While the broader cryptocurrency market cooled down on Monday, September 28, with both Ethereum and Bitcoin seeing 2% declines, three specific altcoins managed to rally dramatically.
Among the top 100 cryptocurrencies, Quant (QNT), Bitway (BTW), and XDC Network (XDC) emerged as CoinGecko’s leading 24-hour gainers, driven by entirely different catalysts.
Quant Extends Its Bank-Backed Run
Quant led Monday’s market gainers, surging 32.85% to reach $238.2 at the time of publication and extending its weekly performance to a 260% increase.
As reported by BeInCrypto, this impressive rally initially kicked off on September 24 when Quant was selected by The Clearing House—an organization owned by 25 major US financial institutions—to power its US tokenized deposit network. The network is officially scheduled to launch in the first half of 2027.
Furthermore, UK financial institutions including NatWest, HSBC UK, and Barclays successfully executed live tokenized sterling transactions on Quant’s platform on that same day. Despite this substantial upward momentum, QNT is still trading approximately 47% below its all-time high of $427.42 achieved in September 2021.
Bitway Sets a Record High
Bitway, which operates as a Bitcoin-focused layer-1 network, advanced 28.3% to $1.38, hitting a new all-time high of $1.43 earlier on Monday. This pushed its total weekly gains to 75% and brought its market capitalization to $3.7 billion.
There were no protocol announcements or new token listings released on Monday to directly account for the surge. However, the most recent active driver is the Bitway Booster Season 5 campaign hosted on Binance Wallet, scheduled to run until October 2.
This price action could also reflect a wider altcoin rotation trend. On Monday, Blockchain Center’s Altcoin Season Index registered at 59, indicating neutral market conditions while sitting well above the sub-25 levels recorded back in July. The index officially transitioned out of Bitcoin Season on September 2.
Earlier in the month, BeInCrypto highlighted BTW as the top-performing gainer of its third week, though it did point out concerns regarding weak breakout volume.
XDC Network Rides Sibos and Validator News
XDC posted an 11.66% gain over a 24-hour period, bringing its trading price to $0.034 at press time and lifting its weekly performance by 20%.
Monday marked the kick-off of Sibos in Miami—the prominent banking conference organized by SWIFT—which runs through October 1. Representatives from XDC Network alongside Contour, a trade-finance network built on XDC, are participating in the conference, according to an announcement shared by the network on X.
Recent updates regarding network validators have also contributed to the upward momentum. South Korea-based custody provider DSRV onboarded as an XDC masternode validator on September 18, following SettleMint, a Belgian tokenization firm, which took on the same role in June. Additionally, XDC launched XDC AI in July, establishing a dedicated marketplace where AI-driven agents can settle payments for services using USDC.
Moving forward, each of these rallies faces unique upcoming tests. Bitway’s promotional booster campaign concludes on October 2, and the XDC Sibos conference window wraps up on October 1.
Among the three assets, Quant benefits from the most robust foundational backing. Even so, because The Clearing House network is not slated to go live until 2027, the current token price is trading well ahead of actual live volume. Ultimately, all three tokens will rely on the broader market halting its downward trend.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
Frequently Asked Questions
Which altcoins were the top gainers on Monday, September 28?
Quant (QNT), Bitway (BTW), and XDC Network (XDC) were CoinGecko’s top 24-hour crypto gainers among the top 100 coins on Monday, September 28.
Why did Quant (QNT) rally?
Quant’s rally was driven by news that The Clearing House—owned by 25 of the largest US banks—selected Quant to run its US tokenized deposit network, alongside live tokenized sterling payments completed by major UK banks like Barclays, HSBC UK, and NatWest.
What caused Bitway (BTW) to hit a record high?
While no specific protocol announcement or listing dropped on Monday, Bitway’s surge was closely tied to the ongoing Binance Wallet campaign known as Bitway Booster Season 5, alongside a broader altcoin market rotation.
What events influenced the XDC Network price movement?
XDC’s price movement was supported by the opening of the SWIFT-run Sibos banking conference in Miami, recent validator additions including DSRV and SettleMint, and the launch of the XDC AI marketplace.
