Altcoins and tokens stall in October, underperforming 'Uptober' narrative

Altcoins and tokens stalled in October, despite the expectations for another month of traditional growth. The expected “Uptober” did not materialize, while liquidity returned to more conservative assets. The crypto market breadth metric, measuring the performance of altcoins and tokens, contracted in October . Based on Cryptorank data, only 8% of the top 100 broader market assets posted net gains in October. The previous month, 81% of the top 100 assets posted net gains, causing general optimism for a more lasting market recovery. As Cryptopolitan reported , traders flocked to newly issued altcoins and tokens, instead of allocating liquidity to coins from previous bull markets. During that time, the active trading of selected assets did not even cause the altcoin season index metric to budge.

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