokens in this range, and based on current analysis results, this increase has indeed been broad, with little correlation to market cap size.
Tokens from 2024 perform best; tokens from 2017 are forgotten?
From the perspective of the tokens' launch time, in this round of price increase, tokens launched in 2024 performed the best, with an average increase of 42.76%. Next is 2023, with an average increase of 34.57%. Additionally, tokens from 2019, 2025, and 2018 also had relatively high increases. In contrast, tokens launched in 2017 and 2021-2022 had slightly lower increases in this round. Combined with the analysis of the increase in April, tokens launched in 2017 also performed at the bottom, which may indicate some issues; those early projects are gradually losing market attention.
The altcoin season is still distant, with only 7 tokens exceeding the 2024 peak.
Has the altcoin season really arrived? First of all, the overall performance of altcoins in 2024 is not a typical explosive market; there has only been a certain increase driven by the rise of mainstream tokens like Bitcoin. Observing the market from June 22 to July 15, PANews found that only 7 tokens reached price peaks higher than the highest price in 2024 during this period. The remaining 341 tokens (tokens launched in 2025 do not have this data) all failed to exceed their previous highs. Another heartbreaking reality is that there are still 38 tokens whose peak in this rise is 90% lower than the highest point in 2024, meaning these tokens need to increase tenfold to return to the previous highs. There are 146 tokens that differ from the 2024 high by more than 80%, and 302 tokens that differ from the 2024 high by more than 50%. This means that the vast majority of tokens need to increase at least once more to return to the 2024 price level and create new highs.
From this perspective, it seems that the potential for an altcoin season is substantial; it is just unclear whether this round of price increase is a fleeting moment or the sound of the initial horn being blown.
