Cryptocurrency Update: The global cryptocurrency market has recovered after falling for a day yesterday, with major cryptocurrencies losing value for a number of reasons. On Friday, February 3, the global crypto market traded in the green, which is good news for investors as all major coins rose significantly over the course of the day. The market appeared to be stabilizing at this point, after falling steadily for weeks after the US Federal Reserve meeting, where it announced a rate hike to cushion inflation.
The cryptocurrency market cap was $1.76 trillion, according to data from global crypto tracking website CoinMarketCap. This was up 5.01 percent in the past 24 hours. However, global crypto volume declined slightly over the past day as more traders held onto their coins. The total volume of coins traded in the past day was $68.74 billion. This is down 6.14 percent in the past 24 hours, according to data on the website.
Bitcoin saw a gain on the day, with a value approaching $38,000, according to data. At the time of writing this article, Bitcoin prices stood at $37,957.51 according to CoinMarketCap. According to data, it was 3.58 percent more in the last 24 hours and 4.11 percent in the last seven days.
“Global crypto market capitalization is slightly down from yesterday. Bitcoin and Ethereum have fallen nearly 2 percent each in the past 24 hours. BTC and ETH are trading below $37,000 and $2,700. Bitcoin dominance is currently 41 percent in the market. The crypto market has faced heavy selling pressure that ended its two-day winning streak. The BTC support is $35,000. The BTC is trading sideways and is likely to continue for a few more days. As they come to other altcoins, they are kind of running into the red. If buyers can get above $40,000 to reverse this ongoing downward trend,” said Edul Patel, CEO and co-founder of Mudrex.
Dogecolony became the top winner in the crypto pack on Thursday. In the past 24 hours, the value of one coin has increased by 504.36 percent. One token cost $0.00005483, according to data from CoinMarketCap. MetaPay and The Neko were the other two winners occupying the next top spots on the day.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Doge Colony: $0.000005483 – an increase of 504.36 percent
MetaPay: $0.000001921 – an increase of 500.11 percent
The Neko: $0.0001664 – an increase of 411.43 percent
Bird Token: $0.0000002205 – an increase of 394.22 percent
Stobox Token: $0.02431 – an increase of 314.92 percent
Qrkita Token: $0.000006873 – Up 298.08 percent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to CoinMarketCap Data)
Vive La Bouje: $35.54 – down 90.39 percent
PAPPAY: $0.0000007615 – down 85.59 percent
TigerInu2022: $0.00002672 – down 84.80 percent
Doge soars: $0.0000000004891 – 76.78 percent decline
MetaMaps: $0.0001014 – down 75.84 percent
Snowtomb LOT: $202.35 – down 62.36 percent
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