Analyst: Small- and mid-cap crypto assets have recently seen market cap growth significantly outpacing BTC and large-cap assets.

Crypto analyst Darkfost noted that since late August, small- and mid-cap crypto assets have seen the most significant market cap growth, with the gap between their monthly average market cap and yearly average market cap continuing to widen, and the relevant ratio now reaching 41%. By contrast, the ratio for BTC is about 7%, while for large-cap crypto assets it is only 3.5%. Darkfost said this structure is relatively rare, because in most cases the market is usually led by BTC first, as in the rally after the bear market ended in 2023; however, small- and mid-cap assets are more sensitive to market changes, and trends may also reverse quickly.