Cryptocurrency update: On Tuesday, February 8, Bitcoin crossed the $44,000 mark in a dramatic comeback as it showed its longest rally in more than five months. However, the currency remained inherently volatile, as the global cryptocurrency market rose steadily for another consecutive day, touching the $2 trillion mark. The market was apparently stable at this point, having been consistently lower for weeks following the US Federal Reserve meeting, as it signaled higher interest rates to counter inflation.
The cryptocurrency market cap has reached $2.00 trillion, according to data from global crypto-tracking website CoinMarketCap. This has increased by 2.12 percent in the past 24 hours. The global cryptocurrency volume also increased slightly over the past day. The total volume of coins traded reached $87.73 billion over the past day. The data published on the website said that this decreased by 44.14 percent in the past 24 hours.
Bitcoin saw sharp gains on the day, surpassing $44,000 in value according to the data. At the time of writing this article, Bitcoin is at $43,872.91
According to CoinMarketCap. This is up 2.77 percent in the past 24 hours. Ether price is also up 0.91 percent over the past day and is at $3,104.26 at the time of writing.
Meanwhile, a group of major crypto companies including Coinbase, Circle, Anchorage Digital and Huobi Global are forming a new coalition that aims to crack down on market manipulation in a bid to instill confidence in the burgeoning digital asset industry.
The Crypto Market Integrity Coalition, convened by the risk-monitoring software company Solidus Labs, is also urging crypto companies to sign a “market integrity” pledge that recognizes the potential for fraud in the cryptocurrency space and the need for industry to protect investors, the report said.
“In an incremental step towards instilling confidence in the digital asset industry, the launch of the Crypto Market Integrity Alliance has brought some of the most prominent companies to the forefront of the crypto sector, pledging to protect investors and uphold market integrity. This comes as the industry prepares for tougher regulatory scrutiny following proposed new rules. from the US Securities and Exchange Commission which may tighten control over digital asset exchanges,” said the CoinDCX research team.
Top 6 Cryptocurrency Earnings in the Last 24 Hours (According to Data from CoinMarketCap)
SWAK: $0.001731 – up 2072.96 percent
ZUM TOKEN: $0.0001804 – up 593.06 percent
Ninja Floki: $0.000004213 – up 378.45 percent
Galactic Kitty Fighters: $0.000000001566 – an increase of 370.85 percent
MetaSpeed: $0.00026 – up 247.65 percent
Poly coin: $0.0009963 – up 190.92%
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
ETH Fan Token: $0.000000002405 – 98.80 percent down
Infinity symbol: $0.0002579 – down 98.63 percent
Talent Code: $0.04808 – down 91.31 percent
EarnHub: $0.00000008977 – down 90.35 percent
MetaPay: $0.000001231 – down 85.23 percent
PAPPAY: $0.00000007031 – down 78.71 percent