The October surge nicknamed “Uptober” pulled liquidity toward altcoins and delivered sharp, double-digit moves for Zcash, Mantle, and the memecoin SPX6900. Zcash doubled in a week after a 76% one-day jump, Mantle saw high volumes after new product releases, and SPX6900 reached a market value above $1.15 billion.
The rally labeled “Uptober” shows capital rotating from Bitcoin to alternative assets, a pattern that typically cuts Bitcoin dominance and lifts the Altcoin Season Index. This shift redirected attention and liquidity across major narratives, stirring activity among traders, liquidity providers, and risk managers.
Zcash rose to a market cap above $2 billion and its price hit $176, a level last seen in April 2022. The move renewed focus on privacy and zk-SNARKs; zk-SNARKs is a zero knowledge proof that verifies transactions without exposing sender, receiver, or amounts. The one-week doubling after a 76% daily jump exemplified the intensity of the rotation.
Context and impact of Uptober Altcoin Season
Mantle a modular Layer 2 for Ethereum that pulled in liquidity after ecosystem upgrades and the launch of a stablecoin on its network. The MNT token traded near $2.47 with 24-hour volume above $566 million, signaling higher turnover and rising interest in its role in scaling and on-chain products.
SPX6900 illustrates the memecoin pattern — it trades around $1.54, prints 24-hour volume near $68 million, and holds a market cap above $1.15 billion. Rallies of 25% alongside daily swings of 8.65% and cites technical estimates that target further upside between 23% and 96%.
Demand for Mantle signals appetite for scaling tools and chain-native stablecoins, highlighting how infrastructure releases can channel liquidity toward on-chain activity.
The reported volumes for MNT and SPX6900 indicate faster turnover that eases entries but also enables sharp reversals when sentiment shifts.
Rapid spikes such as Zcash’s 76% daily gain increase the odds of sudden pullbacks, and leverage magnifies both losses and gains across the board.
SPX6900 shows that story and virality can still steer price action, even in the absence of underlying utility.
The next phase will hinge on metrics such as Bitcoin dominance and the Altcoin Season Index. Whether Mantle locks in on-chain use or the memecoin story keeps its grip will determine if the current climb becomes a lasting altcoin season or remains a brief rally.
