Is Altcoin Season Here? Institutional Support Fuels Strong Moves in XRP and AVAX

Jakarta, Pintu News – The crypto market opened the beginning of October with a solid performance, where the combined market capitalization of altcoins surged to reach $1.12 trillion. A number of major altcoins such as XRP (XRP), Solana (SOL), Avalanche (AVAX), and Hyperliquid (HYPE) recorded significant gains in the last 24 hours.

XRP Strengthens Thanks to Corporate Interest

The price of XRP rose about 4.5% on October 2 as demand from buyers increased. Publicly traded company VivoPower International PLC, listed on Nasdaq, announced it had raised $19 million through a share offering, with the funds directed towards enlarging XRP holdings in its balance sheet.

Read also: After CZ’s Endorsement, ASTER Flows Into Binance Wallets — Is a Listing Around the Corner?

The new shares were issued at $6.05 per share, higher than the previous closing price. This move follows an earlier offering under Regulation S, marking the progress of VivoPower’s digital treasury program.

The announcement coincided with a massive accumulation of XRP by institutional investors. Analyst Ali Martinez reported that “whales” have bought around 250 million XRP ($745 million equivalent) since the beginning of the week.

According to CoinMarketCap data, daily trading volume jumped 33%, while XRP is testing important levels around $3.0. Analysts think that if the price is able to close above this level, the potential for an increase towards $3.5 will open up.

AVAX Strengthens After $675 Million SPAC Deal

Avalanche Treasury Co. (AVAT) announced a $675 million business combination deal with Nasdaq-listed acquisition company Mountain Lake Acquisition Corp. (MLAC). The agreement includes $460 million of treasury funds, a portion of which has been allocated for the purchase of AVAX.

AVAT also revealed that it had purchased AVAX for $200 million at a discount, as well as obtaining priority rights for 18 months.

The market responded positively to this news, with the price of AVAX rising 3.5% on October 2, adding about $350 million to its market capitalization. Currently, the token is trading at around $30.72 with a market value of $12.97 billion.

Read also: 3 Developments Likely to Leave XRP Holders Furious This Week

Will the Altcoin Rally Continue?

The October rally, coupled with ETF deadlines for a number of altcoins, rekindled hopes that the crypto market may be gearing up for its next big surge.

Despite the increasing optimistic sentiment, some analysts caution against being too quick to conclude that the “altcoin season” phase has begun.

Crypto trader Daan Crypto Trades notes that altcoin market capitalization is currently retesting levels last seen in 2021. He noted that while a number of tokens could potentially outperform, the altcoin sector as a whole still needs a more convincing breakout.

The analyst explained that in previous cycles, when a collective breakout finally occurred, it usually attracted more new participants into the market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinspeaker. Altcoin Season Here? XRP, AVAX Get Major Institutional Push as Market Rallies. Accessed on October 3, 2025