The crypto market started on a positive note in September. Despite the Fear and Greed Index staying at 47, the top assets are growing.
Source: CoinMarketCap
Monday brought relief to the market, with Bitcoin and Ethereum gaining 2.64% and 3.05% in value, respectively. At the same time, BNB and Solana also experienced growth of over 5%. On the other hand, emerging tokens such as SATS and ORDI achieved significant progress.
Experts already predicted September to be a healing month for Ethereum, and the estimate is proving helpful for other cryptos too. Let’s look at the daily crypto update with the latest market developments.
Bitcoin
In the past 24 hours, Bitcoin has surged 2.64% to cross the 59k-dollar mark. On Tuesday, the market leader demonstrated stability, staying comfortably above the benchmark.
It is currently trading at 59,206 dollars, with a weekly decline of 6.30%. Despite Russia’s crypto ban, the spike has taken the market by surprise. In light of the ongoing market dynamics, traders must remain vigilant while investing hefty amounts.
Ethereum
Similar to Bitcoin, Ethereum also showed signs of a comeback with a 3.05% growth. The crypto is stable, maintaining its 2,500-dollar mark.
It is currently trading at 2,521 dollars, with a weekly dip of 6.47%. The network has not made any significant market development. However, traders foresee an increase in ETH ETF inflows this month.
Read More on Ethereum: Ethereum Targets $3,000 as Bulls Surpass $2,500 Amid Market Recovery
BNB
BNB ended the day with a quick surge of 5.84%, helping the coin cross the 500-dollar mark. It is currently trading at 537 dollars, with a 3.59% loss on the weekly chart.
The movement seemed unusual given that the BNB Chain exchange volume has dropped 24% in the past week. However, since the coin is trading under the descending trend line, investors are opting for BNB over other coins.
Ordinals
ORDI, or Ordinals, is a unique protocol that offers BTC holders a chance to add extra layers to their Satoshis.
With its unique service, users can embed data in their Satoshis to create BTC-based NFTs and collections. Given the proposition, ORDI has gained 21.58% value in the past 24 hours alone. The coin is trading at 32.32 dollars, with a weekly loss of 2.10%.
SATS
Similar to ORDI, SATS is also a coin associated with Bitcoin. SATS pays homage to Satoshi, the anonymous creator behind BTC.
In the past 24 hours alone, the coin has gained 12.71% and is trading at 0.0003112 dollars. Its weekly performance shows a 15.60% dip, while it has surged 35% in the past month.
The week has once again demonstrated how Bitcoin leads the crypto market. The market leader has the ability to steer the crypto industry against global financial dynamics. However, the crypto market is poised to suffer significant losses once the consequences of Russia’s crypto ban become apparent.
Source: https://www.cryptonewsz.com/daily-crypto-news-market-revives-on-sep-2-2024/