Bitcoin Rises to 6-Month High with Explosive 10% Gain

The cryptocurrency market capitalization saw a net inflow of $70 billion in the last 24 hours and is currently $1.11 trillion – up 6.56% from $1.04 trillion.

During the reporting period, Bitcoin and Ethereum’s market capitalization rose by 9.40% and 7.01% to $473.45 billion and $205.73 billion, respectively.

The top 10 crypto assets recorded gains in the last 24 hours. Bitcoin and Polygon increased by about 10% respectively. Others such as Ethereum and Solana saw gains of over 6% each.

Over the past 24 hours, the market capitalizations of Tether (USDT) and USD Coin (USDC) have increased to $69.80 billion and $41.50 billion, respectively. Meanwhile, the market cap of Binance USD (BUSD) fell to $14.07 billion.

Bitcoin

In the last 24 hours, Bitcoin gained 9.38% to trade at $24,568 as of 07:00 ET. Market dominance increased to 42.7% from 41.7%.

BTC rose to a six-month high of $24,769 during the reporting period after bullish sentiments took over the market. The favorable price performance liquidated over $200 million in short positions against the asset.

Ethereum

In the last 24 hours, Ethereum rose 6.99% to trade at $1,682 as of 07:00 ET. Market dominance rose to 18.6% from 18.5%.

ETH price performance mirrored BTC – peaking at $1,700 before retreating to current levels. The asset’s fear and greed index is fixed rooted in the greed zone at press time.

Top 5 winners

Conflux Network

CFX is the biggest gainer of the day, rising 120.78% during the reporting period to $0.13588 as of press time. The smart contract-enabled platform achieved a partnership with China’s second-largest wireless carrier – China Telecom – to develop Blockchain-enabled SIM cards (BSIMs). Its market capitalization was $302.31 million.

Floki Inu

FLOKI rose 65.47% to $0.0000546881 the last 24 hours. The leading crypto exchange KuCoin listed the meme coin on February 15, and the trading volume rose above 150 million dollars. The market value was $$482.18 million.

Obscurity

BLUR jumped 49.16% to $1.12527 as of press time. The NFT Marketplace token recovered from a decline of over 80% on February 15 to cross the $1 mark during the reporting period. The market value was 405.1 million dollars.

WEMIX

WEMIX gained 39.86% in the last 24 hours to trade at $1.79734. The NFT-related token was listed on crypto exchanges such as Mercado Bitcoin and Coinone in the last 24 hours. The market value was 439.54 million dollars.

The MX token

MX rose 29.35% to $1.21140 at press time. It was unclear why the centralized exchange token was rising at press time. The market value was 121.14 million dollars.

Top 5 losers

Onyxcoin

XCN is the biggest loser of the day, falling 5.52% to $0.01664 as of press time. The Onyx ecosystem’s native token surged 50% in the past seven days. The market value was $390.69 million.

Axles

AXL lost 2.17% and was trading at $0.77223 at press time. AXL hasn’t had much interest from the community despite its Coinbase listing – it’s down 4% in the past week. The market value was $126.55 million.

Paxo’s standard

USDP decreased 0.6% over the reporting period to USD 0.99431. Issuer Paxos is under scrutiny for its lax due diligence on its other stablecoin, Binance USD (BUSD). The market value was 873.09 million dollars.

Liquidity USD

LUSD is another stablecoin on the top losers list. The stablecoin fell 0.36% to $1.00115 at press time. It was unclear why the stablecoin experienced high volatility. Its market capitalization was $227.29 million.

Only Stablecoin

USDJ plunged 0.23% to $1.12458 over the reporting period. The Tron-based stablecoin rose 1.54% in the past seven days. The market value was $307.29 million.