On Monday, September 28, the cryptocurrency market displayed cooling tendencies as Bitcoin and Ethereum both slipped by 2%. Despite this downward pull, three alternative coins surged against the trend in dramatic fashion.
Among the top 100 cryptocurrencies by market capitalization, Quant (QNT), Bitway (BTW), and XDC Network (XDC) led CoinGecko’s 24-hour gainers list. Each asset rallied due to distinct catalysts.
Quant Extends Its Bank-Backed Run
Quant emerged as the day’s leading performer, advancing 32.85% to reach $238.2 at the time of writing and pushing its weekly gains to 260%.
As previously reported by BeInCrypto, this upward trajectory kicked off on September 24 when The Clearing House selected Quant to power its US tokenized deposit network. Owned by 25 of the largest banks in the United States, the network is scheduled to launch in the first half of 2027.
Additionally, UK financial institutions such as Barclays, HSBC UK, and NatWest successfully executed live tokenized sterling transactions on Quant’s infrastructure on that same date. Even with this substantial rally, QNT continues to trade roughly 47% below its all-time high of $427.42, which was set in September 2021.
Bitway Sets a Record High
Bitway, a layer-1 blockchain centered around Bitcoin, advanced 28.3% to $1.38, hitting a new all-time high of $1.43 during early Monday trading. This movement brings its weekly accumulation to 75% and elevates its total market capitalization to $3.7 billion.
There were no fresh protocol updates or exchange listings announced on Monday to directly account for the surge. The closest active catalyst is the ongoing Bitway Booster Season 5 campaign hosted via Binance Wallet, which is scheduled to run through October 2.
The price action may also reflect broader sector rotation. Blockchain Center’s Altcoin Season Index stood at 59 on Monday, remaining in neutral territory yet sitting significantly higher than the sub-25 readings recorded in July. The index officially transitioned out of Bitcoin Season on September 2.
Earlier in the month, BeInCrypto highlighted BTW as the third-week top gainer while simultaneously pointing out its relatively weak breakout volume.
XDC Network Rides Sibos and Validator News
XDC posted a 24-hour gain of 11.66%, changing hands at $0.034 at press time, while its weekly performance reflects a 20% increase.
Monday marked the commencement of the SWIFT-operated banking conference Sibos in Miami, which runs through October 1. According to an announcement on X, representatives from both XDC Network and Contour—a trade-finance platform built on XDC—are participating in the conference.
The upward momentum is further supported by recent integrations of network validators. South Korean digital asset custody provider DSRV onboarded as an XDC masternode validator on September 18, following Belgian tokenization company SettleMint, which assumed the same function in June. Furthermore, July saw the rollout of XDC AI, a decentralized marketplace where artificial intelligence agents settle payments for services using USDC.
Each of these rallies faces impending near-term hurdles. Bitway’s promotional campaign concludes on October 2, and the Sibos conference window for XDC wraps up on October 1.
Among the trio, Quant enjoys the most robust institutional backing. Nevertheless, because The Clearing House network is not slated to go live until 2027, the current token price is surging well ahead of actual operational volume. Moreover, all three tokens remain dependent on the broader digital asset market halting its current downward slide.
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