{
  "version": "sector-trend-grade-1.0",
  "as_of_utc_day": "2026-09-24",
  "source_version": "sector-breadth-study-3.0",
  "source_url": "/research-data/sector-research/2026-09-26-v3/sector-observations.csv",
  "source_sha256": "3ad8ea089369fc6426e73a7d0e5bddcb34f1f5fac91931b3c4ca0eea7d64a51a",
  "meaning": "Descriptive historical Binance USDT spot price-trend tiers, not investment-quality ratings or buy recommendations.",
  "grade_rules": {
    "A": "90d return >= +50%, 30d >= +10%, 7d > 0%, and 90d daily-open max drawdown no deeper than 35%",
    "B": "Not A; 90d return >= +20%, 30d > 0%, and 7d > 0%",
    "C": "Not A/B; 90d return >= 0%",
    "D": "90d return < 0% but 30d return > 0%",
    "E": "90d return < 0% and 30d return <= 0%"
  },
  "sort_rule": "Within each sector, A to E; within a grade, 90d return descending, then symbol ascending.",
  "grade_counts": {
    "B": 36,
    "C": 30,
    "A": 31,
    "E": 6,
    "D": 4
  },
  "audit": {
    "sector_n": 14,
    "assignment_n": 107,
    "distinct_symbol_n": 86
  },
  "sectors": [
    {
      "sector": "Layer 1",
      "eligible_n": 21,
      "grade_counts": {
        "A": 5,
        "B": 12,
        "C": 4,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "Layer 1",
          "symbol": "NEAR",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.360763,
          "return_30d": 1.215857,
          "return_7d": 0.652804,
          "btc_relative_90d_pp": 94.9305,
          "max_drawdown_90d": -0.231253,
          "quote_volume_median_30d_usdt": 53479466.61
        },
        {
          "sector": "Layer 1",
          "symbol": "VET",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.974198,
          "return_30d": 0.553496,
          "return_7d": 0.225829,
          "btc_relative_90d_pp": 56.274,
          "max_drawdown_90d": -0.123094,
          "quote_volume_median_30d_usdt": 2004031.36
        },
        {
          "sector": "Layer 1",
          "symbol": "INJ",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.823557,
          "return_30d": 0.37039,
          "return_7d": 0.442062,
          "btc_relative_90d_pp": 41.2099,
          "max_drawdown_90d": -0.236438,
          "quote_volume_median_30d_usdt": 8653177.81
        },
        {
          "sector": "Layer 1",
          "symbol": "SOL",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.698021,
          "return_30d": 0.16175,
          "return_7d": 0.165518,
          "btc_relative_90d_pp": 28.6564,
          "max_drawdown_90d": -0.12629,
          "quote_volume_median_30d_usdt": 230400059.03
        },
        {
          "sector": "Layer 1",
          "symbol": "AVAX",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.646512,
          "return_30d": 0.360817,
          "return_7d": 0.372827,
          "btc_relative_90d_pp": 23.5054,
          "max_drawdown_90d": -0.111382,
          "quote_volume_median_30d_usdt": 18859116.58
        },
        {
          "sector": "Layer 1",
          "symbol": "ETH",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.712334,
          "return_30d": 0.081533,
          "return_7d": 0.110178,
          "btc_relative_90d_pp": 30.0876,
          "max_drawdown_90d": -0.056156,
          "quote_volume_median_30d_usdt": 698592085.0
        },
        {
          "sector": "Layer 1",
          "symbol": "ADA",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.657858,
          "return_30d": 0.076784,
          "return_7d": 0.213849,
          "btc_relative_90d_pp": 24.6401,
          "max_drawdown_90d": -0.190005,
          "quote_volume_median_30d_usdt": 31670345.66
        },
        {
          "sector": "Layer 1",
          "symbol": "XRP",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.438291,
          "return_30d": 0.012957,
          "return_7d": 0.154971,
          "btc_relative_90d_pp": 2.6833,
          "max_drawdown_90d": -0.156001,
          "quote_volume_median_30d_usdt": 210405006.81
        },
        {
          "sector": "Layer 1",
          "symbol": "SUI",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.403655,
          "return_30d": 0.200425,
          "return_7d": 0.345432,
          "btc_relative_90d_pp": -0.7803,
          "max_drawdown_90d": -0.192167,
          "quote_volume_median_30d_usdt": 57449092.36
        },
        {
          "sector": "Layer 1",
          "symbol": "BNB",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.368799,
          "return_30d": 0.089563,
          "return_7d": 0.057128,
          "btc_relative_90d_pp": -4.2658,
          "max_drawdown_90d": -0.075406,
          "quote_volume_median_30d_usdt": 97624916.71
        },
        {
          "sector": "Layer 1",
          "symbol": "ICP",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.347926,
          "return_30d": 0.209177,
          "return_7d": 0.138132,
          "btc_relative_90d_pp": -6.3531,
          "max_drawdown_90d": -0.169344,
          "quote_volume_median_30d_usdt": 6884544.72
        },
        {
          "sector": "Layer 1",
          "symbol": "DOT",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.307236,
          "return_30d": 0.225806,
          "return_7d": 0.080392,
          "btc_relative_90d_pp": -10.4222,
