Alt season is showing differentiated trends: Cronos (CRO) rose over 20% in a single day, while Jito and Hyperliquid break through with functionality and liquidity.

Although the altcoin market has not seen a comprehensive rise, funds continue to flow into tokens with clear functions, high liquidity, and driven by favourable events. Cronos (CRO) surged over 20% in a single day due to Trump's media partnership with mainstream CEX for a $6.4 billion investment plan; Jito (JTO) has been steadily rising thanks to governance proposals and staking functions; Hyperliquid (HYPE) maintains its strength relying on the growth of its Perptual Futures platform. The structural market indicates that this round of alt season places more emphasis on fundamentals and practical use cases, rather than purely driven by market sentiment.

[Cronos (CRO): Enterprise collaboration and on-chain activities drive rise]

CRO is currently reported at $0.248, with a 24-hour rise of over 20%, and a market capitalization of $8.3 billion. The upward momentum mainly comes from the collaboration between Trump Media and mainstream CEX to establish a listed entity, planning to jointly launch a $6.4 billion CRO investment strategy, and Trump Media has committed to buying $105 million worth of CRO. The new company will be listed on NASDAQ under the code "MCGA". This collaboration upgrades CRO from an exchange Token to an asset endorsed by the Treasury, significantly enhancing market expectations.

On-chain data also shows an increase in activity on the Cronos network: since the July upgrade integrating the Cosmos SDK and expanding IBC interoperability, Gas usage has risen by 14%, and contract deployments have increased by 33%. The addition of new Perptual Futures in the derivatives market has further expanded capital inflow, providing both technical and fundamental support for CRO.

【Jito (JTO): Governance Upgrade and Stake Value Highlight】

JTO is temporarily reported at $1.96, with a daily rise of nearly 10%, a market cap of approximately $726 million, and a circulating supply of 370 million coins, with a daily trading volume exceeding $50 million. As a leading liquidity staking protocol in the Solana ecosystem, Jito recently transferred all protocol fees to the Jito DAO treasury through governance proposal JIP 24, further enhancing alignment of interests with token holders. Despite short-term volatility caused by exchange margin restriction policies, its non-custodial staking model and clear governance mechanism continue to attract long-term capital allocation.

[Hyperliquid (HYPE): Perptual Futures platform drives rise]

The HYPE trading price is close to $49.8, approaching this month's historical high, with a market capitalization of about $16.5 billion and a daily trading volume exceeding $400 million. The project focuses on on-chain order book model for perpetual futures trading and has repurchased approximately 29 million tokens since July, reducing the liquid supply and helping stabilize the price. The activity level in the derivatives market continues to rise, making it one of the strong-performing functional tokens in the current market.

[Conclusion: The alt season market is becoming more structured and fundamental]

In this round of the altcoin market, there has not been a widespread influx of funds into all tokens, but rather a noticeable flow towards assets such as CRO (enterprise collaboration and on-chain growth), JTO (governance and stake), and HYPE (derivatives ecosystem), which have clear use cases and high liquidity. This reflects a gradual maturation of the market, with funds becoming more rational; on the other hand, it also suggests that investors should focus on projects with technological upgrades, ecological cooperation, and improved governance mechanisms, rather than simply chasing market hotspots. Against the backdrop of Bitcoin's sideways consolidation and Ethereum's steady rise, altcoins may continue to show point-like breakthrough trends.