Ether and XRP Rise as Total Crypto Market Cap Increases 3%
Global risk appetite improved, with crypto, equities, and gold futures rising, while oil faced its largest weekly drop since June. Traders are navigating eased U.S.–Japan trade tensions against decreasing bitcoin demand and increased hedging in crypto options.
- The MSCI Asia Pacific Index increased by 0.5%, marking five consecutive days of gains.
- Japan's Nikkei-225 surged 2.3% following U.S. tariff negotiations.
- Oil prices fell over 4% due to rising U.S. inventories and weak Chinese import data.
- Total crypto market cap rose 3% to $3.76 trillion, led by altcoins.
- Major price changes include Ether at $3,935 (+7.3%), XRP at $3.36 (+12%), Solana at $175.19 (+4.7%), and dogecoin at $0.22 (+8.8%).
- Bitcoin increased by 1.9% to $116,781, with a daily trading volume of $38.8 billion.
- Market sentiment for BTC shifted from “euphoria” to “cooling off,” with ETF inflows down nearly 25% and reduced transaction fees.
- Options data indicates heightened hedging for BTC below $100,000 through late August.