After June 2026, the market cap of altcoins has risen by about $371 billion (≈ 503 trillion won). Most of the altcoins listed on Binance – roughly 87% – have reportedly recovered above the 200‑day moving average that fell in August. This is seen as a signal re‑illuminating the mid‑term price flow of the market.
CryptoQuant’s Darkfost analysis says that the total market cap of altcoins, including Ethereum, rose by about 45% during the same period. TOTAL2 (which excludes Bitcoin and tracks the overall market) reflects this rise as a result of altcoin market expansion and new inflows interacting with each other. In particular, the recovery rate above the 200‑day moving average climbed from 70% to roughly 87%, indicating that the recovery range has broadened in the short term.
However, judging whether the price will keep rising based solely on this figure is difficult. Market cap is a value that reflects both price and volume changes; concluding that the entire increase comes from new capital inflows is a delicate analysis. As funds move from Bitcoin to altcoins, it is hard to distinguish how much of the rise in market cap is due to price increases alone.
According to Darkfost’s data released on September 19, 70% of Binance‑listed altcoins have recovered above the 200‑day moving average. At the same time, the total market cap excluding Bitcoin and Ethereum has surpassed $800 billion. This confirms that the market size has grown, but the direction of capital flow remains heavily weighted toward Bitcoin and Ethereum.
In sum, the altcoin season is not decided by market cap alone; performance versus Bitcoin, spread of internal price increases, and capital flows must all be considered. The analysis shows that after June the recovery range expanded and the 200‑day moving average recovery rate increased. Yet concluding that the increase in market cap comes from new inflows or interpreting it as a long‑term upward signal is difficult.