Bullish market sentiment sends Bitcoin briefly above $24,000

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The cryptocurrency market capitalization has seen a net inflow of around $40 billion in the past 24 hours and currently stands at $1.09 trillion, up 4.22% from 1 .05 trillion.

During the reporting period, the market capitalization of Bitcoin and Ethereum increased by 3.17% and 5.69% to $459.17 billion and $204.59 billion, respectively.

Top 10 crypto assets recorded gains during the reporting period Polygon and BNB recorded the largest increases of 13.06% and 7.07%, respectively. Other assets like Ethereum, Solana, Polkadot and Cardano saw gains above 5%.

Source: CryptoSlate.com

In the last 24 hours, the market capitalization of Tether (USDT) increased slightly to $67.82 billion, while that of USD Coin (USDC) fell to $42.30 billion. In contrast, the market capitalization of BinanceUSD (BUSD) remains unchanged at $16.10 billion.

Bitcoin

Over the past 24 hours, Bitcoin gained 3.25% to trade at $23,833 as of 7:00 a.m. ET. Its market dominance fell to 42.1% from 42.5%.

After the Fed hiked interest rates by 25 basis points, bullish sentiments engulfed the market and Bitcoin traded above the $24,000 level for the first time since August 2022 before falling back to lows. its current level.

BTC price performance (Source: Tradingview.com)Ethereum

Ethereum is up 5.73% in the past 24 hours to trade at $1,671 as of 07:00 AM ET. Its market dominance fell from 18.5% to 18.7%.

Like BTC, ETH displayed a substantial green candle that gained in value near $1700 during the reporting period, peaking at $1689. During the early hours of trading on February 2, the asset mostly traded above the $1650 level.

ETH Price Performance (Source: Tradingview.com)Top 5 WinnersSynapse

SYN is the biggest gainer of the day, rising 43.37% over the reporting period to hit $1.21 at press time. The Synapse ecosystem token is up 39% in the last seven days. Its market cap was $168.95 million.

Magic

MAGIC was up 34.39% at $1.79 at press time. The NFT-linked token is up over 250% in the last 30 days. Its market capitalization stood at $375.72 million.

Loop

LRC gained 24.68% in the reporting period to trade at $0.43 at press time. The Layer-2 solution has received renewed attention due to its cheap gas fees for ERC20 and NFT transactions. Its market capitalization stood at $565.68 million.

Optimism

OP is another Layer 2 solution on the top winners list. Its OP token jumped 23.08% to another all-time high of $2.785. Transaction volume on the protocol peaked at over 800,000 in January, when interest in its ecosystem was high. Its market capitalization stood at $651.98 million.

hexagon

HEX jumped 19.9% ​​to $0.032 at press time. Interest in the PulseChain testnet v3 has reached a fever pitch with many community members speculating on the launch date. Its market cap was $5.63 billion.

Top 5 LosersWrapped Everscale

Everscale’s wrapped version, WEVER, is the biggest loser of the day. The token fell 31.27% to $0.11 at press time. The token appears to have lost some of its Feb. 1 gains. Its market capitalization stood at $195.91 million.

Everscale

EVER is on the top losers list for the second day in a row. The token was down 3.32% over the reporting period to $0.11 at press time. The project’s positive price performance over the past 30 days has driven it up by more than 300%. Its market capitalization stood at $193.62 million.

Status

SNT plunged 1.92% to $0.034 at press time. The token is up over 80% in the last 30 days. Its market cap was $137.7 million.

Gemini Dollar

GUSD is down 0.51% in the past 24 hours to $0.99 at press time. The stablecoin has come under increased scrutiny following recent issues plaguing its parent company, Gemini. The stablecoin briefly stripped down earlier in the week. Its market cap was $605.82 million.

MobileCoin

MOB is down 0.31% in the past 24 hours to trade at $1.45 at press time. The privacy-focused asset has plunged 43% in the past 30 days. Its market capitalization stood at $108.17 million.

Posted in: Bitcoin, Wrapped

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