The cryptocurrency market has seen sharp gains across major assets over the past 24 hours, APA-Economics reports.
According to the CoinMarketCap platform, Bitcoin rose by 4.53% over the past 24 hours to $81,039.86.
Ethereum gained 4.82% to $2,512.47, while BNB rose by 4.95% to $726.30. Zcash surged by 16.43% to $950.46, Bitcoin Cash increased by 3.83% to $256.62, and Bittensor gained 5.39% to $229.81. Meanwhile, Monero fell by 0.81% to $503.20.
Gold-backed cryptocurrencies also recorded gains. PAX Gold (PAXG) rose by 0.78% over the past 24 hours to $4,475.49, while Tether Gold (XAUT) increased by 0.87% to $4,466.09.
The CoinMarketCap 20 Index rose by 4.75% over the past 24 hours to 166.42 points.
The cryptocurrency market rally was supported by easing concerns that the Federal Reserve could raise interest rates in September. US Treasury yields declined and interest in risk assets increased after Fed official Christopher Waller said he could support keeping interest rates unchanged if inflation continues to ease.
Market participants are now focusing on upcoming US labor market data.
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