The global cryptocurrency market has taken a slight hit, with market capitalization down 1.8% in the past 24 hours, now standing at $2.37 trillion. Trading volume spiked to $103 billion, indicating increased market activity.
Among the top 100 coins, Popcat (POPCAT) led the charge, gaining 11.5% to $1.04, marking the only double-digit increase. Close behind was Dogwifhat (WIF), up 9.1% to $2.57. On the downside, Celestia (TIA) saw the largest drop, falling 5% to $5.67.
In the top 10 cryptocurrencies by market cap, XRP (XRP) and Dogecoin (DOGE) were the hardest hit, dropping 3.8% and 2.75% respectively. Bitcoin (BTC) remains stable at $63,931 with only a minor drop, while Ethereum (ETH) edged up slightly by 0.3%, trading at $2,642.
As October begins, BTC is testing the 38.2% Fibonacci level, signaling potential volatility. However, the market may see an uptrend if key resistance levels are broken.
In other crypto news, EigenLayer has unlocked its native token, EIGEN, allowing it to be traded, transferred, or staked. This decentralized restaking protocol, which enhances blockchain security, saw its token listed on Bitfinex with trading pairs available in USD and USDT. EigenLayer’s total value locked has surpassed $20 billion, following a $170 million venture capital raise in February.
Meanwhile, USDC issuer Circle is expanding into the Asia Pacific region, partnering with MHC Digital Group. This initiative aims to increase USDC distribution, particularly in Australia, and further develop institutional use cases for the stablecoin.
In security news, Ripple-backed Palisade has teamed up with blockchain cybersecurity platform Circuit to bolster digital asset protection for its clients. This partnership will offer advanced security solutions, including disaster recovery and private key management.
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