24 Hours Crypto Market Update: Top Gainers DoubleZero, Zcash, ENA

Crypto Market Update: Binance, Coinbase, Robinhood & TAO halving news

Overall Crypto Market Update:

• The global cryptocurrency market cap stands at $3.18 trillion, reflecting a 1.2% increase in the past 24 hours.

• Total crypto 24-hour trading volume is $110 billion.

• Bitcoin dominates 57.1% of the market, while Ethereum holds 11.8%.

• CoinGecko is currently tracking 19,224 cryptocurrencies.

• The largest gainers right now are tokens from the Polkadot Ecosystem and the XRP Ledger Ecosystem.

Major Crypto Events Today

Source: Forex Factory

24 Hour Crypto Market Update

Bitcoin (BTC) and Ethereum (ETH) Price:

• Bitcoin (BTC) is trading at $91,064.32, up 1.8% in the last 24 hours, with a trading volume of $37.95 billion and a market cap of $1.81 trillion.

• Ethereum (ETH) is priced at $3,101.66, rising 1.8% in 24 hours with a trading volume of $23.11 billion and a market cap of $374.41 billion.

Top 5 Trending Coins in 24 Hours:

• Bitcoin (BTC) is priced at $91,193.74, showing a 1.97% gain with a trading volume of $51.3B.

• Yooldo (ESPORTS) is trading at $0.3944, down 0.94%, and has a 24-hour volume of $195.9M.

• Ethereum (ETH) is valued at $3,099.67, up 1.79%, with a trading volume of $22.51B.

• XRP (XRP) is priced at $2.06, reflecting a 1.08% increase, and a trading volume of $3.05B.

• DeMCP (DMCP) is trading at $0.0001068, up 14.39% in the last 24 hours, with a modest 24-hour volume of $14.39K.

Top 3 Gainers:

• DoubleZero (2Z) is trading at $0.1418, gaining 9.80% today, with a TV of approximately $78.7 million.

• Zcash (ZEC) is priced at $349.44, up 4.33%, and has a TV of around $732 million.

• Ethena (ENA) is currently $0.2719, increasing by 3.94%, with a TV of about $244 million.

Top 3 Losers:

• BONK (Bonk) is priced at $0.059215, down 5.08%, with a trading volume of around $96.2 million.

• IP (Story) is trading at $2.10, down 4.99%, and has a trading volume of approximately $32.5 million.

• Monero (XMR) is valued at $369.55, showing a 4.96% loss, with a trading volume of about $136.4 million.

Stablecoins and Defi Update:

• Stablecoins recorded no change in the past 24 hours, with a market cap of $312.43 billion and trading volume of $75.06 billion.

• The Decentralized Finance (DeFi) market rose 0.5% in the last 24 hours, reaching a market cap of $111.94 billion, while total value locked (TVL) stands at $5.16 billion.

Fear and Greed Index Today

Source: Alternative Me

Today’s Fear & Greed Index shows Extreme Fear at 20, unchanged from yesterday. This reflects continued market panic driven by weak sentiment, recent price volatility, and low trading confidence. Investors remain cautious, keeping fear levels persistently high across daily, weekly, and monthly readings.

Latest Cryptocurrency Market News Today, December 8

1. Farcaster Shifts Strategy to Wallet-First Growth

Farcaster co-founder Dan Romero announced a shift from its social-first model to a wallet-driven strategy, after finding stronger product-market fit in its fast-growing in-app wallet to boost network adoption.

2. Coinbase Reopens India Access Ahead of 2026 Fiat On-Ramp

Coinbase has reopened registrations for Indian users and plans a 2026 fiat on-ramp, enabling direct crypto purchases. The exchange exited in 2023 after UPI restrictions halted its earlier 2022 launch.

3. ZKsync to Retire Its Old Lite Network in 2026

ZKsync will retire its Lite network in 2026, saying it has fulfilled its purpose. Other systems remain unaffected. Around $50 million stays bridged, with L1 withdrawals operating normally and migration details coming next year.

4. US Markets May Shift to Blockchain Soon

SEC Chair Paul Atkins expects all U.S. financial markets to move to blockchain within two years, saying digital assets and tokenization will boost transparency, efficiency, and overall risk management.

5. Only Four L1 Tokens Shine in 2025

Crypto Koryo reports only four Layer-1 tokens gaining this year—BCH, BNB, HYPE, and TRX. BCH leads with 40% growth, driven by full supply, no VC pressure, and rising ETF speculation.

6. Binance Updates Proof of Reserves for December

Binance released its 37th Proof of Reserves on Dec. 1, showing a 4% rise in user BTC holdings, while ETH and USDT balances dipped slightly compared to November.

7. Robinhood Enters Indonesia With Two Major Acquisitions

Robinhood will enter Indonesia by acquiring Buana Capital Sekuritas and crypto trader Pedagang Aset Kripto. The deal closes in early 2026, with shareholder Pieter Tanuri continuing as a strategic advisor.

8. Crypto Treasury Stocks Crash in 2025

Crypto asset treasury companies in the US and Canada have seen stock prices plunge, with a median 43% decline. Heavy debt, no income from token holdings, and shifting investor sentiment drive the crash.

9. Fed Decision in Focus as Global Central Bank Signals Shift

A weaker U.S. ADP data and easing core PCE. Markets now watch the Federal reserve December rate decision and key speeches from Hassett and Japan’s Ueda.

10. Bittensor Set for First TAO Token Halving

Bittensor will hold its first TAO halving on December 14, cutting daily issuance to 3,600. With a Bitcoin-like 21M cap, analysts say it signals maturity as key AI subnets expand.

CoinGabbar’s Opinion

Based on today’s crypto update, investors should remain cautious. While Bitcoin and Ethereum show modest gains and select tokens like DeMCP and 2Z are surging, the Fear & Greed Index signals extreme fear, and overall sentiment remains weak. The volatility is high, making short-term investments risky, though long-term opportunities may exist for disciplined, informed investors.

Disclaimer: This is not financial advice. Please DYOR before investing. CoinGabbar is not responsible for any financial losses.