Bitcoin has continued to lead the cryptocurrency sector in recovering beyond the $57,000 mark. At present, the market capitalization remains healthy at $2.12 trillion, an increase of 2.79%. It can be observed that Bitcoin’s market dominance has also improved from the last report to 53.39%, an increase of 0.78%.
Ethereum and Altcoins Bounce Back
The situation is slightly mitigated by a 2% gain in the price of Ethereum (ETH) and by a 6.30% price increase in Dogecoin (DOGE). The rest of the cryptocurrencies are not lagging behind in growth either, Solana (SOL) having gained 3.79% and Toncoin (TON) gaining 3.42%. Ripple’s XRP sees a gain of 2%, topping the list of gainers.
📈Market Overview
— CryptoRank.io (@CryptoRank_io) September 10, 2024
Bitcoin trades above $57K. The top-10 cryptos are traded in green zone:$DOGE +6.30%$SOL +3.79%$TON +3.42%
Market capitalization: $2.12T (+2.79%)
The BTC dominance: 53.39% (+0.78%)
Fear & Greed Index: 33 (Fear)
👉 Top Gainers
Billy $BILLY +48.2%
AIT… pic.twitter.com/HGgJTCZtTZ
Market Sentiment: Cautious Optimism
The Fear and Greed Index has remained between levels this week indicating some level of fear and not outright flooding the index with greed. Things do not seem so gloomy based on activity on different exchanges as traders seemed to be cautiously optimistic.
Insights on Altcoin Trends: Trading Levels and VolumeTop Performing Cryptocurrencies of the Day
Some smaller cryptocurrencies managed to post some impressive returns. On the top of today’s gainers charts with almost 48.2% of the daily gain is Billy Token (BILLY). Next in line is AIT Protocol (AIT) with a better performance of 36.4% while FWOG comes third at 25.4%. MOTHER and OX also had great performances at 23.3% and 21.6% gain respectively.
Declines Among Major Tokens
Despite the overall positive trend, some tokens have seen declines. Starknet (STRK) recorded the most significant drop at 7.53%, trading at $0.3943 at press time. Monero (XMR), known for its strong privacy protections, decreased by 3.71% to $166.19. Other declines included Gala (GALA) and Maker (MKR), which fell by 1.94% and 1.80%, trading at $0.01843 and $1,582.57, respectively.
The above movement depicts the nature of the crypto market which in most cases after massive profits is followed by heavy losses. This is the reason why most of the investors remain cautious.
