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Bitcoin, Ethereum rise as global crypto market cap hits $1.12 trillion
Editor
Published Oct 02, 2023 05:28PM ET
Updated Oct 02, 2023 05:28PM ET
Bitcoin BTC/USD and Ethereum ETH/USD both traded higher on Monday, with Bitcoin surpassing the $28,000 mark and Ethereum trading past the key $1,700 level. Bitcoin SV BSV/USD emerged as the top gainer over the prior 24 hours, while GMX GMX/USD recorded the biggest loss.
The global crypto market cap rose to $1.12 trillion, recording a 24-hour gain of 2.8%. Bitcoin was up by 4.2% at $28,338 and Ethereum rose by approximately 2.5% to $1,730 on Monday.
Among the top ten crypto gainers over the past day were Bitcoin SV BSV/USD with a price of $37.34 and a 24-hour gain of 16.7%, THORChain RUNE/USD priced at $2.17 with a 12.2% gain, and eCash XEC/USD which gained 10.3% to reach a price of $0.00002757. Render RNDR/USD and Mantle MNT/USD also made significant gains at 7.6% and 6.5% respectively.
On the losing end, GMX GMX/USD saw a 24-hour drop of 4% to reach a price of $40.75, followed by Maker MKR/USD which dropped by 3.8% to $1,485.68 and Chainlink LINK/USD with a price drop of 2.3% to $7.93.
According to CoinStats, buyers are attempting to maintain their initiative with Bitcoin (BTC) being one of the biggest gainers today, rising by 4.22%. On the daily chart, the price of Bitcoin (BTC) has almost touched the resistance level of $28,757, a mark that plays a significant role in terms of a possible midterm rise.
Ethereum (ETH), although less of a gainer, went up by 1.82%. However, the rate of Ethereum (ETH) once again failed to fix above the $1,744 level. If today's bar closes in the red zone, there is a possibility of seeing a local correction.
XRP also saw an increase today, rising by 0.77%. From the technical point of view, the rate of XRP does not have enough momentum for a sharp move yet. However, if the rate remains above the $0.50 zone, growth may continue to the nearest resistance level of $0.5578 until mid-October.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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