Crypto Market Turned Green.
After a minor recovery on Tuesday in response to the newest January CPI data, Crypto Market increased on Wednesday. Back at month highs, the price of bitcoin.
BTC increased by more than 8% to trade over $24,300, sending the price of bitcoin back to near-month highs. After the FTX collapse in early November, the biggest cryptocurrency in the world has gained 40% so far this year. After plummeting to a new monthly low around $1,470 late on Monday, Ethereum recovered 7% to $1,660 on Wednesday. Ethereum first regained $1,700 at the beginning of February, which was the first time since early September.
The global cryptocurrency market cap rise by 1.2% to $1.15 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $85.63 billion.
Cryptoquants Derivates shows positive funding rates which means crypto will turn green in the coming hours.
BTC price has rise by 9.5% in the last 24 hours. At the time, BTC was trading at $24,300, and bounced from the $21,600 support zone. In the last 7 days, BTC price has fall by 2.47%. Bitcoin (BTC) dominance fall from 39.94% to 39.76% while ETH dominated 20.11% of the total crypto markets.
Top Crypto Prices
Ethereum (ETH): Ethereum price rise by around 7.13% to $1,667 in the last 24 hours. In the last 7 days, ETH price has rise by over 3.95%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.
Solana (SOL): Solana price rise 8.42% to $23.79 in the last 24 hours. In the last 7 days, SOL price has rise by nearly 0.12%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.
Dogecoin’s (DOGE) price rise by 5.91% in the last 24 hours. DOGE is currently ranked 9th. The price of DOGE at the time of this report was $0.08853.
Polygon (MATIC) price rise by around 4.96% to $1.3209 in the last 24 hours. In the last 7 days, MATIC price has rise by around 3.41%. It is currently ranked 10th on CoinGabbar.
Shiba Inu (SHIB) rise by 7.14% in the last 24 hours to $0.00001365. It is currently ranked 14th on CoinGabbar.
Major Events
The Blockchain Association has argued that Congress, not the Securities and Exchange Commission, should decide how to regulate cryptocurrencies (SEC).
Elon Musk posted a picture of his dog resting on the Twitter CEO's chair on Twitter. The tweet gained a lot of attention right away, and people began tying together various threads to figure out the message's true meaning.
A total of $1.4 million worth of cryptocurrency related to North Korean hackers has been blocked by Binance and Huobi.
In order to fund his other two firms, Brian Armstrong tweeted about selling 2% of Coinbase's stock in its centralised exchange.
