Crypto Market RoundUp Sept 8: WLFI Token Surge, NILA Crashes 80%

Crypto Market News Today: Tether BTC Rumor News, Tom Lee SPAC IPO Plan

The global cryptocurrency market cap rose to $3.92 trillion, marking a +0.4% daily increase. Total trading activity across cryptocurrencies hit $81.2 billion in the past 24 hours. Bitcoin holds 56.3% dominance, while Ethereum captures 13.2%, tracking over 18,640 cryptocurrencies worldwide.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update Today

Bitcoin is trading at $110,860, up 0.5% in the last 24 hours, with a strong $22.96 billion trading volume. Its market cap now stands at $2.2 trillion, keeping it the leader of the crypto market and accounting for over half of total industry dominance.

Top 5 trending coins today: The trending coins are led by Somnia (SOMI), priced at $1.68 with a sharp 67.4% gain, with trades $925 million. MYX Finance (MYX) jumped 182.1% to $3.63 on $307 million traded. World Liberty Financial (WLFI Token) gained 4.2% to $0.2317 with $1.09 billion in volume.

Pudgy Penguins (PENGU) rose 6% to $0.0305 on $252 million activity, while OpenVPP (OVPP) slipped 8.5% to $0.0728 with just $317K traded.

Top 3 crypto gainers: The biggest movers today are MYX Finance (MYX) at $3.65, soaring 180% with a trading volume of $308 million, followed by Elastos (ELA) at $2.77, up 64% with $8.7 million traded, and Somnia (SOMI) at $1.68, rising 67.3% on $924 million volume.

Top 3 crypto losers: Among the hardest-hit tokens, MindWaveDAO (NILA) dropped 80.3% to $0.07699, with $736K in volume. Tsunami (TSUNAMI) declined 55.9%, trading at $0.1314 with $3.35 million in activity. Acet (ACT) followed, sliding 38.9% to $0.02659 on a modest $889K daily trading volume.

Stablecoins continue to maintain steady dominance with a market cap of $283 billion, showing 0.0% change in the past 24 hours. Their crucial role in liquidity and trading is evident from a massive $57.19 billion daily trading volume, underscoring their importance as a safe haven in volatile markets.

The Decentralized Finance (DeFi) sector has a market cap of $161 billion, showing a 1.1% increase during the past 24 hours. DeFi now accounts for 4.1% share of the world's crypto market with a healthy $4.98 billion trading volume, showing steady activity across decentralized platforms.

Fear and Greed Index Today

Source: Alternative.me

Latest Crypto Market News Today

Fundstrat co-founder Tom Lee is bringing his latest venture public. His SPAC, FutureCrest Acquisition, filed for a $250 million IPO with the SEC on September 5, seeking to trade under the ticker FCRSU. Backed by Lee's experience in fintech and cryptocurrencies, the Nasdaq-listed firm that deals in blank checks plans to focus on growth sectors such as AI, fintech, and digital assets.

Tether CEO Paolo Ardoino denied rumors that the company sold Bitcoin for gold, clarifying on X that the decrease in reported BTC holdings was due to allocations toward the XXI initiative. With more than 83,000 BTC as of Q2 2025, Tether is committed to reinvesting profits into Bitcoin, gold, and land, solidifying its bullish stance on Bitcoin.

Central banks around the world are scrambling to lower rates, with 88 cuts already this year (the fastest pace since 2020). The ECB, BOE, Canada, and Switzerland have all loosened, with the Swiss returning to 0%. Yet, the U.S. Federal Reserve is alone, holding steady with no Fed Rate cuts in 2025, keeping American policy on its own path.

Bitcoin may appear stagnant, but behind the scenes, institutions are quietly pushing Bitcoin's rise. Over 1M BTC (4.7% of supply) is now owned by the top 100 public companies, with global companies joining the party. Add the 1.62M held by ETFs and exchanges, and it's obvious: corporate accumulation is driving Bitcoin's $124K surge - the hint of even greater inflows ahead.

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