[비즈한국] This week, as the upward momentum of large-cap cryptocurrencies slowed, buying pressure shifted toward altcoins with individual catalysts, such as network upgrades, service expansions, and token buyback structures. While assets providing foundational technologies like Layer 2, data availability, and oracles dominated the top rankings, the performance over the last 24 hours was mixed, indicating a pattern of selective rotation rather than a broad market rally.
According to CoinMarketCap, a global virtual asset market tracking site, Starknet recorded the highest weekly gain of 31.99% in the cryptocurrency market from 6:00 on October 2 to 6:00 on October 9. Its current price is 74 KRW, continuing a short-term upward trend with a 13.05% gain over the past 24 hours.
Raydium ranked second with a weekly gain of 22.76%. Its current price is 3,085 KRW, showing a short-term profit-taking trend with an 8.43% decline over the last 24 hours. Celestia took third place with an 18.56% increase over the week. Its current price is 687 KRW, extending its gains by 14.31% over the last 24 hours.
Pyth Network ranked fourth with a weekly gain of 12.07%. Its current price is 112 KRW, showing a strong short-term trend with a 14.91% increase over the last 24 hours. Night Token took fifth place with an 11.42% increase over the week. Its current price is 58 KRW, giving back some of its weekly gains with a 6.42% drop over the last 24 hours.
6th place LayerZero rose 7.49% for the week and is trading at 2,669 KRW. 7th place Filecoin is trading at 1,436 KRW, up 5.22% over the week. 8th place KuCoin Token is at 10,201 KRW, up 4.26% weekly. 9th place Jupiter rose 4.08% over the week and is trading at 460 KRW, and 10th place JUST is trading at 185 KRW, up 3.70% for the week.
Focus on Block-Level Proofs, Tokenized Stock Trading, and Ultra-High-Speed Data Processing
Starknet is a Layer 2 network that uses zero-knowledge proofs to process transactions off the Ethereum mainnet and record the results on Ethereum. STRK is used for transaction fees, staking, and participation in network operations. Starknet upgraded its mainnet to v0.14.4 on October 6. This version expands client-side proofing, previously limited to small scales, to single transactions of block size, allowing complex computations to be processed as proofs rather than execution results. However, as this is a developer-focused, incremental improvement, it is difficult to attribute the entire weekly gain solely to the upgrade. It can be interpreted as a combination of rotation into low-cap altcoins and concentrated buying pressure over the last 24 hours increasing price elasticity.
Raydium is a decentralized exchange on Solana that supports token swaps, liquidity provision, and the issuance of new tokens. A portion of trading fees is used for RAY market buybacks, creating a structure where trading activity is linked to token demand. According to third-quarter analysis released on October 5, Raydium’s trading fees more than tripled compared to the previous quarter, and the RAY buyback allocation was calculated at 6.2 million USD. The expansion of the "LaunchLab" feature, which allows new tokens to be issued using tokenized stocks as base assets, significantly contributed to the surge in September trading. However, average daily fees and issuance counts in early October have slowed compared to September. While the weekly trend remained strong, the decline in the final 24 hours reflects caution regarding profit-taking after the rapid rise and sustainability of activity.
Celestia provides a data availability layer that allows users to verify that transaction data has been properly published without the blockchain having to execute the transactions directly. Developers can build purpose-built chains on this foundation, and TIA is used for fees and staking. Celestia announced on October 1 that its end-to-end testing of the high-speed data transfer technology "Fibre" recorded a throughput of 3.07 terabits per second through 120 validators. This result was achieved by lowering the processing burden by leaving only data commitments and validator signatures on the chain instead of the original data. However, some test conditions are not directly applicable to the initial mainnet, so it is too early to define this as commercial performance. Considering that the last 24-hour gain accounts for a significant portion of the weekly rise, it is closer to a concentrated rotation into infrastructure assets following the announcement.
Rising Range Expands from Individual Supply-Demand Catalysts to Interoperability, Storage, and DeFi
Pyth Network is an oracle that supplies price information created by exchanges and financial firms directly to blockchain applications. Its annualized recurring revenue in September grew to 11.5 million USD, and the Pyth DAO decided to allocate all funds received from products to a reserve for purchasing PYTH on the open market. The first buyback under the new policy was executed on September 30. Previously, one-third of non-PYTH assets were purchased monthly via separate voting, but going forward, the entire product revenue will be used for buybacks under standing approval. For the recent 24-hour surge, this structure linking actual business revenue to token demand served as a direct catalyst.
Night Token is an asset for the Midnight Network, designed to selectively disclose only necessary information rather than hiding all personal data. Holding NIGHT generates DUST, a non-transferable resource used for transaction and smart contract execution fees. On September 28, Midnight opened its network to allow developers to deploy smart contracts to the mainnet without separate pre-security audits. While this change broadened the scope for actual application launches, Night Token fell 6.42% over the last 24 hours. Short-term momentum slowed as sell-offs occurred following the weekly rise.
From 6th to 10th place, sectors from different fields entered the top ranks simultaneously. LayerZero is an interoperability infrastructure supporting messaging and asset movement between various blockchains, and Filecoin is a decentralized storage network connecting idle storage space. KuCoin Token is used for exchange fee discounts and ecosystem rewards, and Jupiter is a trade aggregation service that finds order routes by comparing prices across multiple Solana exchanges. JUST provides decentralized financial services such as loans and stablecoins based on Tron. Rather than capital concentrating on a specific technical field, the targets for buying have expanded to trading, storage, multichain, and DeFi; however, as the gains are lower than the top five, it is difficult to conclude that risk appetite has spread strongly across the entire market.
The top performers this week were led by projects with clear supply-demand shifts, such as Pyth Network, which channeled business revenue into token buybacks, and infrastructure projects that announced technical tests and mainnet openings. Raydium was supported by actual increases in trading and its buyback structure, though activity was concentrated on a specific issuance platform. Starknet and Celestia saw increased volatility as low-cap altcoin rotation was added to technical announcements.
Conversely, the fact that Bitcoin and Ethereum showed weakness near the end of the counting period, along with continued capital outflows from US spot ETFs, makes it difficult to interpret the surge in top-ranking assets as a market-wide trend reversal. Even in the last 24 hours, while Starknet, Celestia, and Pyth rose, Raydium and Night retreated. This ranking is more a result of short-term rotation between infrastructure projects with verifiable catalysts and high-elasticity altcoins, rather than a broad bull market.
※ This article was written by Bizhankook and MetaVX's generative AI together.