Uphold Market Commentary — October 2, 2025 Q4, or what Crypto Twitter affectionately calls “Uptober,” is kicking off with strong momentum. Bitcoin is nearing $120,000 for the first time since mid-August, and many altcoins are rallying in its wake. Zcash $ZEC has been the standout story of the week, surging 154% and reigniting the conversation around the market’s appetite for on-chain privacy. Monero $XMR has been slower to react, but it is still among today’s strongest movers, climbing 7.92% in the last 24 hours and holding the position as the sixth highest gainer in the top 100. Pumpfun’s trajectory has been more volatile. After experiencing a nearly 40% drawdown between September 17 and September 27, when its price dropped from $0.0087 to $0.0050, it has shown resilience. In the past 24 hours, Pumpfun purchased $1.596 million worth of its native $PUMP token, a sum equal to 100% of the previous day’s revenue. This brings its cumulative purchases to $122.131 million to date, underlining its ongoing strength despite recent turbulence. $PUMP is trading near $.0069 on Uphold Ascent. Avalanche has also been making headlines. Monthly DEX volume on the network closed September at $17.4 billion, the highest level in nearly three years. Attention is now turning to the second planned DAT for $AVAX, with Avalanche Treasury Co preparing to start with around $670 million and targeting a total acquisition of $1 billion in $AVAX. The token is currently trading just below $30 on Uphold Ascent. In the DEX arena, Fluid has set a new record by becoming the fastest decentralized exchange on Ethereum to surpass $100 billion in trading volume, reaching the milestone in just 326 days. By comparison, it took Curve 651 days and Uniswap 835 days to achieve the same milestone. Fluid, which only launched in 2024, continues to establish itself as a dominant force in the sector. Meanwhile, the Bittensor community is engaged in a heated debate around the “Alpha Halving Synchronization” proposal. Several competing approaches are under consideration, and with months remaining for community input, the outcome is far from decided. $TAO remains one of the top traded assets on Uphold, and our research team is actively involved in following the ecosystem closely. Feel free to reach out to our team if you’d like to schedule a call with our research team. Uphold Trading Flows Over the past 24 hours at Uphold, we have seen better buying of POL (18.2x), ZIG (13.24x), and TAO (10.23x). We have seen better selling of AR (8.7x), COQ (4.98x), and TURBO (4.34x). The three most active assets across our platform in the last 24 hours have generally been SOL, USBC, and XLM. New listing - ZIGChain $ZIG