Crypto Market Declines as Bitcoin Falls Below $78,000
The crypto market took a hit on September 8, with most major coins experiencing declines. Bitcoin led the pack, falling from $79,700 to $78,300 in a single day, representing a 1.61% drop in value over 24 hours.
Ethereum also suffered losses, dropping by 1.42%, while its market capitalization was under pressure along with other top coins and tokens. Zcash fell the most among them, losing 6.77% of its value, followed closely by Canton and Hyperliquid, which dropped by 4.94% and 3.31%, respectively.
However, not all assets experienced a downturn. Chainlink bucked the trend, gaining 6.14%, while Avalanche rose by 1.75% and Sui strengthened by 1.33%. The market's overall sentiment is reflected in the Fear and Greed Index, which fell to 69 points but remains firmly in the greed zone.
In related news, the Ethereum Foundation announced its plans for the Hegotá upgrade, a major update aimed at protecting the network from quantum attacks by 2029. The foundation evaluated 62 EIP proposals and selected those that will be included in the upgrade, prioritizing security and resilience over speed and convenience.