          "max_drawdown_90d": -0.242376,
          "quote_volume_median_30d_usdt": 9551695.49
        },
        {
          "sector": "Layer 1",
          "symbol": "TIA",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.292567,
          "return_30d": 0.23871,
          "return_7d": 0.348157,
          "btc_relative_90d_pp": -11.8891,
          "max_drawdown_90d": -0.282217,
          "quote_volume_median_30d_usdt": 2956292.19
        },
        {
          "sector": "Layer 1",
          "symbol": "APT",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.270034,
          "return_30d": 0.240789,
          "return_7d": 0.359279,
          "btc_relative_90d_pp": -14.1424,
          "max_drawdown_90d": -0.201849,
          "quote_volume_median_30d_usdt": 7191842.38
        },
        {
          "sector": "Layer 1",
          "symbol": "ETC",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.240057,
          "return_30d": 0.125,
          "return_7d": 0.182927,
          "btc_relative_90d_pp": -17.1401,
          "max_drawdown_90d": -0.164925,
          "quote_volume_median_30d_usdt": 2274365.98
        },
        {
          "sector": "Layer 1",
          "symbol": "HBAR",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.231795,
          "return_30d": 0.141524,
          "return_7d": 0.224462,
          "btc_relative_90d_pp": -17.9662,
          "max_drawdown_90d": -0.163411,
          "quote_volume_median_30d_usdt": 8036593.86
        },
        {
          "sector": "Layer 1",
          "symbol": "ALGO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.228504,
          "return_30d": 0.136166,
          "return_7d": 0.173228,
          "btc_relative_90d_pp": -18.2953,
          "max_drawdown_90d": -0.149286,
          "quote_volume_median_30d_usdt": 2462566.36
        },
        {
          "sector": "Layer 1",
          "symbol": "XLM",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.129681,
          "return_30d": 0.043366,
          "return_7d": 0.09837,
          "btc_relative_90d_pp": -28.1776,
          "max_drawdown_90d": -0.250484,
          "quote_volume_median_30d_usdt": 15057060.69
        },
        {
          "sector": "Layer 1",
          "symbol": "TRX",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.056499,
          "return_30d": -0.008116,
          "return_7d": 0.019666,
          "btc_relative_90d_pp": -35.4959,
          "max_drawdown_90d": -0.065507,
          "quote_volume_median_30d_usdt": 32024236.46
        },
        {
          "sector": "Layer 1",
          "symbol": "ATOM",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.052077,
          "return_30d": 0.114248,
          "return_7d": 0.11498,
          "btc_relative_90d_pp": -35.9381,
          "max_drawdown_90d": -0.241166,
          "quote_volume_median_30d_usdt": 2364322.76
        },
        {
          "sector": "Layer 1",
          "symbol": "SEI",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.030372,
          "return_30d": 0.256225,
          "return_7d": 0.368019,
          "btc_relative_90d_pp": -38.1086,
          "max_drawdown_90d": -0.326584,
          "quote_volume_median_30d_usdt": 3698761.76
        }
      ]
    },
    {
      "sector": "Layer 2",
      "eligible_n": 8,
      "grade_counts": {
        "A": 2,
        "B": 1,
        "C": 5,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "Layer 2",
          "symbol": "ARB",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.94543,
          "return_30d": 1.22807,
          "return_7d": 0.283591,
          "btc_relative_90d_pp": 153.3972,
          "max_drawdown_90d": -0.296883,
          "quote_volume_median_30d_usdt": 36353705.43
        },
        {
          "sector": "Layer 2",
          "symbol": "ZRO",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.835985,
          "return_30d": 0.376147,
          "return_7d": 0.510574,
          "btc_relative_90d_pp": 42.4528,
          "max_drawdown_90d": -0.295969,
          "quote_volume_median_30d_usdt": 6361784.94
        },
        {
          "sector": "Layer 2",
          "symbol": "STRK",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.290572,
          "return_30d": 0.418579,
          "return_7d": 0.373343,
          "btc_relative_90d_pp": -12.0885,
          "max_drawdown_90d": -0.295611,
          "quote_volume_median_30d_usdt": 2815014.76
        },
        {
          "sector": "Layer 2",
          "symbol": "LSK",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 3.358629,
          "return_30d": 2.862256,
          "return_7d": -0.254085,
          "btc_relative_90d_pp": 294.7172,
          "max_drawdown_90d": -0.597314,
          "quote_volume_median_30d_usdt": 1761805.97
        },
        {
          "sector": "Layer 2",
          "symbol": "POL",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.403548,
          "return_30d": -0.129897,
          "return_7d": 0.046281,
          "btc_relative_90d_pp": -0.791,
          "max_drawdown_90d": -0.263952,
          "quote_volume_median_30d_usdt": 7409327.11
        },
        {
          "sector": "Layer 2",
          "symbol": "HEMI",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.268344,
