Crypto Price Surge: ETH Rises, Bitcoin Nears $100K and SUI Gains 12%

Today, the cryptocurrency market displayed significant activity with Ethereum leading the way upwards. Bitcoin is close to breaking $100K, having surged to around $99K, while SUI saw an impressive 12% increase. This optimism follows the FOMC’s decision to keep interest rates steady amidst economic uncertainties. Overall, market capitalisation now stands at roughly $3.09 trillion, reflecting a 3.01% rise in the last 24 hours.

On May 8, 2025, the cryptocurrency market witnessed notable fluctuations, marked by Ethereum (ETH) taking the lead amidst a wave of market optimism. Increased activity from whales has contributed to this bullish trend, with Bitcoin trading at approximately $99K and positioning itself to break the crucial $100K threshold. SUI has emerged as a standout performer, boasting a remarkable 12% increase in the past 24 hours.

Market sentiment today seems to bounce between caution and optimism, largely influenced by the latest Federal Open Market Committee (FOMC) gathering held on May 7. During this meeting, the FOMC maintained interest rates at 4.25%–4.5%, with Chair Jerome Powell highlighting the need for a data-driven strategy in a climate marked by trade-related economic uncertainties and concerns surrounding rising unemployment and inflation.

In this renewed rally, Bitcoin’s price is eyeing the elusive $100K mark once more, currently sitting around $99,400. Experts note that the recent surge appears primarily influenced by macroeconomic factors. Some analysts remain bullish, envisioning Bitcoin potentially bouncing back to around $109,000 by June 2025. Despite a 3.7% market-wide drop recently, Bitcoin’s resilience exhibits a promising upward trend as investor sentiment seems to be regaining stability.

When it comes to other altcoins, Ethereum stands out again, with a price increase exceeding 7% today. Following suit, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have recorded gains close to 6%. Meanwhile, XRP has lagged behind, recording only a 3% increase, the lowest among major altcoins.

Sui (SUI) has attracted attention thanks to its impressive performance, leaping 12% in price and outperforming the broader market. Its trading volume has surged nearly 45% to reach $2.17 billion within the last day—an indicator of heightened trading activity. Other notable gainers today include PENGU, which has skyrocketed over 25%, along with EOS, BRETT, VIRTUAL, ENA, all boasting gains ranging up to 18%.

On the downside, while most major cryptocurrencies have held relatively stable, FORM has experienced a minor decline of 3% in the past 24 hours.

When looking at the top trending cryptocurrencies today, it’s clear that BTC, SOL, ETH, Pi Coin, and XRP remain at the forefront of traders’ interests. As for the top gainers, PENGU leads with a whopping +25%, whereas EOS follows with +18%. Other notable performers include BRETT at +17% and both VIRTUAL and ENA, each at +15%. On the losing side, FORM is down -3%, with DEXE trailing at -2%, while XAUt and PAXG each see a decline of -1%.

As of today, the total global cryptocurrency market capitalization has reached approximately $3.09 trillion—a 3.01% rise over the past 24 hours, according to CoinMarketCap. With these shifts and developments, the market remains a focal point for investors eagerly eyeing potential opportunities.