Multiple positive factors drove NMR and HBAR to lead the altcoin market, surging over 40% and 27% respectively.

BlockBeats news, September 29 — According to HTX market data, NMR led the altcoin market higher, surging over 40% in 24 hours and briefly touching $15.5, now trading at $14.1.

On the news front, NMR is more akin to a catch-up rally driven by capital under the "AI + institutional narrative." Older institutional-related tokens such as QNT had already strengthened earlier, and some traders view NMR as a similar play. Its price broke out with volume from the $9–$10 consolidation range, with trading volume significantly higher than before. On fundamentals, Numerai currently manages approximately $700 million in assets, has cumulatively repurchased about $3.2 million worth of NMR over the past year, and has switched to a new on-chain staking mechanism.

HBAR also led the altcoin market higher, surging over 27% in 24 hours and briefly breaking above $0.13, now trading at $0.122.

On the news front, Hedera's IDTrust identity solution was listed on the IBM Cloud catalog, targeting enterprise customers and AI Agent identity; a Hedera Governing Council member appeared on Nvidia's Open Agent Safety-related list, interpreted by the market as breaking into the AI safety track; combined with RWA rumors such as Lloyds Bank tokenized government bonds and BlackRock money market fund shares going on-chain, as well as joining a UK wholesale digital markets-related working group, multiple positive developments drove HBAR higher.