          "return_30d": -0.193333,
          "return_7d": -0.048742,
          "btc_relative_90d_pp": -14.3114,
          "max_drawdown_90d": -0.630872,
          "quote_volume_median_30d_usdt": 6963111.22
        },
        {
          "sector": "Layer 2",
          "symbol": "OP",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.163826,
          "return_30d": 0.141133,
          "return_7d": 0.281543,
          "btc_relative_90d_pp": -24.7632,
          "max_drawdown_90d": -0.244015,
          "quote_volume_median_30d_usdt": 6406999.91
        },
        {
          "sector": "Layer 2",
          "symbol": "ZK",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.097059,
          "return_30d": 0.260135,
          "return_7d": 0.251678,
          "btc_relative_90d_pp": -31.4399,
          "max_drawdown_90d": -0.340639,
          "quote_volume_median_30d_usdt": 1820271.8
        }
      ]
    },
    {
      "sector": "DeFi",
      "eligible_n": 12,
      "grade_counts": {
        "A": 5,
        "B": 4,
        "C": 2,
        "D": 0,
        "E": 1
      },
      "observations": [
        {
          "sector": "DeFi",
          "symbol": "RAY",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 2.338506,
          "return_30d": 1.579359,
          "return_7d": 0.422085,
          "btc_relative_90d_pp": 192.7048,
          "max_drawdown_90d": -0.261263,
          "quote_volume_median_30d_usdt": 7295671.98
        },
        {
          "sector": "DeFi",
          "symbol": "UNI",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 2.202356,
          "return_30d": 1.133918,
          "return_7d": 0.377142,
          "btc_relative_90d_pp": 179.0899,
          "max_drawdown_90d": -0.277753,
          "quote_volume_median_30d_usdt": 67316622.11
        },
        {
          "sector": "DeFi",
          "symbol": "ENA",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.5,
          "return_30d": 0.34905,
          "return_7d": 0.384409,
          "btc_relative_90d_pp": 108.8542,
          "max_drawdown_90d": -0.227582,
          "quote_volume_median_30d_usdt": 39731779.24
        },
        {
          "sector": "DeFi",
          "symbol": "PENDLE",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.980738,
          "return_30d": 0.39435,
          "return_7d": 0.059227,
          "btc_relative_90d_pp": 56.9281,
          "max_drawdown_90d": -0.230863,
          "quote_volume_median_30d_usdt": 4659324.8
        },
        {
          "sector": "DeFi",
          "symbol": "CAKE",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.943096,
          "return_30d": 0.452638,
          "return_7d": 0.108658,
          "btc_relative_90d_pp": 53.1638,
          "max_drawdown_90d": -0.069316,
          "quote_volume_median_30d_usdt": 7567719.29
        },
        {
          "sector": "DeFi",
          "symbol": "AAVE",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.685098,
          "return_30d": 0.050257,
          "return_7d": 0.162345,
          "btc_relative_90d_pp": 27.364,
          "max_drawdown_90d": -0.155053,
          "quote_volume_median_30d_usdt": 15290793.19
        },
        {
          "sector": "DeFi",
          "symbol": "LDO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.566084,
          "return_30d": 0.035772,
          "return_7d": 0.104705,
          "btc_relative_90d_pp": 15.4626,
          "max_drawdown_90d": -0.297894,
          "quote_volume_median_30d_usdt": 3323525.39
        },
        {
          "sector": "DeFi",
          "symbol": "SKY",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.357074,
          "return_30d": 0.025517,
          "return_7d": 0.221271,
          "btc_relative_90d_pp": -5.4384,
          "max_drawdown_90d": -0.218294,
          "quote_volume_median_30d_usdt": 1469063.92
        },
        {
          "sector": "DeFi",
          "symbol": "ONDO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.313176,
          "return_30d": 0.080671,
          "return_7d": 0.187338,
          "btc_relative_90d_pp": -9.8281,
          "max_drawdown_90d": -0.222115,
          "quote_volume_median_30d_usdt": 12287584.14
        },
        {
          "sector": "DeFi",
          "symbol": "CRV",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.681842,
          "return_30d": -0.040154,
          "return_7d": 0.013404,
          "btc_relative_90d_pp": 27.0384,
          "max_drawdown_90d": -0.16248,
          "quote_volume_median_30d_usdt": 4251585.26
        },
        {
          "sector": "DeFi",
          "symbol": "MORPHO",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.513545,
          "return_30d": -0.013436,
          "return_7d": 0.220903,
          "btc_relative_90d_pp": 10.2088,
          "max_drawdown_90d": -0.282369,
          "quote_volume_median_30d_usdt": 4404694.94
        },
        {
          "sector": "DeFi",
          "symbol": "JTO",
          "trend_grade": "E",
          "trend_label": "90-day and 30-day decline",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.353371,
          "return_30d": -0.209864,
          "return_7d": 0.073924,
          "btc_relative_90d_pp": -76.4828,
          "max_drawdown_90d": -0.507602,
