Crypto Market Shows Strength
🗓️ Cryptos | August 28, 2025 | 09:29 GMT
🔍 Market Overview The global cryptocurrency market cap rose by 1.6% over the past 24 hours, reaching $3.92 trillion and extending its recovery for the second consecutive day. Bitcoin (BTC) slightly outperformed the broader market with a 2.2% gain, although it still trailed behind Solana (SOL), which surged 5.1%.
Despite these moves, Cronos (CRO) has dominated headlines, posting a staggering 55% gain in the last 24 hours and 137% over the past week, outshining all major coins.
Bitcoin is now printing its third consecutive green daily candle, trading above $113,000 on Thursday morning. The recent dip to $110,000 appears to have reignited buying interest, while the simultaneous rise in altcoins and stock indices has fueled a broader appetite for risk.
Solana climbed to $215, marking an 18% increase since Tuesday and reaching its highest level since early February. Technically, SOL has held above its 50-day moving average and continues to post higher local highs, reinforcing its bullish trend.
📰 News Background Amid recent sell-offs, Binance has seen a significant influx of capital. According to CryptoQuant, $1.65 billion in stablecoins has been deposited on the exchange. Historically, large stablecoin inflows often precede increased demand for cryptocurrencies.
However, 10x Research estimates the probability of Bitcoin reaching $140,000 by year-end at just 54%. This cautious outlook stems from slowing institutional inflows, heavy miner sell-offs, and Bitcoin’s seasonal weakness in Q3.
BlackRock CEO Larry Fink referred to Bitcoin as a “currency of fear” and digital gold, emphasizing its role as a store of value during economic uncertainty.
Meanwhile, Standard Chartered maintains a bullish stance on Ethereum (ETH), stating that ETH and ETH-holding companies are currently undervalued. The bank forecasts Ethereum to reach $7,500 by the end of 2025 and $25,000 by 2028.