Zcash, XRP and BNB Lead Crypto Market Rally as Bitcoin Gains

The crypto market climbed to $2.7 trillion as several major altcoins moved ahead of Bitcoin. Total market value increased 0.9% in 24 hours, with trading volume reaching $73.5 billion.

Zcash and XRP Outperform Bitcoin

Zcash gained 10.3% in 24 hours to $928, while XRP rose about 4.8% to $1.39. BNB also advanced 4.5% to $711.78. Bitcoin gained around 2%, trading near recent highs, while Ethereum added 1.9% to $2,426.89. Solana rose 3.8% to $101.47.

Inflation and Jobs Data Shape Crypto Outlook

Markets are also watching economic signals. Gold futures moved above $4,500 an ounce as inflation and higher oil prices increased concerns about purchasing power. Inflation has remained above the Federal Reserve’s 2% target for 65 months.

US jobless claims reached 206,000, while ADP payroll growth came in at 38,000. The weaker labor data has strengthened expectations for a potential Fed rate cut.

Bitcoin ETF Demand Remains Positive

US spot Bitcoin ETFs recorded $101 million in net inflows on September 2, led by BlackRock’s IBIT with $115 million. Meanwhile, spot Ether ETFs saw $48.08 million in outflows.

September remains a key test for Bitcoin, historically its weakest month, while October has typically delivered stronger returns.