          "quote_volume_median_30d_usdt": 2810045.91
        }
      ]
    },
    {
      "sector": "Meme",
      "eligible_n": 13,
      "grade_counts": {
        "A": 1,
        "B": 7,
        "C": 4,
        "D": 1,
        "E": 0
      },
      "observations": [
        {
          "sector": "Meme",
          "symbol": "WIF",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.623783,
          "return_30d": 0.159384,
          "return_7d": 0.273868,
          "btc_relative_90d_pp": 21.2325,
          "max_drawdown_90d": -0.257534,
          "quote_volume_median_30d_usdt": 2298704.26
        },
        {
          "sector": "Meme",
          "symbol": "MUBARAK",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 4.398366,
          "return_30d": 1.209448,
          "return_7d": 0.83062,
          "btc_relative_90d_pp": 398.6908,
          "max_drawdown_90d": -0.379757,
          "quote_volume_median_30d_usdt": 2072257.53
        },
        {
          "sector": "Meme",
          "symbol": "PEPE",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.834746,
          "return_30d": 0.071782,
          "return_7d": 0.273529,
          "btc_relative_90d_pp": 42.3288,
          "max_drawdown_90d": -0.213592,
          "quote_volume_median_30d_usdt": 28960488.1
        },
        {
          "sector": "Meme",
          "symbol": "TST",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.632325,
          "return_30d": 0.10281,
          "return_7d": 0.128758,
          "btc_relative_90d_pp": 22.0868,
          "max_drawdown_90d": -0.360311,
          "quote_volume_median_30d_usdt": 1491431.92
        },
        {
          "sector": "Meme",
          "symbol": "GIGGLE",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.556452,
          "return_30d": 0.076408,
          "return_7d": 0.116898,
          "btc_relative_90d_pp": 14.4994,
          "max_drawdown_90d": -0.365808,
          "quote_volume_median_30d_usdt": 3816301.54
        },
        {
          "sector": "Meme",
          "symbol": "SHIB",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.327059,
          "return_30d": 0.031079,
          "return_7d": 0.13253,
          "btc_relative_90d_pp": -8.4399,
          "max_drawdown_90d": -0.171375,
          "quote_volume_median_30d_usdt": 4208100.9
        },
        {
          "sector": "Meme",
          "symbol": "DOGE",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.238051,
          "return_30d": 0.029076,
          "return_7d": 0.146088,
          "btc_relative_90d_pp": -17.3407,
          "max_drawdown_90d": -0.142689,
          "quote_volume_median_30d_usdt": 67707175.89
        },
        {
          "sector": "Meme",
          "symbol": "FLOKI",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.235161,
          "return_30d": 0.013006,
          "return_7d": 0.152156,
          "btc_relative_90d_pp": -17.6297,
          "max_drawdown_90d": -0.200481,
          "quote_volume_median_30d_usdt": 1841308.13
        },
        {
          "sector": "Meme",
          "symbol": "BOME",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.526225,
          "return_30d": -0.10768,
          "return_7d": 0.145617,
          "btc_relative_90d_pp": 111.4767,
          "max_drawdown_90d": -0.321715,
          "quote_volume_median_30d_usdt": 1937852.46
        },
        {
          "sector": "Meme",
          "symbol": "PENGU",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.661722,
          "return_30d": -0.008041,
          "return_7d": 0.395076,
          "btc_relative_90d_pp": 25.0264,
          "max_drawdown_90d": -0.307537,
          "quote_volume_median_30d_usdt": 9564039.09
        },
        {
          "sector": "Meme",
          "symbol": "NEIRO",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.412014,
          "return_30d": -0.048614,
          "return_7d": 0.080305,
          "btc_relative_90d_pp": 0.0557,
          "max_drawdown_90d": -0.245799,
          "quote_volume_median_30d_usdt": 1491801.86
        },
        {
          "sector": "Meme",
          "symbol": "TRUMP",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.196472,
          "return_30d": -0.178019,
          "return_7d": 0.017589,
          "btc_relative_90d_pp": -21.4986,
          "max_drawdown_90d": -0.312386,
          "quote_volume_median_30d_usdt": 26356253.74
        },
        {
          "sector": "Meme",
          "symbol": "BONK",
          "trend_grade": "D",
          "trend_label": "Recent rebound inside 90-day loss",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.135135,
          "return_30d": 0.096573,
          "return_7d": 0.318352,
          "btc_relative_90d_pp": -54.6593,
          "max_drawdown_90d": -0.550201,
          "quote_volume_median_30d_usdt": 3546321.54
        }
      ]
    },
    {
      "sector": "AI",
      "eligible_n": 8,
      "grade_counts": {
        "A": 1,
        "B": 1,
        "C": 3,
        "D": 2,
        "E": 1
      },
      "observations": [
        {
          "sector": "AI",
          "symbol": "ZAMA",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.95982,
          "return_30d": 0.538513,
          "return_7d": 0.919133,
