Bitcoin’s Longest Rally in 5 Months, Ether Up, XRP Jumps 19%; Know Rates
Cryptocurrency prices continued to climb for second consecutive session after Bitcoin rose to a four-week high in the previous day’s trading session. The world’s most popular cryptocurrency, Bitcoin, has broken above the USD 44,000-mark as the global crypto market by and large was trading in green.
Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization also surged over 4 per cent to $3,143. It dropped to a six-month trough in late January, but since then, ether, the token used for the Ethereum blockchain, has surged about 48 per cent . Similarly, Binance Coin rose about 4 per cent to $434.
Dogecoin price gained over 5 per cent to $0.16 whereas Shiba Inu skyrocketed over 12 per cent to $0.000033. The performance of other coins also improved as XRP surged 24 per cent while Stellar, Avalanche, Cardano, Polygon, Terra, Polkadot, Solana prices were trading with gains in the range of 5-11 per cent over the last 24 hours.
“The total crypto market volume rose over 47 per cent in the past 24 hours. Bitcoin and Ethereum are trading in the green for another consecutive day above USD44,000 and USD3,000 levels. BTC’s resistance lies between USD45,000 to USD47,000, and support holds at USD40,000. BTC broke a downward trend that was running in the past two months. Seeing the recent bounce, the surge in BTC’s price has become less bearish,” said Edul Patel, CEO and Co-founder of Mudrex.
According to the market cap, the other top cryptocurrencies are also running in green. XRP, Polygon, Shiba Inu, and Gala have gained more than decent growth over the previous day, Edul Patel said.
Valkyrie Capital’s Bitcoin Mining ETF focused on renewable energy has been approved by the US Securities and Exchange Commission, and it’s set to go live Tuesday on the Nasdaq under the ticker “WGMI”—a crypto community acronym for “We’re gonna make it”. The Valkyrie Bitcoin Mining ETF primarily is focused on companies that use at least 77% renewable energy.
Also, KPMG Canada announced it has directly invested in Bitcoin and Ethereum—the two largest cryptocurrencies by market cap. The move is the latest among a growing trend of large institutional players to add cryptocurrency to their balance sheets, including MicroStrategy, Square, and Tesla.
Here are the top 10 cryptocurrencies and their prices on February 8, 2022 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $44,807.94 or 4.90 per cent gain in the last 24 hours
Ethereum $3,183.35 or 3.14 per cent gain in the last 24 hours
Cardano $1.23 or 5.44 per cent gain in the last 24 hours
Tether $1.00 or 0.00 per cent loss in the last 24 hours
Terra $58.64 or 0.58 per cent gain in the last 24 hours
XRP $0.8902 or 98.02 per cent gain in the last 24 hours
Solana $117.92 or 0.19 per cent loss in the last 24 hours
Avalanche $81.59 or 4.24 per cent gain in the last 24 hours
Binance $1.00 or 0.04 per cent gain in the last 24 hours
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