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Crypto Assets Bounce Back Above $70 Billion Amid Day of Gains
The crypto markets saw notable gains yesterday after a weekend in which prices dropped across the asset class.
By Pete Rizzo
Updated Sep 11, 2021, 1:32 p.m. Published Jul 17, 2017, 1:30 p.m.
After a daunting weekend in which the value of cryptocurrencies cratered to levels not seen in months, 48 of the top 50 tokens are posting press-time gains.
In total, the value of all publicly traded crypto assets edged over $70bn today, up nearly $10bn from a low of $61bn observed yesterday. At publication, all of the top 10 cryptocurrencies were in the green, with IOTA, ether and stratis posting the biggest gains.
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Overall, the price movements are the latest that add context to the still-unanswered question of whether the cryptocurrency asset class is in the midst of a "correction" after setting a new all-time high of $115bn in June. Even with the reversal, the market is still down just 40% from figures observed at that time, according to data from Coinmarketcap.
Yet, after winning mainstream press coverage and magazine covers, it appears that mainstream interest in new cryptographic assets may be waning.
Data from Google Trends shows search terms for "ethereum," "bitcoin" and "ICO" were also down from highs observed in mid-June, indicating a possible fatigue in the market among more casual buyers.
As such, it remains unclear whether today's upwards movements will be enough to jumpstart a significant rally, or how stable prices will remain given potential challenges ahead for bitcoin and ether, historically the industry's two most visible assets.
Rackets in the sand image via Shutterstock
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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