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News recap: what awaits the crypto after market capitalisation growth
The unexpected rise of the crypto market has attracted the attention of investors. September ended with a 9.7% increase, which could signal positive momentum in the coming months. Read the news recap to learn about key events in the crypto industry and forecasts for the near future.
Crypto market in numbers
Since 4th September, the market capitalisation of cryptocurrencies has grown by 5.4%, reaching $2.13 trillion. Remarkably, the worst month for digital assets closed with a 9.7% increase. Historically, after September ends in the green, the entire following quarter tends to see cryptocurrency growth. Early October (historically the best month) has seen a correction of 5.3% from the local high.
Average daily trading volumes remained within their usual range. Since 4th September, volumes stood between $70 – $75 billion. Starting in October, average daily volumes increased by 56.9% to reach $117.1 billion – the highest since August of this year. Trading volumes are gradually returning to the market.
The cryptocurrency Fear & Greed Index was primarily in the “Fear” zone, with occasional moves into the “Neutral” and “Greed” zones. However, starting in October, the index dropped back into the “Fear” zone, reaching a level of 37 points.
Cryptocurrency volatility has significantly decreased. Since 4th September, the 30-day volatility index for BTC has dropped by 40.4% – from 3.04% to 1.81%. Similarly, ETH’s volatility has corrected by 46% – from 4.15% to 2.24%.
September 2024 turned out to be Bitcoin’s best month in over a decade, with a growth of 7.3%. Long-term holders are not only continuing to hold but are also accumulating the asset. Confidence in U.S. spot ETFs remains relatively strong. Notably, altcoins performed better in September, rising by 10.6%, although they lost almost all their gains at the beginning of October.
The recent sharp market decline was linked to geopolitical instability in the Middle East. In such moments, market participants tend to move capital into “safe” assets. The volatility of digital assets remains at low levels, suggesting potential for sharp movements in the mid-term. In the short term, there is a high probability of a local rebound from psychological support levels.
Gainers (1st – 30th September)
| Coin | Opening price 01.09, $ | Opening price 30.09, $ | Change |
| SUI | 0.85 | 1.79 | 111.2% |
| SHIB | 0.0000136 | 0.0000192 | 40.6% |
| PRQ | 0.08 | 0.11 | 33.0% |
| CHZ | 0.05 | 0.07 | 28.8% |
| UNI | 6.20 | 7.62 | 23.0% |
Losers (1st – 30th September)
| Coin | Opening price 01.09, $ | Opening price 30.09, $ | Change |
| ZEC | 34.86 | 29.99 | -14.0% |
| MKR | 1,887.72 | 1,685.25 | -10.7% |
| TRX | 0.17 | 0.16 | -7.1% |
| WAVES | 1.34 | 1.25 | -6.5% |
| USDC | 1.04 | 1.02 | -2.2% |
Easily track gainers and losers within the Simple Trade section on EXMO. Check real-time updates in the last 24 hours, week and month.
Most traded coins (1st – 30th September)
| Coin | Trading volumes, $ |
| USDT | 159,102,360 |
| BTC | 77,864,619 |
| SUI | 29,374,852 |
| DOGE | 26,166,314 |
| ETH | 25,685,217 |
| NEAR | 11,458,102 |
| TRX | 9,466,065 |
| LTC | 8,079,056 |
| XRP | 8,023,683 |
| SOL | 7,323,042 |
Top crypto market driving factors
Overall сrypto market
▼ 03.09.2024 – Santiment notes declining whale activity across the entire spectrum of cryptocurrencies since March.
▲ 04.09.2024 – According to Santiment, most altcoins are now in the oversold zone.
▲ 11.09.2024 – US consumer inflation is 2.5%. The crypto market reacted with growth.
▲ 18.09.2024 – JPMorgan Chase is one of the biggest users of blockchain. This was stated by its CEO, Jamie Dimon.
▲ 19.09.2024 – Bernstein analysts called stablecoins systemically important as the segment reaches record market capitalisation.
▼ 01.10.2024 – The escalating geopolitical situation in the Middle East collapsed the crypto market.
▼ 02.10.2024 – The total daily volume of liquidations in the crypto market was $554.7 million. $480.5 million of them were in long positions.
Bitcoin (BTC)
▲ 03.09.2024 – Greekslive experts note a sharp rise in bullish positions in bitcoin options, which historically is a bullish signal.
▼ 03.09.2024 – CryptoQuant records strong BTC inflows to exchanges, which may be a sign of increasing sales.
▲ 04.09.09.2024 – River Financial informs that various companies have increased their bitcoin holdings by 587% in the last four years.
▲ 09.09.2024 – According to CD, the order book suggests a high probability that bitcoin has reached a local bottom.
▲ 11.09.2024 – According to CryptoQuant, about 236,000 bitcoins have been withdrawn from cryptocurrency exchanges over the last two months.
▼ 26.09.2024 – Santiment reports that whales sold 20,000 bitcoins in 24 hours.
▲ 30.09.2024 – Experts from 10xResearch believe that bitcoin will update its ATH in Q4 2024.
▼ 02.10.2024 – Bitcoin miners generated a total income of $815.7 million in September, the lowest since the beginning of the year.
Ethereum (ETH)
▼ 03.09.2024 – According to Artemis, the yield of Ethereum network validators continues to decline. For example, it has sagged by more than 90% since the beginning of 2024.
▲ 04.09.2024 – According to Santiment, the number of non-zero ETH wallets has increased by 4 million units over the past three months.
▼ 06.09.09.2024 – According to CCData, ETH liquidity has decreased by 20% since the launch of spot ETH ETFs.
▼ 06.09.2024 – Glassnode data indicates that whales stopped accumulating ETH in early July. Since then, they have mostly been selling.
▼ 25.09.2024 – The SEC delayed the approval of spot ETH ETF options from Blackrock until 10th November.
▼ 02.10.2024 – An ICO-era Ethereum whale has transferred 21,490 ETH to an exchange over the past 7 days.
Ripple (XRP)
▲ 02.10.2024 – Bitwise has applied for the registration of a spot XRP ETF. The instrument has not been approved by regulators.
Solana (SOL)
▲ 11.09.2024 – According to Artemis Terminal, the Solana network recorded the highest daily number of active addresses in the history of blockchain technology, surpassing 5 million units.
▲ 19.09.2024 – Franklin Templeton plans to launch mutual funds on Solana.
Cardano (ADA)
▲ 04.09.2024 – The platform for creating meme coins, SnekFun, was launched on Cardano.
Toncoin (TON)
▲ 23.09.2024 – The number of monthly active wallets on TON broke the record and surpassed the 10 million mark.
TRON (TRX)
▲ 06.09.2024 – The TRON protocol has generated $1.57 billion in revenue over the past 365 days, a 115% increase compared to the previous year.
▲ 12.09.2024 – The TRON network now has approximately 90 million addresses owned by long-term TRX holders.
Sui (SUI)
▲ 12.09.2024 – Grayscale has launched a fund on SUI for qualified investors.
▲ 19.09.2024 – According to K33 Research, Sui’s technical capabilities and the upcoming release of its gaming console may eventually allow the network to compete with Solana.
EXMO.com news
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