Crypto Market Surges 1.1% to $2.99 Trillion as IMF Approves El Salvador Waiver
Crypto market capitalization rose 1.1% to $2.99 trillion on October 2, with Bitcoin up 1.2% to $84,521.71 and Ethereum up 0.6% to $2,698.93. The Fear and Greed Index fell to 72, indicating greed, from 74 on October 1. Osmosis plans to burn 17.4 million OSMO, a 65% increase in total burned supply, according to on-chain proposals. The IMF approved a waiver for El Salvador's Bitcoin accumulation breach and released $139 million, but the country must stop buying Bitcoin and reduce state crypto involvement.
The largest gainers in the industry over the past day are Lending/Borrowing Protocols and Synthetic Dollar Cryptocurrencies. Revenue Family surged 434.2% to $0.02219, with $159.64 million in trading volume, while Super Cat skyrocketed 1,052.2% to $0.02246, with $129.87 million in trading volume. The SEC proposed custody rules allowing investment advisers and funds to hold crypto assets, including limited self-custody and state trust companies as custodians.