The crypto market showed strong momentum on September 3, with Bitcoin and Ethereum being part of broader recovery. The global crypto market cap has climbed to $3.84 trillion, reflecting a 1.85% increase over the past 24 hours. Trading activity has also surged, with total daily turnover reaching $165.32 billion, which is a 0.83% rise.
Bitcoin(BTC), the top cryptocurrency by market cap, traded at $111,430 with a 1.79% gain, while the second one Ethereum, reached $4,380, adding 1.87% in the same period.
Top Gainers and Losers
MemeCore (M) was leading the top gainers list, having a 13.79% surge, reaching $1.02, backed by a trading volume of $38.4 million. Meanwhile, Four (FORM) followed with a climb of 7.81% to hit $3.58, and OKB saw a 7.68% increase, landing at $178.14.Â
Ethena (ENA) advanced by 7.62% to reach $0.7319, and recorded the day’s high trading volume of $725.7 million. Ondo (ONDO) followed closely, increasing 6.30% to be at a price of $0.9728.
In contrast, some tokens recorded declines. World Liberty Financial (WLFI) fell 3.76% to $0.2263 becoming the top loser, with daily trades amounting to $1.35 billion.Â
In addition, there were declines of 0.94% for Pyth Network (PYTH), 0.92% for Mantle (MNT), 0.75% for UNUS SED LEO (LEO), and 0.61% for Bitget Token (BGB), which fell to $5.09.
Market Sentiment and Institutional Flow
Investor confidence seems to be holding steady. The Fear and Greed Index is at 42 when writing, which suggests a neutral outlook. At the same time, the Altcoin Season Index is at 50, indicating that Bitcoin and altcoins are on equal footing.
There’s been a surge of interest in crypto ETFs since the past day. On September 2, net inflows hit $204.1 million. This is a change from the mixed inflow and outflow patterns seen since early August.
In addition, institutions continue to be involved, which is confirmed by futures reaching $3.83 billion and perpetual contracts totaling $968.02 billion.
The latest uptick shows steady demand across retail and institutional fronts. Hence, market resilience driving a stronger rally is to be expected.
Also Read: Bitcoin to ‘Lose a Zero’ and Drop to $10k: Warns Bloomberg Strategist
