cryptocurrency update: The global cryptocurrency market took a major hit on Wednesday, February 9, as several important crypto coins lost their value during the day. The market capitalization remained volatile after performing well for the past few days. The volatility of the crypto market came after the meeting of the US Federal Reserve, where it indicated a hike in interest rates to take on inflation.
cryptocurrency market According to data from global crypto tracking website CoinMarketCap, the cap stood at $1.71 trillion. It was 14.09 percent lower in the last 24 hours. Global crypto volumes also fell slightly in the past days. The total volume of coins traded during the previous day was $69.78 billion. According to the website’s data, it has declined by 37.13 percent in the last 24 hours.
“The global crypto market is down about 2% in the last 24 hours. Bitcoin and Ethereum also dropped slightly, and are trading at US$43,000 and US$3,000,” said Edul Patel, CEO and Co-Founder of Mudrex.
According to the data, bitcoin suffered minor losses on the day, with its value falling below $43,000. At the time of writing this article, the price of bitcoin is $43,754.77. Was
According to CoinMarketCap. It was 0.33 percent lower in the last 24 hours. On the other hand, Ether price is up 1.44 percent over the previous day and stands at $3,148.05 at the time of writing this article.
“After bitcoin traded as high as $45,595 on Tuesday, it retreated looking for a balance above $43,000. SOPR is an indicator that measures the degree of actual profit and loss for all coins that move on the chain. reflects,” said Darshan Bathija, CEO and co-founder of Wald.
“BTC has resistance in the range of $45,000 to $47,000 with support at $40,000. BTC price could revisit its peak at $69,000 if buyers can make a decisive move above $40,000. Patel said.
On the other hand, Bathija said, “Looking at this metric, we can see that the majority of bitcoin holders are still looking at losses and, therefore, are looking to sell until they break out and increase profits.” Not likely. This would mean that the current uptrend is likely to continue till a certain segment moves to book its profits.”
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Boletoken: $0.0008561 – up to 794.24 percent
Dogecolony: $0.00000007805 – up to 679.91 percent
Metapay: $0.000009256 – up to 651.94 percent
Pappas: $0.0000003754 – up to 434.66 percent
Bored Floki Yacht Club: $0.00004607 – up to 323.80 percent
Metafabric: $0.0192 – up to 158.12 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
Coligo: $0.0001415 – 92.98 percent drop
Magic Inu: $0.0001029 – 92.19 percent down
3Shares: $9,113.84 — down 67.33 percent
3OMB Token: $6.58 – 61.36 percent drop
Tomorrow Platform: $0.1812 – 60.31 percent drop
Idea Chain coin: $0.525 – down 59.58 percent
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