          "btc_relative_90d_pp": 154.8362,
          "max_drawdown_90d": -0.333333,
          "quote_volume_median_30d_usdt": 3566458.05
        },
        {
          "sector": "AI",
          "symbol": "TAO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.351529,
          "return_30d": 0.193187,
          "return_7d": 0.293111,
          "btc_relative_90d_pp": -5.9928,
          "max_drawdown_90d": -0.180211,
          "quote_volume_median_30d_usdt": 23850989.2
        },
        {
          "sector": "AI",
          "symbol": "VIRTUAL",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.330983,
          "return_30d": -0.119945,
          "return_7d": 0.160492,
          "btc_relative_90d_pp": -8.0474,
          "max_drawdown_90d": -0.262568,
          "quote_volume_median_30d_usdt": 4330889.48
        },
        {
          "sector": "AI",
          "symbol": "FET",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.151929,
          "return_30d": 0.117444,
          "return_7d": 0.228481,
          "btc_relative_90d_pp": -25.9529,
          "max_drawdown_90d": -0.353568,
          "quote_volume_median_30d_usdt": 10999891.0
        },
        {
          "sector": "AI",
          "symbol": "RENDER",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.137886,
          "return_30d": 0.165434,
          "return_7d": 0.268668,
          "btc_relative_90d_pp": -27.3572,
          "max_drawdown_90d": -0.225448,
          "quote_volume_median_30d_usdt": 3993910.0
        },
        {
          "sector": "AI",
          "symbol": "WLD",
          "trend_grade": "D",
          "trend_label": "Recent rebound inside 90-day loss",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.18114,
          "return_30d": 0.007937,
          "return_7d": 0.090421,
          "btc_relative_90d_pp": -59.2598,
          "max_drawdown_90d": -0.395728,
          "quote_volume_median_30d_usdt": 22813818.25
        },
        {
          "sector": "AI",
          "symbol": "SAHARA",
          "trend_grade": "D",
          "trend_label": "Recent rebound inside 90-day loss",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.220283,
          "return_30d": 0.135593,
          "return_7d": 0.123353,
          "btc_relative_90d_pp": -63.174,
          "max_drawdown_90d": -0.394015,
          "quote_volume_median_30d_usdt": 1208466.52
        },
        {
          "sector": "AI",
          "symbol": "KAITO",
          "trend_grade": "E",
          "trend_label": "90-day and 30-day decline",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.28933,
          "return_30d": -0.041495,
          "return_7d": 0.109332,
          "btc_relative_90d_pp": -70.0788,
          "max_drawdown_90d": -0.777502,
          "quote_volume_median_30d_usdt": 1612374.67
        }
      ]
    },
    {
      "sector": "RWA",
      "eligible_n": 5,
      "grade_counts": {
        "A": 2,
        "B": 2,
        "C": 0,
        "D": 1,
        "E": 0
      },
      "observations": [
        {
          "sector": "RWA",
          "symbol": "PENDLE",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.980738,
          "return_30d": 0.39435,
          "return_7d": 0.059227,
          "btc_relative_90d_pp": 56.9281,
          "max_drawdown_90d": -0.230863,
          "quote_volume_median_30d_usdt": 4659324.8
        },
        {
          "sector": "RWA",
          "symbol": "PLUME",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.657867,
          "return_30d": 0.137681,
          "return_7d": 0.263073,
          "btc_relative_90d_pp": 24.6409,
          "max_drawdown_90d": -0.155571,
          "quote_volume_median_30d_usdt": 2194090.03
        },
        {
          "sector": "RWA",
          "symbol": "SKY",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.357074,
          "return_30d": 0.025517,
          "return_7d": 0.221271,
          "btc_relative_90d_pp": -5.4384,
          "max_drawdown_90d": -0.218294,
          "quote_volume_median_30d_usdt": 1469063.92
        },
        {
          "sector": "RWA",
          "symbol": "ONDO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.313176,
          "return_30d": 0.080671,
          "return_7d": 0.187338,
          "btc_relative_90d_pp": -9.8281,
          "max_drawdown_90d": -0.222115,
          "quote_volume_median_30d_usdt": 12287584.14
        },
        {
          "sector": "RWA",
          "symbol": "CFG",
          "trend_grade": "D",
          "trend_label": "Recent rebound inside 90-day loss",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.311531,
          "return_30d": 0.008517,
          "return_7d": 0.345644,
          "btc_relative_90d_pp": -72.2989,
          "max_drawdown_90d": -0.533584,
          "quote_volume_median_30d_usdt": 1925746.46
        }
      ]
    },
    {
      "sector": "Gaming",
      "eligible_n": 5,
      "grade_counts": {
        "A": 1,
        "B": 0,
        "C": 2,
        "D": 0,
        "E": 2
      },
      "observations": [
        {
          "sector": "Gaming",
          "symbol": "SAGA",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 2.622441,
          "return_30d": 2.187458,
          "return_7d": 1.416793,
