- Top crypto gainers: Bitcoin Cash led the rally with a 35% gain, while Bitcoin SV and LayerZero also posted double-digit increases.
- Bitcoin traded near $87,000 as the total crypto market capitalization climbed to around $2.93 trillion.
Bitcoin is holding near the $87,000 level as recovery continues across the cryptocurrency market, with several altcoins posting sharp gains. BTC reached an intraday high of about $87,265 on Sep. 23 and has remained around the $86,950 range since then. The wider crypto market briefly regained a $3 trillion valuation this week as Bitcoin and major altcoins moved higher.
Among the notable gainers, Bitcoin Cash (BCH), Bitcoin SV (BSV) and LayerZero (ZRO) have recorded strong moves, while Pudgy Penguins (PENGU) has also extended its recent rise.
Bitcoin Cash Gains as CME Plans BCH Futures
- Market cap: $7.15B
- Volume (24h): $1.57B
Bitcoin Cash has been one of the strongest large-cap movers. BCH is trading around $358, with CoinMarketCap data showing a gain of about 33.5% over the past 24 hours. The token closed September 22 at $345.04 after jumping 29.09% in a single session, compared with $267.29 the previous day. BCH also saw a sharp increase in trading activity, with trading volume jumping over 295% as the rally accelerated.
The move followed CME Group’s announcement that it plans to launch Bitcoin Cash futures on October 19, pending regulatory review. The planned contracts will include standard futures covering 250 BCH and Micro Bitcoin Cash futures covering 25 BCH. CME said the addition responds to client demand for regulated tools to manage exposure to high-liquidity crypto assets.
Bitcoin SV Extends Its Recent Recovery
- Market cap: $454.34M
- Volume (24h): $61.94M
Bitcoin SV has also moved higher, trading around $24 and gaining roughly 28.22% over the past 24 hours based on the latest CMC data. BSV has climbed from about $17.22 on September 20 to nearly $22, extending a recovery that has taken the token higher over the past week.
The latest move comes without a similarly clear fresh BSV-specific announcement, making the broader crypto rally and increased market activity the main backdrop for the price gain.
LayerZero Rallies as Institutional Stablecoin Use Expands
- Market cap: $546.67M
- Volume (24h): $173.01M
LayerZero’s ZRO token is trading above $1.46, up roughly 26.72% in 24 hours. The move follows a strong rise from about $1.18 on September 21. ZRO also saw strong trading activity, with its trading volume surging by more than 100%.
The move comes as Anchorage Digital selected LayerZero as its interoperability partner for stablecoin issuance. Tether’s USAT is the first Anchorage-issued stablecoin to use LayerZero’s Omnichain Fungible Token standard to support transfers across multiple blockchain networks. LayerZero said the standard supports transfers across 170+ blockchains and has processed about $280 billion.
PENGU Adds to the Meme and NFT Rally
- Market cap: $682.27M
- Volume (24h): $494.84M
Pudgy Penguins’ PENGU token is also moving higher. CoinMarketCap data shows PENGU around $0.01059, with its 24-hour gain over 22%. PENGU initially gained 14.32% on September 22 after rising 11.83% the previous day, taking the token from $0.00786 on September 20 to around $0.01.
Overall, the crypto market is showing broader participation beyond Bitcoin. Total crypto market capitalization recently moved back above $3 trillion, while Bitcoin remains the main driver of the recovery and altcoins are recording larger percentage gains.
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