6 crypto coins are rising by 700% per day. Bitcoin, ether in green

Cryptocurrency Update: The global cryptocurrency market on Monday, February 7, saw a massive drop after barely rising in the morning. This came even as major cryptocurrencies gained during the day, with Bitcoin crossing $42,000 and Ethereum scaling back to $3,000 after days of decline. The global crypto market has remained extremely volatile for weeks after the US Federal Reserve meeting, where it announced a rate hike to cushion inflation. The cryptocurrency market cap was $1.71 trillion, according to data from global crypto tracking website CoinMarketCap. This was a 9.81 percent increase in the past 24 hours.

However, global crypto volume has surged over the past day as more traders sold their coins. The total volume of coins traded over the past day was $73.29 billion. This is down 17.21 percent in the past 24 hours, according to data on the website.

Bitcoin shot past $42,000 on the day, after a weeks hiatus. At the time of writing this article, Bitcoin prices stood at $42,684.09 according to CoinMarketCap. This was an increase of 2.81 percent in the past 24 hours. Ether was at $3,064.79 at the same time, up 2 percent in the past 24 hours, data showed.

“BTC’s price moved back above $40,000 for the first time since January 20 on Friday. We saw a steady increase in the price of the digital asset over the past week. According to Glassnode, the amount of BTC balance on exchanges continued to fall even as prices plummeted in recent months. Declines in this statistic implied that investor hopes for recovery were growing. For those investing in crypto for the long term, such fluctuations are to be expected. Volatility is something you have to deal with in the crypto market,” said Darshan Bathija, CEO and co-founder of Vauld.

“Over the past few weeks, the crypto market has seen massive declines and hit lows not seen in months. For most crypto owners, this recent price drop is just a temporary bump. If you have already invested or want to invest in cryptocurrency in the future, you should expect this volatility to continue,” said Kumar Gaurav, founder and CEO of Cashaa.

Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)

MetaPay: $0.000008335 – an increase of 700.97 percent

Doge Colony: $0.00005305 – an increase of 470.12 percent

First Eleven: $0.000000001468 – an increase of 443.20 percent

PAPPAY: $0.0000003303 – up 331.90 percent

GreenTrust: $0.000000006637 – an increase of 181.03 percent

ASIX Token: $0.00007705 – an increase of 172.54 percent

Top 6 Cryptocurrency Losers in the Last 24 Hours (According to CoinMarketCap Data)

NinjaFloki: $0.0000008805 – down 93 percent

Talent Token: $0.049 – Down 91.15 percent

ZUM Token: $0.000002608 – Down 83.65 percent

Doge rises: $0.0000000006227 – down 77.17 percent

Bedpage Coin: $0.1351 – 71.32 percent down

Bitcoin God: $2.87 – 59.76 percent down

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