          "btc_relative_90d_pp": 221.0984,
          "max_drawdown_90d": -0.232951,
          "quote_volume_median_30d_usdt": 1581270.98
        },
        {
          "sector": "Gaming",
          "symbol": "ACE",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.502046,
          "return_30d": -0.125834,
          "return_7d": 0.200262,
          "btc_relative_90d_pp": 109.0589,
          "max_drawdown_90d": -0.471006,
          "quote_volume_median_30d_usdt": 2788582.27
        },
        {
          "sector": "Gaming",
          "symbol": "AXS",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.010753,
          "return_30d": 0.065979,
          "return_7d": 0.114224,
          "btc_relative_90d_pp": -40.0705,
          "max_drawdown_90d": -0.223273,
          "quote_volume_median_30d_usdt": 1074725.58
        },
        {
          "sector": "Gaming",
          "symbol": "SAND",
          "trend_grade": "E",
          "trend_label": "90-day and 30-day decline",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.142432,
          "return_30d": -0.053496,
          "return_7d": 0.16657,
          "btc_relative_90d_pp": -55.389,
          "max_drawdown_90d": -0.346477,
          "quote_volume_median_30d_usdt": 1109656.36
        },
        {
          "sector": "Gaming",
          "symbol": "GALA",
          "trend_grade": "E",
          "trend_label": "90-day and 30-day decline",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.166011,
          "return_30d": -0.011905,
          "return_7d": 0.167584,
          "btc_relative_90d_pp": -57.7469,
          "max_drawdown_90d": -0.443291,
          "quote_volume_median_30d_usdt": 1800163.85
        }
      ]
    },
    {
      "sector": "DePIN",
      "eligible_n": 4,
      "grade_counts": {
        "A": 1,
        "B": 1,
        "C": 2,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "DePIN",
          "symbol": "AR",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.358904,
          "return_30d": 0.861219,
          "return_7d": 0.68956,
          "btc_relative_90d_pp": 94.7446,
          "max_drawdown_90d": -0.188091,
          "quote_volume_median_30d_usdt": 2670183.69
        },
        {
          "sector": "DePIN",
          "symbol": "FIL",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.270421,
          "return_30d": 0.241942,
          "return_7d": 0.160655,
          "btc_relative_90d_pp": -14.1037,
          "max_drawdown_90d": -0.216605,
          "quote_volume_median_30d_usdt": 10963129.99
        },
        {
          "sector": "DePIN",
          "symbol": "0G",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.158019,
          "return_30d": 0.481593,
          "return_7d": 0.297569,
          "btc_relative_90d_pp": -25.3439,
          "max_drawdown_90d": -0.432099,
          "quote_volume_median_30d_usdt": 1735880.52
        },
        {
          "sector": "DePIN",
          "symbol": "RENDER",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.137886,
          "return_30d": 0.165434,
          "return_7d": 0.268668,
          "btc_relative_90d_pp": -27.3572,
          "max_drawdown_90d": -0.225448,
          "quote_volume_median_30d_usdt": 3993910.0
        }
      ]
    },
    {
      "sector": "DEX",
      "eligible_n": 6,
      "grade_counts": {
        "A": 3,
        "B": 1,
        "C": 2,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "DEX",
          "symbol": "RAY",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 2.338506,
          "return_30d": 1.579359,
          "return_7d": 0.422085,
          "btc_relative_90d_pp": 192.7048,
          "max_drawdown_90d": -0.261263,
          "quote_volume_median_30d_usdt": 7295671.98
        },
        {
          "sector": "DEX",
          "symbol": "UNI",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 2.202356,
          "return_30d": 1.133918,
          "return_7d": 0.377142,
          "btc_relative_90d_pp": 179.0899,
          "max_drawdown_90d": -0.277753,
          "quote_volume_median_30d_usdt": 67316622.11
        },
        {
          "sector": "DEX",
          "symbol": "CAKE",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.943096,
          "return_30d": 0.452638,
          "return_7d": 0.108658,
          "btc_relative_90d_pp": 53.1638,
          "max_drawdown_90d": -0.069316,
          "quote_volume_median_30d_usdt": 7567719.29
        },
        {
          "sector": "DEX",
          "symbol": "ORCA",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.380738,
          "return_30d": 0.17368,
          "return_7d": 0.164768,
          "btc_relative_90d_pp": -3.072,
          "max_drawdown_90d": -0.188889,
          "quote_volume_median_30d_usdt": 1016991.79
        },
        {
          "sector": "DEX",
          "symbol": "ASTER",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.114125,
          "return_30d": -0.00701,
          "return_7d": -0.01266,
          "btc_relative_90d_pp": -29.7332,
          "max_drawdown_90d": -0.135959,
          "quote_volume_median_30d_usdt": 11183204.49
        },
        {
          "sector": "DEX",
          "symbol": "DODO",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.059684,
          "return_30d": -0.069851,
