September marked a significant month for the cryptocurrency market, characterized by a flurry of new listings across prominent exchanges. Major platforms like Coinbase in the United States and various exchanges in South Korea made almost daily announcements of new tokens, sparking excitement among traders. Some altcoins, in particular, showed strong accumulation signals post-listing, revealed through noteworthy shifts in exchange reserves and increased holdings by top wallets.
One standout among the newly listed tokens is Avantis (AVNT), a utility and governance token associated with the perps decentralized exchange (DEX). In September, AVNT was listed on major exchanges including Binance, Upbit, and Bithumb, leading to substantial liquidity with daily trading volumes surpassing $1 billion. Data from Nansen indicates that AVNT’s exchange reserves declined by more than 5.4% during the last week of September, dropping from over 106 million to nearly 104 million. Concurrently, the reserves held by the top 100 wallets increased by 2.87%, suggesting that many traders viewed the token’s price dip as a buying opportunity amidst heightened interest in perps DEX tokens.
In discussing the dynamics of newly launched tokens, one trader noted the wealth effect among friends who profited significantly from AVNT and other tokens. The interest appears to stem from strong market performance and the emerging on-chain derivatives market, which is still in its nascent stages.
Another notable token making waves during this period is Popcat (POPCAT), a meme token on the Solana blockchain. Initially listed on Binance Alpha in April, it gained additional attention when Bithumb announced its listing in September. Despite the optimistic listing news, POPCAT faced challenges, reaching a new low since April at $0.21—a decrease of over 30%. Despite this downturn, data showed that its exchange reserves decreased by 4.9%, while top whale wallets raised their holdings by 5.8%, indicating accumulation as investors opted to buy into the dip. One investor remarked on the affordability of POPCAT, stating it represented a prime opportunity zone following its recent listings.
Significantly, Binance wallets transferred 16 million POPCAT tokens to a new address that later engaged with major exchanges like Bithumb and Bybit, heightening speculation around increased trading activity and possibly larger transactions in the future.
Coinbase also joined the fray by announcing the listing of the meme token TROLL. This strategic move provided TROLL access to U.S. investors and further enhanced its liquidity. Post-listing, Coinbase generated over 24% of TROLL’s daily trading volume, contributing to positive investor sentiment. Nansen data indicated an 18.8% decline in TROLL’s exchange reserves while top whale wallets correlated with a 3.4% increase in their holdings, signaling active accumulation in anticipation of further developments.
Community engagement for TROLL has also surged, with approximately 304,000 posts related to the token compiled over the past 30 days on X, underscoring the increasing public interest and engagement surrounding it.
Overall, these altcoin developments reveal a discernible trend emerging in late September: investors are increasingly drawn to newly listed tokens and are strategically positioning themselves in narratives like perps DEX as they seek to capitalize on market opportunities.
