Cryptocurrency Update: Bitcoin crossed the $44,000 mark on Tuesday, February 8 in a dramatic comeback as it displayed its longest rally in five months. However, naturally the coin still remains volatile, as the global cryptocurrency market continues its upward move for another day, touching the $2 trillion mark. After weeks of steady declines following the US Federal Reserve meeting, the market seemed stable to the point where it signaled a hike in interest rates to pick up on inflation.
According to data from global crypto tracking website CoinMarketCap, the cryptocurrency market cap stood at $2.00 trillion. It was 2.12 per cent higher in the last 24 hours. Global crypto volumes also rose slightly in the past days. The total volume of coins traded during the previous day was $87.73 billion. According to website data, it has declined 44.14 per cent in the last 24 hours.
The day saw a sharp rise in bitcoin, whose value crossed the $44,000 mark as per the data. At the time of writing this article, the price of bitcoin is $43,872.91 . Was
According to CoinMarketCap. It was 2.77 per cent higher in the last 24 hours. Ether price also gained 0.91 percent during the past day and stood at $3,104.26 at the time of writing this article.
Meanwhile, a group of major cryptocurrency firms including Coinbase, Circle, Anchorage Digital and Huobi Global are forming a new alliance aimed at cracking down on market manipulation in an effort to instill confidence in the fast-growing digital asset industry, Reuters told.
The Crypto Market Integrity Coalition, which was called by risk-monitoring software company Solidus Labs, is also urging digital currency companies to sign a “market integrity” pledge that acknowledges the potential for fraud in the cryptocurrency space and the industry’s potential. Recognizes the need for security. investors, the report said.
“In a progressive step toward building trust in the digital asset industry, the launch of the Crypto Market Integrity Alliance brings some of the most prominent companies to the forefront of the crypto sector, vowing to protect investors and champion market integrity. The industry is ready for stricter regulatory scrutiny following new proposed regulations from the US Securities and Exchange Commission that could rein in digital asset exchanges,” said the CoinDCX research team.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
SWAK: $0.001731 – up to 2,072.96 percent
Zoom Token: $0.00001804 – up 593.06 percent
Ninja Floki: $0.000004213 – up to 378.45 percent
Galactic Kitty Fighters: $0.0000001566 – up to 370.85 percent
Meta Speed Game: $0.000026 – up to 247.65 percent
Bole tokens: $0.0000963 – up 190.92 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
ETH Fan Token: $0.0000000002405 – 98.80 percent down
Infinity Token: $0.0002579 – 98.63 percent drop
Talent Token: $0.04808 – 91.31 percent drop
EarnHub: $0.00000008977 – 90.35 percent down
Metapay: $0.0000001231 – 85.23 percent off
Pappas: $0.00000007031 – 78.71 percent less
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