          "return_7d": 0.019707,
          "btc_relative_90d_pp": -35.1774,
          "max_drawdown_90d": -0.365727,
          "quote_volume_median_30d_usdt": 1694770.33
        }
      ]
    },
    {
      "sector": "Oracle & Data",
      "eligible_n": 3,
      "grade_counts": {
        "A": 1,
        "B": 1,
        "C": 0,
        "D": 0,
        "E": 1
      },
      "observations": [
        {
          "sector": "Oracle & Data",
          "symbol": "PYTH",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.930907,
          "return_30d": 0.256271,
          "return_7d": 0.185382,
          "btc_relative_90d_pp": 51.9449,
          "max_drawdown_90d": -0.244995,
          "quote_volume_median_30d_usdt": 3066042.13
        },
        {
          "sector": "Oracle & Data",
          "symbol": "LINK",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.704746,
          "return_30d": 0.062516,
          "return_7d": 0.117381,
          "btc_relative_90d_pp": 29.3289,
          "max_drawdown_90d": -0.177271,
          "quote_volume_median_30d_usdt": 30516541.37
        },
        {
          "sector": "Oracle & Data",
          "symbol": "KAITO",
          "trend_grade": "E",
          "trend_label": "90-day and 30-day decline",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.28933,
          "return_30d": -0.041495,
          "return_7d": 0.109332,
          "btc_relative_90d_pp": -70.0788,
          "max_drawdown_90d": -0.777502,
          "quote_volume_median_30d_usdt": 1612374.67
        }
      ]
    },
    {
      "sector": "Privacy",
      "eligible_n": 4,
      "grade_counts": {
        "A": 4,
        "B": 0,
        "C": 0,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "Privacy",
          "symbol": "ZEC",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 2.595278,
          "return_30d": 0.803763,
          "return_7d": 0.120002,
          "btc_relative_90d_pp": 218.382,
          "max_drawdown_90d": -0.197728,
          "quote_volume_median_30d_usdt": 290980843.61
        },
        {
          "sector": "Privacy",
          "symbol": "ZAMA",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.95982,
          "return_30d": 0.538513,
          "return_7d": 0.919133,
          "btc_relative_90d_pp": 154.8362,
          "max_drawdown_90d": -0.333333,
          "quote_volume_median_30d_usdt": 3566458.05
        },
        {
          "sector": "Privacy",
          "symbol": "ZEN",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.76057,
          "return_30d": 0.325315,
          "return_7d": 0.058841,
          "btc_relative_90d_pp": 34.9113,
          "max_drawdown_90d": -0.170339,
          "quote_volume_median_30d_usdt": 6510068.0
        },
        {
          "sector": "Privacy",
          "symbol": "DASH",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.693824,
          "return_30d": 0.384375,
          "return_7d": 0.026743,
          "btc_relative_90d_pp": 28.2366,
          "max_drawdown_90d": -0.292567,
          "quote_volume_median_30d_usdt": 18707622.52
        }
      ]
    },
    {
      "sector": "Payments",
      "eligible_n": 7,
      "grade_counts": {
        "A": 3,
        "B": 2,
        "C": 2,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "Payments",
          "symbol": "VET",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.974198,
          "return_30d": 0.553496,
          "return_7d": 0.225829,
          "btc_relative_90d_pp": 56.274,
          "max_drawdown_90d": -0.123094,
          "quote_volume_median_30d_usdt": 2004031.36
        },
        {
          "sector": "Payments",
          "symbol": "BCH",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.747281,
          "return_30d": 0.245478,
          "return_7d": 0.525316,
          "btc_relative_90d_pp": 33.5824,
          "max_drawdown_90d": -0.248527,
          "quote_volume_median_30d_usdt": 10073793.7
        },
        {
          "sector": "Payments",
          "symbol": "LTC",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.511486,
          "return_30d": 0.197483,
          "return_7d": 0.196325,
          "btc_relative_90d_pp": 10.0028,
          "max_drawdown_90d": -0.098364,
          "quote_volume_median_30d_usdt": 18322379.36
        },
        {
          "sector": "Payments",
          "symbol": "XRP",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.438291,
          "return_30d": 0.012957,
          "return_7d": 0.154971,
          "btc_relative_90d_pp": 2.6833,
          "max_drawdown_90d": -0.156001,
          "quote_volume_median_30d_usdt": 210405006.81
        },
        {
          "sector": "Payments",
          "symbol": "ALGO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.228504,
          "return_30d": 0.136166,
          "return_7d": 0.173228,
          "btc_relative_90d_pp": -18.2953,
          "max_drawdown_90d": -0.149286,
          "quote_volume_median_30d_usdt": 2462566.36
        },
        {
          "sector": "Payments",
          "symbol": "COTI",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.964539,
          "return_30d": 0.337088,
          "return_7d": -0.036522,
          "btc_relative_90d_pp": 55.3081,
