Market bullish for second straight day, Bitcoin up 11.57%, Ethereum up 9.27%
Outlook money
The global cryptocurrency market rose 8.78 percent on Thursday morning, reaching $1.12 trillion. Bitcoin and other popular altcoins increased in value. Even the top loser only lost 0.50 percent
The global crypto market was bullish for the second day in a row on February 16, 2023. It was a profitable day for Bitcoin (BTC), Dogecoin (DOGE), Ethereum (ETH), Solana (SOL) and other major altcoins.
The global cryptocurrency market capitalization was $1.12 trillion at 11:00 PM IST, up 8.78 percent from the previous day, according to data from coinmarket.com.
The total crypto market volume increased by 25.13 percent to $73.36 billion in the last 24 hours.
The most popular crypto was Blur (BLUR), but the biggest gainer for the day was Optimism (OP), up 19.06 percent to $2.83, while the top loser was PAX Gold (PAXG), down 0.50 percent to $1 824.73.
Cryptocurrency prices
Bitcoin: The price of Bitcoin rose by 11.57 percent to $24,670.34. After several days of trading in the red, Bitcoin started to make gains on February 15, 2023. On Thursday, BTC further extended its gains.
In the period between 01:25 and 06:00 IST, the price of Bitcoin rose from $23,276 to $24,755. Similarly, trading volume jumped from $26.72 billion to $33.81 billion.
Ethereum: ETH’s price rose by 9.27 percent to $1,693.07. ETH extended its gains from yesterday. A gradual upward trend was seen in Ethereum and at 12:40 PM IST on Thursday, the price increased from $1,589 to $1,688 in two hours. The trading volume level rose from $7.50 billion to $9.41 billion.
The lowest price for ETH was $1,546. ETH trading volume increased by 26.54 percent to $11.6 billion.
Other Altcoins
Solana (SOL) was up 10.49 percent to $23.85.
In its 24-hour trade, Ripple’s (XRP) price rose 5.07 percent to $0.4013, even as trading volume rose 14.37 percent.
Cardano (ADA) was up 6.48 percent at $0.4104. After an increase of 4.14 percent, the 24-hour trading volume reached $529 million.
Binance (BNB) rose 9.23 percent to $324.09. Its 24-hour trading volume rose 35.89 percent to $870.7 million.
Meme Coins
Dogecoin rose 4.20 percent to $0.08951, and 24-hour trading volume rose 15.98 percent.
Shiba Inu was up 7.29 percent to $0.0000137.
Decentralized Finance (DeFi)
Yearn.Finance (YFI) rose 5.98 percent, even as its 24-hour trading volume rose 56.34 percent.
Avalanche (AVAX) rose 10.28 percent to $20.03, and 24-hour trading volume rose 24.89 percent.
Aave (AAVE) traded up 6.75 percent to $89.32.
