The cryptocurrency market has witnessed a surge, with Bitcoin breaking past the $44,000 threshold and Ethereum stabilizing over $2,400, signaling robust gains for investors. This reflects a broader uptrend among leading alternative coins, suggesting a potential market recovery.
Bitcoin’s Bullish Behavior Lifts Market Spirits
Bitcoin’s value saw an upturn last night, sustaining its momentum into the early morning. As of Thursday, February 8th, Bitcoin’s value has escalated by 3.80%, reaching $44,579. The digital currency’s trading volume spiked by 38.40% within 24 hours, totaling $23.67 billion. Concurrently, Bitcoin’s market capitalization soared to $873.63 billion.
Altcoins Follow Suit, Registering Notable Gains
Ethereum’s price ascended to $2,430.03, an increase of 2.91%, with a market cap of $291.65 billion. Its trading volume modestly rose by 1.32%, reaching $9.92 billion. Binance Coin, trailing Ethereum, saw its price climb by 3.76% to $312.64, and its trading activity surged by 41.72%, amounting to $982.30 million.
Other altcoins also demonstrated positive price movements. Solana exceeded the $100 mark once more, with a value of $101.84 after a 6.57% hike. XRP, recovering from recent fluctuations, traded at $0.5133, marking a 1.83% rise. Cardano’s price increased by 5.34% today, reaching $0.5121, coupled with a trading volume boost of 67.72%.
In the meme coin sector, Dogecoin appreciated by 2.12% to $0.08004, while Shiba Inu saw over a 3% gain, trading around $0.0000091. Pepe Coin also enjoyed a resurgence, with its price rising by 2.98% to $0.0000009546, and a market cap of $401.93 million.
Promising altcoins such as Dymension and Celestia continue to turn heads with substantial increases of 20.88% and 12.61%, respectively. Dymension’s price hit $6.01, albeit with a smaller trading volume of $352.45 million. Celestia attracted investors with its gains and airdrop rewards, pushing its price to $19.51 and its trading volume up by 48.31% to $202.07 million.