Crypto market cap rises 4% to $2.99 trillion as BCH and NEAR gain 34%

  • Bitcoin Cash gained 34% after CME announced October BCH perpetual futures plans.
  • NEAR Protocol rose 34% as a potential Bitwise spot NEAR ETF cleared hurdles.
  • Altcoin market capitalization increased from $1.25 trillion to roughly $1.3 trillion.

Total cryptocurrency market capitalization rose 4% from $2.87 trillion on Sept. 20 to $2.99 trillion, briefly surpassing $3 trillion before Bitcoin fell from above $87,000 to $84,000. Bitcoin still ended the week up 4%, while Bitcoin Cash (BCH) surged 34% after CME announced plans to launch a BCH perpetual futures contract in October. NEAR Protocol (NEAR) also gained 34% as reports said Bitwise's spot NEAR exchange-traded fund had cleared key regulatory hurdles and could launch around Sept. 29. Zcash, XRP, Solana, Dogecoin and Chainlink also posted double-digit gains, lifting total altcoin market capitalization to roughly $1.3 trillion. Analysts cited sustained bullish momentum and a greed reading on the Crypto Fear and Greed Index as potential support for another advance, which could erase Bitcoin's year-to-date losses and push leading altcoins to record highs.

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