Altcoin Season Index at 67: Rotation Puts PancakeSwap, MYX Finance, and EigenLayer in the Spotlight

Altcoin season continues to reward tokens with strong catalysts and enough depth for larger orders. Liquidity is rotating toward projects that convert user activity into steady flows rather than relying on one-off moves.

Today, that filter points to PancakeSwap, MYX Finance, and EigenLayer. Each name is advancing for a different reason. DeFi tokenomics, derivatives speculation, and a new AI function in restaking are driving interest at the same time.

PancakeSwap (CAKE): Supply Burns And Cross-Chain Access

CAKE is currently trading near $3.8, up by 14% in 24 hours. The move builds on Tokenomics 3.0, which continues to shrink supply through monthly burns. August recorded about 2.7M CAKE removed, extending a two-year streak under the current model. That schedule links trading activity to fee burns and supports price during active sessions.

Distribution has widened as PancakeSwap added Cross-chain Swaps for Solana in late September. Users can swap across seven networks from one interface, which funnels more orders through CAKE markets.

Product posts also detail a broader toolkit covering routing, perpetuals, and liquidity features that keep volume engaged. These additions help explain why CAKE remains a frequent target during altcoin season.

MYX Finance (MYX): Trading Swings and Airdrop Dispute

MYX is priced around $5.45, up by 9.4% in 24 hours. Turnover remains high after a rapid multi-week climb. Price action is volatile because of an airdrop dispute that surfaced in September.

MYX Price (Source: CoinMarketCap)

Analysis alleged that clustered wallets claimed about $170M of tokens, calling it a large sybil event. MYX publicly denied fraud or manipulation and said rewards came from real trading and liquidity activity. The dispute keeps screens active and helps explain sharp intraday swings.

Derivatives positioning has stayed busy around these headlines. Venue updates and sentiment trackers continue to flag the controversy, which traders use to frame short-term setups. If clarity improves around distribution, MYX could see steadier flows. Until then, momentum remains the core driver during altseason sessions.

EigenLayer (EIGEN): Restaking Meets AI Tools

EIGEN is now trading near $2.00, up by 5% in 24 hours. Interest ties to growing restaking adoption and a new AI-oriented function from EigenCloud.

The team introduced EigenAI and EigenCompute on mainnet alpha, a pair of services that deliver verifiable compute for AI agents and long-running tasks while preserving smart contract-grade guarantees. That pitch connects restaking security to practical AI workloads and has boosted attention around EIGEN.

Public materials indicate a path where Actively Validated Services can run complex jobs off-chain and still verify results on-chain. The launch message and the project site both describe this model, which gives developers a route to blend Ethereum-level assurance with AI compute. That link between restaking and AI utility explains the current lift during altseason.

Altcoin Season Read

These three tokens map the current stage of the altcoin season. PancakeSwap connects activity to deflation through fee burns while expanding access across chains. MYX captures derivatives energy while a distribution dispute fuels trading interest. EigenLayer adds an AI function to restaking, which broadens the use case beyond pure infrastructure.

Follow-through depends on participation. For CAKE, watch the next monthly burn update and whether cross-chain swaps sustain volumes. For MYX, track exchange depth and any updates on the airdrop review. For EIGEN, monitor developer adoption of EigenAI and EigenCompute and the number of services that are onboarded. If these markers hold, this rotation can continue.

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