Cryptocurrency Update: The global cryptocurrency market has bounced back after declining for a day yesterday, with major crypto coins shedding value amid a number of reasons. On Friday, February 3, the global crypto market was trading in green, in a good news for investors as all major coins rose significantly over the day. The market was seemingly stabilising at this point, after declining constantly for weeks following the meeting of the US Federal Reserve, where it had indicated a hike in interest rates to take on inflation.
The cryptocurrency market cap was standing at $1.76 trillion, according to data from global crypto tracking website CoinMarketCap. This was up by 5.01 per cent over the last 24 hours. The The global crypto volume however fell slightly over the past day as more traders held their coins. The total volume of traded coins amounted to $68.74 billion over the course of the last day. This has fallen by 6.14 per cent over the last 24 hours, said data on the website.
Bitcoin on the day saw a gain, with its value nearing the $38,000 mark as per data. At the time of writing this article, Bitcoin prices stood at $37,957.51 according to CoinMarketCap. This was up by 3.58 per cent over the last 24 hours and 4.11 per cent up over the last seven days as per data.
“The global crypto market cap has decreased a bit from yesterday. Bitcoin and Ethereum dipped by nearly 2 per cent each in the past 24 hours. BTC and ETH are trading below US$37,000 and US$2,700. Bitcoin dominance is currently 41 per cent in the market. The crypto market has faced heavy selling pressure putting an end to the two-day winning streak. The BTC support is at US$35,000. The BTC is trading sideways, likely to persist for a few more days. While coming to other altcoins, they are running a bit in red. If buyers can move above US$40,000 to reverse this ongoing downward trend,” said Edul Patel, CEO and co-founder of Mudrex.
Dogecolony became the top gainer in the crypto pack on Thursday. Over the last 24 hours, the value of one coin increased by 504.36 per cent. One token was priced at $0.000005483, as per data from CoinMarketCap. MetaPay and The Neko were the other two gainers who occupied the next top spots on the day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Dogecolony: $0.000005483 – up by 504.36 per cent
MetaPay: $0.000001921 – up by 500.11 per cent
The Neko: $0.0001664 – up by 411.43 per cent
Bird Token: $0.00000002205 – up by 394.22 per cent
Stobox Token: $0.02431 – up by 314.92 per cent
Qrkita Token: $0.000006873 – up by 298.08 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Vive La Bouje: $35.54 – down by 90.39 per cent
PAPPAY: $0.00000007615 – down by 85.59 per cent
TigerInu2022: $0.00002672 – down by 84.80 per cent
Doge Rise Up: $0.00000000004891 – down by 76.78 per cent
MetaMaps: $0.0001014 – down by 75.84 per cent
Snowtomb LOT: $202.35 – down by 62.36 per cent
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