NMR and HBAR were the standout movers in the altcoin market on Sept. 29, according to HTX market data. NMR jumped more than 40% over 24 hours, briefly reaching $15.5 before trading at $14.1. HBAR rose more than 27%, moved above $0.13 at one point, and was later quoted at $0.122.
On the NMR side, the move was tied to what the report described as catch-up buying under an "AI + institutional narrative." After older institution-linked tokens such as QNT had already strengthened, some traders began treating NMR as a comparable asset. The token also broke out of a $9 to $10 consolidation range on heavier volume. Fundamentally, Numerai currently manages about $700 million in assets, has repurchased roughly $3.2 million worth of NMR over the past year, and has shifted to a new onchain staking mechanism.
HBAR’s rally was linked to several developments around Hedera, including IDTrust’s identity solution being listed in the IBM Cloud catalog for enterprise clients and AI agent identity use cases. The report also pointed to Hedera council members appearing on a list related to Nvidia’s Open Agent Safety initiative, alongside RWA-related market chatter involving tokenized gilts from Lloyds Bank, BlackRock money market fund shares moving onchain, and participation in a UK wholesale digital markets working group.
According to HTX market data cited by BlockBeats on Sept. 29, NMR led the altcoin market with a gain of more than 40% over the past 24 hours. The token briefly touched $15.5 and was last quoted at $14.1.
On the news side, the move in NMR was described as closer to a catch-up rally driven by capital rotating into an "AI + institutional narrative." Older institution-linked tokens such as QNT had already moved first, and some traders were treating NMR as a similar asset. Its price broke out of the $9-$10 consolidation range on expanding volume, with turnover notably higher than in the previous period.
On fundamentals, Numerai currently has about $700 million in assets under management, has repurchased roughly $3.2 million worth of NMR over the past year, and has already switched to a new onchain staking mechanism.
HBAR also ranked among the top altcoin gainers, rising more than 27% over 24 hours. It briefly moved above $0.13 and was last trading at $0.122.
The report linked HBAR's rise to a string of positive developments. IDTrust, an identity solution on Hedera, has been added to the IBM Cloud catalog for enterprise clients and AI agent identity. Hedera council members also appeared on a list related to Nvidia Open Agent Safety, which the market interpreted as a sign of entry into the AI safety segment. The report also cited RWA-related market chatter, including tokenized government bonds tied to Lloyds Bank, BlackRock money market fund shares moving onchain, and Hedera joining a working group related to the UK's wholesale digital market.
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