The crypto market displayed mixed results as Bitcoin remained steady above $62,000. According to CryptoRank, a research and analytics platform, the total market capitalization reached $2.28 trillion, a slight drop of 0.10%. Bitcoin’s dominance also saw a rise, increasing by 0.42% to 53.80%. Meanwhile, the Fear & Greed Index stood at 49, indicating fear among investors.
📈Market Overview#Bitcoin trades above $62K. The top-10 cryptos are traded in different directions:$TRX +2.97%$BNB +2.65%$SOL -0.51%
Market capitalization: $2.28T (-0.10%)
The #BTC dominance: 53.80% (+0.42%)
Fear & Greed Index: 49 (Fear)👉 Top Gainers
STFX $STFX +128%… pic.twitter.com/segSl5Xw42
— CryptoRank.io (@CryptoRank_io) October 9, 2024
The top 10 cryptocurrencies moved in various directions. Tron (TRX) saw a gain of 2.97%, reflecting positive momentum. Binance Coin (BNB) followed with a rise of 2.65%. On the other hand, Solana (SOL) experienced a small drop of 0.51%. The market performance of these major cryptocurrencies highlighted diverse reactions from investors.
Bitcoin, however, continues to dominate. Its share of the total market climbed to 53.80%. This shows that traders maintain a strong focus on Bitcoin. Other major coins saw varied outcomes based on market trends.
Analyst Forecasts Bitcoin to Reach $124K in 2024-2026 Cycle
Smaller Cap Tokens’ Surge
Smaller cap tokens recorded notable gains. STFX led the top gainers with a 128% surge. Sillynubcat (NUB) increased by 67.5%, while Real Smurf Cat (SMURFCAT) rose by 47.4%. Other tokens like SmartAI (SMARTAI) and Joe Coin (JOE) also saw increases, gaining 35.5% and 34.4%, respectively. These movements reflected increased interest in lower market cap assets.
These mixed results further emphasized that the crypto world is divided between large and small tokens. As usual, there have been high flyers in this regard, while others have lagged well behind. Data however show that Bitcoin was still a dominant part of the market despite the presence of other digital currencies.
