Today on September 12, the cryptocurrency market saw a notable upward surge, sparking excitement among investors worldwide. Bitcoin reclaimed its position above $58K, with Ethereum, Solana, and XRP also showing strong performance in the green zone. The total market cap increased by 1.38% to $2.04 trillion, while the total market volume surged by 18.90% to $72.25 billion.
Various top cryptocurrencies by market cap experienced positive price movements on this day, indicating an optimistic trend in the market. Bitcoin surpassed the $58K mark, while Ethereum and Solana recorded gains close to 1%. XRP also showed marginal increases, with SUI emerging as one of the top gainers for the day.
Bitcoin’s price witnessed a 2.5% increase over the past 24 hours, reaching $58,258. Despite significant outflows in Bitcoin ETFs, investor sentiment remained positive. Additionally, dwindling Bitcoin reserves on exchanges hinted at potential future price uptrends. Bitcoin’s dominance increased to 56.19%, with a market cap of $1.15 trillion.
Ethereum’s price also rose by nearly 1% to $2,370, despite outflows in ETH ETFs and reports of substantial ETH dumps to exchanges. The coin’s market cap stood at $285.23 billion. Solana saw a 1.5% increase, trading at $135.72, with a market cap of $63.51 billion. XRP’s price increased by 0.7% to $0.5374, with market analysts warning of potential bearish pressure.
Among meme coins, Dogecoin gained 1% to reach $0.1024, while Shiba Inu rose by 0.6% to $0.0000134. PEPE and FLOKI also noted minor gains of around 1%.
In terms of top gainers, SUI surged by 13%, trading at $1.01, followed by BinaryX with a 7% increase to $1.58 and MANTRA rising by 7% to $1.10. Conversely, Notcoin, Dogwifhat, and Worldcoin experienced losses of 3%, 3%, and 2.5%, respectively.
Overall, the cryptocurrency market showed positive trends with hourly price increases for Bitcoin and Ethereum, creating a sense of optimism among market participants.