          "max_drawdown_90d": -0.438657,
          "quote_volume_median_30d_usdt": 4305614.36
        },
        {
          "sector": "Payments",
          "symbol": "XLM",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.129681,
          "return_30d": 0.043366,
          "return_7d": 0.09837,
          "btc_relative_90d_pp": -28.1776,
          "max_drawdown_90d": -0.250484,
          "quote_volume_median_30d_usdt": 15057060.69
        }
      ]
    },
    {
      "sector": "Interoperability",
      "eligible_n": 6,
      "grade_counts": {
        "A": 1,
        "B": 2,
        "C": 3,
        "D": 0,
        "E": 0
      },
      "observations": [
        {
          "sector": "Interoperability",
          "symbol": "ZRO",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.835985,
          "return_30d": 0.376147,
          "return_7d": 0.510574,
          "btc_relative_90d_pp": 42.4528,
          "max_drawdown_90d": -0.295969,
          "quote_volume_median_30d_usdt": 6361784.94
        },
        {
          "sector": "Interoperability",
          "symbol": "LINK",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.704746,
          "return_30d": 0.062516,
          "return_7d": 0.117381,
          "btc_relative_90d_pp": 29.3289,
          "max_drawdown_90d": -0.177271,
          "quote_volume_median_30d_usdt": 30516541.37
        },
        {
          "sector": "Interoperability",
          "symbol": "DOT",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.307236,
          "return_30d": 0.225806,
          "return_7d": 0.080392,
          "btc_relative_90d_pp": -10.4222,
          "max_drawdown_90d": -0.242376,
          "quote_volume_median_30d_usdt": 9551695.49
        },
        {
          "sector": "Interoperability",
          "symbol": "POL",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.403548,
          "return_30d": -0.129897,
          "return_7d": 0.046281,
          "btc_relative_90d_pp": -0.791,
          "max_drawdown_90d": -0.263952,
          "quote_volume_median_30d_usdt": 7409327.11
        },
        {
          "sector": "Interoperability",
          "symbol": "ATOM",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.052077,
          "return_30d": 0.114248,
          "return_7d": 0.11498,
          "btc_relative_90d_pp": -35.9381,
          "max_drawdown_90d": -0.241166,
          "quote_volume_median_30d_usdt": 2364322.76
        },
        {
          "sector": "Interoperability",
          "symbol": "BICO",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.037001,
          "return_30d": 0.158347,
          "return_7d": 0.143008,
          "btc_relative_90d_pp": -37.4456,
          "max_drawdown_90d": -0.73052,
          "quote_volume_median_30d_usdt": 1913910.78
        }
      ]
    },
    {
      "sector": "Stablecoin Infrastructure",
      "eligible_n": 5,
      "grade_counts": {
        "A": 1,
        "B": 2,
        "C": 1,
        "D": 0,
        "E": 1
      },
      "observations": [
        {
          "sector": "Stablecoin Infrastructure",
          "symbol": "ENA",
          "trend_grade": "A",
          "trend_label": "Strong aligned growth",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 1.5,
          "return_30d": 0.34905,
          "return_7d": 0.384409,
          "btc_relative_90d_pp": 108.8542,
          "max_drawdown_90d": -0.227582,
          "quote_volume_median_30d_usdt": 39731779.24
        },
        {
          "sector": "Stablecoin Infrastructure",
          "symbol": "SKY",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.357074,
          "return_30d": 0.025517,
          "return_7d": 0.221271,
          "btc_relative_90d_pp": -5.4384,
          "max_drawdown_90d": -0.218294,
          "quote_volume_median_30d_usdt": 1469063.92
        },
        {
          "sector": "Stablecoin Infrastructure",
          "symbol": "ONDO",
          "trend_grade": "B",
          "trend_label": "Positive, recently confirmed",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.313176,
          "return_30d": 0.080671,
          "return_7d": 0.187338,
          "btc_relative_90d_pp": -9.8281,
          "max_drawdown_90d": -0.222115,
          "quote_volume_median_30d_usdt": 12287584.14
        },
        {
          "sector": "Stablecoin Infrastructure",
          "symbol": "SPK",
          "trend_grade": "C",
          "trend_label": "Positive but mixed or mild",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": 0.141907,
          "return_30d": 0.060616,
          "return_7d": 0.110612,
          "btc_relative_90d_pp": -26.955,
          "max_drawdown_90d": -0.286076,
          "quote_volume_median_30d_usdt": 1215260.32
        },
        {
          "sector": "Stablecoin Infrastructure",
          "symbol": "WLFI",
          "trend_grade": "E",
          "trend_label": "90-day and 30-day decline",
          "start": "2026-06-26",
          "end": "2026-09-24",
          "return_90d": -0.070205,
          "return_30d": -0.055652,
          "return_7d": -0.065404,
          "btc_relative_90d_pp": -48.1663,
          "max_drawdown_90d": -0.136364,
          "quote_volume_median_30d_usdt": 5641259.85
        }
      ]
    }
  ]
}