- Major altcoins, including Dogecoin and Solana, posted sharp gains, while BNB reached a record high price.
- The price increases followed strong performances from Bitcoin and Ethereum, both hitting monthly highs.
- Optimism has grown among investors as expectations rise for a potential interest rate cut by the U.S. Federal Reserve next week.
- Positive investment flows into spot Bitcoin and Ethereum ETFs have contributed to the boost in crypto markets.
- Gemini began trading on the Nasdaq, joining several crypto firms with recent public debuts.
On Friday afternoon in New York, prices for several leading cryptocurrencies surged as BNB hit a new record, and other major altcoins also rose sharply. This increase followed a week of gains for Bitcoin and Ethereum, both reaching their highest prices so far in September.
According to data from CoinGecko, BNB climbed above $926, marking an all-time high. Over the last day, it increased by 3%, and in the past week, it jumped by nearly 9%. BNB has surged by 70% in the last year, with several new peaks reached in 2025 after breaking the $800 level earlier this year.
Elsewhere, Dogecoin traded above $0.27, up more than 8% on the day and 25% for the week. This occurred even though trading for the first U.S. Dogecoin ETF, Rex-Osprey’s Doge ETF, was temporarily halted until next week. Solana, the fifth-largest crypto asset, reached its highest value since January, priced at $240 after a 6% daily jump.
Market analysts cited the momentum coming from strong inflows into spot Bitcoin and Ethereum exchange-traded funds (ETFs), which allow investors to gain exposure to these digital assets through the stock market. Bitcoin reached $116,331, and Ethereum climbed to $4,675 as U.S. investors increased their participation in these ETFs.
A positive economic outlook further supported sentiment. Data released this week showed slowing inflation in the United States, heightening expectations that the Federal Reserve may lower interest rates soon—a move that typically benefits cryptocurrencies.
In addition, Gemini, a major cryptocurrency exchange, started trading on the Nasdaq with an estimated valuation of $4.4 billion. Its stock opened at $37.01 per share, a 32% increase from its IPO price, before closing the day at $32. Other crypto companies including stablecoin provider Circle, exchange Bullish, and broker EToro have also recently gone public.
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