Crypto market cap tops $3 trillion as Bitcoin and altcoins rally
The cryptocurrency market capitalization briefly climbed back above $3 trillion on September 22 as Bitcoin and major altcoins extended their rally. The world's largest cryptocurrency traded near $86,000, gaining around 4.5% over the past 24 hours.
According to CoinGecko, the total value of digital assets stood at around $3.019 trillion at the time of writing. Gains were seen across most major cryptocurrencies.
Cryptocurrency market capitalization. Source: CoinGecko
Ethereum rose 2.3% to $2,745, XRP gained 5.7% to $1.53, while Solana climbed 3.6% to $117. BNB added 1.6%, while Dogecoin was among the strongest performers among major assets, rising around 11%.
Open interest approaches $160 billion
Derivatives market activity increased alongside prices. According to Bloomberg, open interest in cryptocurrency perpetual futures approached $160 billion, its highest level since late October 2025.
Rising leverage points to increased speculative activity while also making the market more sensitive to sharp price moves. More than $920 million in bearish positions were liquidated during Monday's rally.
The market received additional support from capital inflows into U.S. spot Bitcoin ETFs. The funds attracted nearly $1 billion on Monday, their largest single-day net inflow since October 2025.
Bitcoin broke through $84,000 and $86,000 a day earlier, accelerating the closure of short positions. However, the high level of open interest means leverage could amplify market moves not only if prices continue rising but also in the event of a correction.
Some altcoins post double-digit gains
Among smaller assets, AKE, the token of gaming AI platform Akedo, emerged as one of the week's top performers. It gained around 170% over seven days, bringing its market capitalization to approximately $1.2 billion.
AKE reached an all-time high of $0.1467 on Sunday before losing more than 60% from its peak. The token recorded around $108.9 million in trading volume over the past 24 hours.
Amid the broader rally, Bitcoin Cash surged more than 19%. The move followed Grayscale's SEC filing to convert its Bitcoin Cash Trust into a spot ETF and CME Group's announcement of plans to launch BCH futures, subject to regulatory review.
Earlier, we reported that CME Group plans to launch Bitcoin Cash and Uniswap futures as part of an expansion of its cryptocurrency derivatives lineup. The new contracts are expected to launch following regulatory review.
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