Pepe extends gains as crypto market cap returns to $3T

AI Market Summary

Total crypto market capitalization reaching $3T for the first time in eight months signals renewed risk appetite and broad-based inflows. The rally is being led by memecoins (PEPE up sharply) alongside strength in NEAR and other high-beta tokens, while a Fear and Greed reading near 80 indicates crowded bullish positioning. Near term, momentum and volatility may stay elevated as traders rotate into higher-risk segments.

Impact level

● Medium

Affected assets

NEAR/USDT+5.20%

AI Insight · NEAR/USDTAI Insight

▲ Bullish

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The total cryptocurrency market cap climbed back to $3 trillion on Thursday, reaching the milestone for the first time in eight months. $PEPE is driving the move, up more than 15% over the past 24 hours and nearly 50% over the last week. Other tokens posting sharp gains include Near Protocol's $NEAR, $TAO, and @pudgypenguins' solana:2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv. Sentiment has also strengthened, with CoinMarketCap's Fear and Greed Index hovering near 80.

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