What happened?
The cryptocurrency market experienced a small increase, with 90 of the top 100 coins in the green over the past 24 hours. The total market capitalization of cryptocurrencies increased by 0.5% to reach $3.89 trillion. Nine of the top ten coins appreciated, BTC rising 2% to $110,245 and ETH increasing 0.3% to $4,399. However, World Liberty Financial (WLFI) suffered a significant loss on its first day of trading.
Who does this affect?
This change in the crypto market affects investors and traders involved in the top 100 coins. Those who invested in BTC and ETH, among others, would have seen a slight appreciation in their holdings. On the other hand, investors in World Liberty Financial (WLFI) suffered immediate losses due to the coin’s poor performance on its trading debut.
Why does this matter?
This matters because the overall increase in the cryptocurrency market could indicate positive momentum as we move into September. The rise in the top coins, notably BTC and ETH, contributes to the market capitalization. However, sentiments remain within the fear zone which could continue to push prices down. Moreover, volatility remains key in this market, as seen by WLFI’s sharp decline. This volatility signals potential risks and rewards within the market.