Three Altcoins Jump on Final Monday of September

On Monday, September 28, the broader crypto market showed signs of cooling. Bitcoin and Ethereum each fell by 2%, but three altcoins moved sharply upward in the opposite direction.

Among the top 100 cryptocurrencies by market cap, Quant (QNT), Bitway (BTW), and XDC Network (XDC) recorded the largest 24-hour gains on CoinGecko. Each token rallied for distinct reasons.

Quant Extends Its Bank-Backed Run

Quant was the biggest gainer on Monday, rising 32.85% to $238.2 at the time of writing. The token's weekly gain reached 260%.

The rally began on September 24, when The Clearing House—owned by 25 of the largest US banks—selected Quant to run its US tokenized deposit network. The network is expected to launch in the first half of 2027. BeInCrypto covered that the tokenized deposit network will go live then.

On the same day, UK banks including Barclays, HSBC UK, and NatWest completed live tokenized sterling payments on Quant's platform. Even after the recent surge, QNT is still trading about 47% below its September 2021 all-time high of $427.42.

Bitway Sets a Record High

Bitway, a layer-1 blockchain focused on Bitcoin, climbed 28.3% to $1.38 and reached an all-time high of $1.43 early on Monday. This boosted its weekly gain to 75% and its market cap to $3.7 billion.

No exchange listing or protocol announcement emerged on Monday to explain the jump. The closest catalyst is Bitway Booster Season 5, a Binance Wallet campaign running until October 2.

The rally could also be part of a broader altcoin rotation. Blockchain Center's Altcoin Season Index read 59 on Monday, which is in neutral territory but well above the sub-25 levels seen in July. The index last moved out of Bitcoin Season on September 2.

Earlier this month, BeInCrypto named BTW the third week's top gainer but noted weak breakout volume.

XDC Network Rides Sibos and Validator News

XDC gained 11.66% over the past 24 hours, trading at $0.034 at press time. The altcoin has risen 20% over the past week.

Monday marked the start of Sibos in Miami, a banking conference run by SWIFT that continues through October 1. The XDC Network said on social media that teams from XDC Network and Contour, a trade-finance network built on XDC, will be in attendance.

Recent validator additions are also fueling the move. South Korean custodian DSRV joined XDC as a masternode validator on September 18. Belgian tokenization firm SettleMint took the same role in June. In July, XDC launched XDC AI, a marketplace where AI agents pay for services in USDC.

Each rally now faces a near-term test. Bitway's Booster campaign ends on October 2, while XDC's Sibos window closes on October 1.

Quant has the strongest support among the three. However, The Clearing House network will not go live until 2027, so the price is moving well ahead of actual volume. All three tokens also require the broader market to stop declining.