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The Cryptocurrency The market was trading in the green on Saturday. Bitcoin Trade above the $41,000 mark. The world’s largest and most popular digital token rose more than 10.80 percent at $41,411.23. Bitcoin’s market dominance increased slightly to 41.65 percent and the virtual token was trading at $41,388.68 on February 5. The world’s largest and most popular cryptocurrency is up 23.2% from its year low of $3,2950.72.
Likewise, Ether, the coin linked to the Ethereum blockchain and the second largest cryptocurrency, rose marginally to $2,990.09, according to coinmarketcap.com. On the other hand, Binance Coin stock also rose more than 7.68 percent at $399.89. Dogecoin price increased to $0.13 while Shiba Inu was trading at $0.000021. Other cryptocurrencies also improved as XRP, Stellar, Avalanche, Cardano, Solana, Polygon and Terra all traded with gains in the past 24 hours.
The global cryptocurrency market cap rose to $1.87 trillion in the past 24 hours from $1.70 trillion, while trading volumes rose to $90.36 billion from $68.72 billion on February 5.
Decentralized Finance (DeFi) accounted for 13.44 percent of the total cryptocurrency trading volume at $12.21 billion in the past 24 hours. On the other hand, stablecoins made up 81.35 percent of the 24-hour crypto market volume at $73.92 billion.
India’s Finance Minister TV Sumanathan said Thursday that cryptocurrency will never be legal tender, giving way to the legitimacy of private digital currencies in the market. The 2022-23 budget gave clarification on taxes on virtual digital assets and proposed a 30 percent tax on gains made in such deals, along with subjecting crypto transactions, above the threshold, to a 1 percent tax refund.
Here are the top 10 cryptocurrencies and their prices on February 5, 2022 (data from coinmarketcap.com at the time this article was published)
Bitcoin $41,411.23 or 10.80% gain in the last 24 hours
Ethereum $2,990.09 or 11.19% gain in the last 24 hours
Cardano $1.14 or 7.99 percent gain in the last 24 hours
Assess a loss of $1.00 or 0.01 percent in the last 24 hours
Terra $56.95 or 12.68 percent loss in the last 24 hours
XRP $0.6678 or 9.65 percent gain in the last 24 hours
Solana $112.05 or 8.61 percent gain in the last 24 hours
Avalanche of $69.31, or 1.24 percent, gain in the past 24 hours
Binance $1.00 or 0.04 percent gain in the last 24 hours
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