Altcoins rally as ARB jumps over 51%, market cap reaches $1.10 trillion

  • Altcoins rally across Robinhood, BNB Chain and Solana markets.
  • ARB gains more than 51% in 24 hours to $0.1997.
  • Altcoin season index reaches 40 as total market cap climbs to $1.10 trillion.

Altcoins posted broad gains on Sept. 6, with trading activity intensifying on Robinhood, BNB Chain and Solana. L2 (Layer 2 scaling network) tokens led the move, with ARB rising more than 51% in 24 hours to $0.1997, followed by OP, STRK and IMX. DeFi (decentralized finance) and DEX (decentralized exchange) tokens also rallied, including RAY, ORCA, JUP, UNI, SUSHI, CAKE, CRV, SPK, LISTA and ENA, as capital began returning to projects with trading use cases and fee-generation models. The altcoin season index rose to 40, indicating that about 40 of the top 100 cryptocurrencies by market capitalization outperformed Bitcoin over the past 90 days, while total altcoin market capitalization climbed to $1.10 trillion. BNB Chain tokens also advanced after BNB broke above $780. RAY gained more than 42% to $1.177 after StonkFun said it had launched on Raydium LaunchLab, while SUSHI rose more than 24% to $0.2385 amid recent integrations involving SushiSwap, Robinhood Chain and SushiSwap Launch V2.

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