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• Stacks (STX) has gained 18.43% at this time to commerce at $0.5319 at press time.
• Toncoin (TON) has gained 15.51% at this time to commerce at $1.74 at press time
• Bitcoin Cash (BCH) had jumped by 12.33% to commerce at $216.57.

The cryptocurrency market has turned inexperienced at this time with a majority of the prime cryptocurrencies by market cap registering important value surges. Stacks (STX), Toncoin (TON), and Bitcoin Cash (BCH) have come out as the prime gainers as the global crypto market cap elevated by 4.35% to hit $1.09 trillion. 

But what’s making the crypto market surge? Well, let’s delve into the elements behind at this time’s crypto value surges.

Why is the crypto market rising at this time?

Today’s crypto market value surge coincides with Grayscale’s win against the US SEC in the Bitcoin ETF case.

The US Court of Appeals for the DC Circuit on August 29 dominated in favour of Grayscale in its long-running lawsuit towards the Securities & Exchange Commission.

The ruling was monumental for the crypto trade which has been agitating for SEC’s approval of Bitcoin ETFs. The ruling not solely paves the manner for the approval of the Bitcoin ETF petition filed by Grayscale but in addition for the BTC ETF purposes made by BlackRock and Fidelity.

After an extended consolidation of round $26k, Bitcoin price momentarily surged above $28k minutes after the court docket ruling on August 29. Although the value of BTC has since barely pulled again the bulls nonetheless appear to be squarely in management.

Ethereum (ETH), the second-largest cryptocurrency by market cap has additionally surged above $1,700 after staying under $1,700 for 2 straight weeks.