- Altcoins led by Ethereum (ETH) showed resilience, helping to boost optimism across the market.
- Market excitement around Pudgy Pandas is driven by strong FOMO.
- In a single day, the PANDA presale raised more than $350,000.
On Tuesday, Bitcoin (BTC) traded around $115,000 as investors awaited the Federal Reserve’s decision on interest-rate cuts.
Altcoins, led by Ethereum (ETH), demonstrated notable resilience, which helped reinforce a positive market outlook.
Consistent inflows into BTC and ETH ETFs are helping sustain momentum and spreading bullish sentiment throughout the market.
Amid this optimism, traders have focused attention on Pudgy Pandas, a meme token that quickly sparked widespread community interest.
Market conversations about Pudgy Pandas are full of FOMO, with early supporters believing the token could capitalize on current enthusiasm around Bitcoin and altcoins to deliver significant returns.
Strong ETH performance hints at a possible altseason
According to Standard Chartered, digital-asset treasuries (DATs)—public companies that hold the majority of their cryptocurrency on their balance sheets—focused on Ethereum may have stronger prospects compared with those focused on Bitcoin or Solana.
In a note published Monday, Jeffrey Kendrick, head of digital-asset research at the bank, said investors are concerned by declining DAT share prices and market net asset value (mNAV), which directly affects these companies’ ability to raise capital and grow their crypto holdings.
The mNAV metric compares a company’s market capitalization with the value of its underlying assets; an mNAV above one signals growth and market confidence.
“This matters because a sustainable DAT needs an mNAV above 1 if it plans to continue buying the underlying assets,” Kendrick wrote.
He added that long-term outcomes for DATs will depend on factors such as access to low-cost capital and the size and income-generating ability of the underlying assets.
Over the past year, alongside institutional inflows into exchange-traded funds (ETFs), DATs have become a key influence on the price of Bitcoin and Ethereum.
Kendrick noted that DATs focused on Bitcoin could face lower mNAVs over time as market saturation and potential consolidation limit new demand.
By contrast, DATs centered on Ethereum and Solana may deliver stronger results thanks to their ability to generate income through staking.
“We believe DATs focused on ETH and SOL should have higher mNAVs than DATs focused on BTC, given staking yields,” he said.
The Standard Chartered outlook supports the idea that not only Bitcoin but also alternative cryptocurrencies could gain increased interest.
If staking yields and better capital-raising potential help ETH- and SOL-focused DATs perform better, that could encourage broader altcoin momentum—an effect commonly associated with the onset of altseason.
A presale to watch as altseason picks up steam
PANDA is not merely another meme token. It positions itself as a cultural movement built on scarcity, activism and a strong deflationary mechanism.
In the wild, only 1,864 pandas exist—such a small number that their rarity stands in contrast to more ubiquitous animals like penguins.
Perhaps penguins have already had their moment, while pandas remain rarer, more emotive and harder to find.
While many meme tokens rely on hype alone, Pudgy Pandas frames its narrative around utility and a mission-driven design.
Token burns, locked reserve tranches and a capped supply reinforce the scarcity narrative and aim to support long-term sustainability.
The presale numbers tell the story. The first stage (running September 15–18) started with a token price of $0.021000.
By the 11th stage (October 15–18) the price rises to $0.060545, creating an 11-step structure that increases the token price every three days.
If you wait too long, you will likely pay more for the same scarce asset.
That’s why early participants not only get to boast but also receive the largest discounts.
And the market is already responding: the presale raised more than $350,000 in a single day.