The crypto market took a strong upward turn today as traders gear up for the upcoming Federal Open Market Committee (FOMC) meeting. Bitcoin (BTC) led the charge, breaking past $63,000. Ethereum (ETH) and Solana (SOL) followed with gains, while XRP faced setbacks.
The global market cap jumped by 5.07% in the past 24 hours, now at $2.28 trillion. Trading volume also surged by over 20%, reaching $143 billion. Here’s a closer look at the top cryptocurrencies and their movements as of September 18.
Bitcoin Pushes Past $60K
Bitcoin rallied today, reaching $63,380, a gain of almost 6% in the last 24 hours. Its lowest price during the day was $58,035, with a high of $63,746. The surge aligns with a $186.76 million inflow into Bitcoin ETFs as of September 17, pushing Bitcoin’s dominance up by 0.58% to 57.27%. Currently, Bitcoin’s market cap is holding at $1.25 trillion.
Ethereum Follows the Upward Trend
Ethereum saw a 7.2% increase, trading at $2,478 today. The coin’s price fluctuated between $2,302 and $2,480 over the last 24 hours. Despite spot Ethereum ETFs experiencing outflows of $15.11 million, ETH managed to stay on course, reflecting the overall market sentiment. Its market cap now stands at $298 billion. Recent analysis suggests growing investor interest and strong market resilience are keeping Ethereum on an upward track.
Solana’s Subtle Rise
Solana also joined the rally but posted a more modest gain of 11.7%, trading at $143. The coin’s daily range moved between $128 and $144. Solana’s market cap hit $67.44 billion today.
XRP Gained the Momentum
In contrast, XRP saw an increase of 4.9% to $0.5934, bucking the trend set by other major cryptocurrencies. The token traded between $0.5673 and $0.5934. Its market cap rests at $33.48 billion.
Meme Coins See Mixed Activity
Meme coins, known for their volatility, also saw some movement. Dogecoin gained 6.8%, now trading at $0.1069, fueled by renewed activity on its network. Shiba Inu followed suit, also rising by 10.5% to $0.0000145. PEPE, WIF, and FLOKI coins registered gains of 15-19%, reflecting positive sentiment within the meme coin space.
Top Gainers and Losers in the Crypto Market
Biggest Gainers:
- REEF (REEF): Shot up by 82%, trading at $0.004837. Its daily range was between $0.00269 and $0.00488.
- Bonafida (FIDA): Rose 72.5% to $0.2222, with a daily high of $0.4279.
- ANDY ETH (ANDY): Climbed 57.6%, reaching $0.00009778 from a low of $0.00006280.
Biggest Losers:
- Kittekoin (KOIN): Dropped by 35% to $0.06311, with a daily low of $0.06205.
- Cate on ETH (CATE): Fell by 26.6% to $0.02363, trading as high as $0.03220.
- Unizen (ZCX): Declined 14.5%, now priced at $0.07586.
As investors anticipate the FOMC meeting, the crypto market remains volatile, with Bitcoin continuing to set the pace for the rest of the market.
Also Read: Bitcoin ETFs: The U.S. Election’s Potential Influence on the Crypto Market