The crypto market has recently experienced a general pump, with over 90% of tokens rising.

Recently, the crypto market has experienced a wave of widespread pump. On June 22, Bitcoin once fell below 100,000, triggering panic in the market. However, the market quickly rebounded and started a new round of rise. This rise is not limited to mainstream tokens such as BTC, SOL, and ETH; many tokens that had long failed to recover have also performed excellently.

To gain a deeper understanding of market trends, we conducted a comprehensive analysis of 403 USDT spot trading pairs on a well-known exchange platform, spanning from June 22 to July 15, 2025. The analysis results show that 94.8% of the Tokens are in a rising trend, with an average increase of 30.38% and a median of 25.92%. This data indicates that the strength of this rebound is significantly stronger than in April.

Among the rising Tokens, 7 have increased by more than 100%, with a maximum rise of 335%. 34 Tokens have a rise between 50% and 100%, accounting for 8.4%. The majority of Tokens have a rise below 50%, accounting for 84.6%. It is noteworthy that 307 Tokens have risen more than Bitcoin’s rise of 15.31%, indicating that altcoins are performing better overall than Bitcoin.

From a market capitalization perspective, the top 20 tokens by rise are mainly concentrated in small-cap (<$100 million) and mid-cap ($100 million - $1 billion) ranges, with only 3 large-cap (>$1 billion) tokens. In terms of categories, MEME, AI, and DeFi related tokens performed prominently, while infrastructure tokens also showed impressive performance. In terms of ecological distribution, Ethereum, BSC, and Solana are the main winners.

Among the various sectors, MEME coins lead with an average rise of 42.2%, followed closely by infrastructure at 40.98%. Surprisingly, GameFi-related Tokens also performed well, with an average rise of 35.15%. DEX, AI, and smart contract platforms follow closely behind. In contrast, RWA Tokens performed mediocrely, rising only by 11.94%, while wallet-related Tokens fell by 3.09%.

In terms of the ecosystem, Solana leads with a pump of 39.41%, followed by the Base ecosystem at 33.86%, then Arbitrum (31.42%), Ethereum (31.14%), and BSC (28.41%). The Avalanche ecosystem performed relatively weakly, with only a rise of 10.86%.

The current pump is not highly correlated with the Token market capitalization. Large-cap (> $1 billion) Tokens have an average rise of 33.93%, small-cap (< $100 million) Tokens have a rise of 30.41%, and mid-cap ($100 million - $1 billion) Tokens have a rise of 29.45%. Small-cap and mid-cap Tokens remain the market main force, with a total of 348.

From the perspective of the token launch time, tokens launched in 2024 performed the best, with an average rise of 42.76%, followed by tokens launched in 2023, with a rise of 34.57%. Tokens launched in 2019, 2025, and 2018 also performed well. In contrast, tokens launched in 2017 and 2021-2022 showed slightly weaker performance, which may suggest that early projects are gradually losing market attention.

Despite the general rise in the market, the real “altcoin season” seems to have yet to arrive. Only 7 tokens have reached new highs above 2024 during this round of increases. Most tokens still need to rise significantly to return to 2024 price levels. 38 tokens are still more than 90% away from the 2024 high, 146 are more than 80% away, and 302 are more than 50% away.

Does this round of pump signal the arrival of the altcoin season, or is it merely a short-term rebound? Further observation is needed. In any case, the market has already shown signs of recovery, and investors should remain vigilant and closely monitor subsequent developments.