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Cryptocurrency updateThe global cryptocurrency market took a hit on Wednesday, February 9th, with many cryptocurrencies losing value throughout the day. The market value has remained volatile after performing well in the past few days. The volatility in the cryptocurrency market came after the US Federal Reserve meeting, where it indicated higher interest rates to counter inflation.
The Cryptocurrency market The maximum was at $1.71 trillion, according to data from global crypto-tracking website CoinMarketCap. This is down 14.09 percent in the past 24 hours. Global crypto volume has also decreased slightly over the past day. The total volume of coins traded reached $69.78 billion over the past day. The data published on the website said that this decreased by 37.13 percent in the past 24 hours.
The global cryptocurrency market is down nearly 2 percent in the past 24 hours. Bitcoin and Ethereum are also slightly lower, and are trading at $43,000 and $3,000,” said Edul Patel, CEO and co-founder of Mudrex.
Bitcoin saw a slight loss on the day, dropping its value below $43,000 according to the data. At the time of writing this article, Bitcoin is at $43,754.77
According to CoinMarketCap. This is down 0.33 percent over the past 24 hours. On the other hand, Ether price is up 1.44 percent over the past day and is at $3,148.05 at the time of writing this article.
“After trading as high as $45,595 on Tuesday, bitcoin has slipped to a balance above $43,000. SOPR is an indicator that reflects the degree of profit and loss realized for all coins moved on the chain,” said Darshan Bateja, CEO and Co-Founder of Fold.
“BTC resistance is between $45,000-$47,000, and support is flat at $40,000. If buyers can make a decisive move above $40,000, Bitcoin could return to its peak at $69,000,” Patel added.
On the other hand, Batheja noted, “Looking at this metric, we can see that most bitcoin holders are still looking for losses, and therefore are unlikely to sell until they break even and turn a profit. This means that the current uptrend is likely to continue. Until a particular department moves to book its profits.”
Top 6 Cryptocurrency Earnings in the Last 24 Hours (According to Data from CoinMarketCap)
BoleToken: $0.0008561 – up 794.24 percent
Dogecolony: $0.0000007805 – up 679.91 percent
MetaPay: $0.000009256 – up 651.94 percent
PAPPAY: $0.0000003754 – up 434.66 percent
Bored Floki Yacht Club: $0.00004607 – up 323.80 percent
MetaFabric: $0.0192 – an increase of 158.12 percent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
Colligo: $0.0001415 – down 92.98 percent
Magic Inu: $0.0001029 – down 92.19 percent
3 Participation: $913.84 – down 67.33 percent
3OMB Token: $6.58 – 61.36 percent down
Ctomorrow: $0.1812 – down 60.31 percent
Idea Chain Coin: $0.525 – down 59.58 percent
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