Cryptocurrency Update: Bitcoin on Tuesday, February 8, crossed the $44,000 mark in a dramatic comeback as it displayed its longest rally in over five months. However, the coin by nature still remained volatile, as the global cryptocurrency market went steadily upward for another consecutive day, touching the $2 trillion mark. The market was seemingly stabilising at this point, after declining constantly for weeks following the meeting of the US Federal Reserve, where it had indicated a hike in interest rates to take on inflation.
The cryptocurrency market cap was standing at $2.00 trillion, according to data from global crypto tracking website CoinMarketCap. This was up by 2.12 per cent over the last 24 hours. The The global crypto volume also rose slightly over the past day. The total volume of traded coins amounted to $87.73 billion over the course of the last day. This has fallen by 44.14 per cent over the last 24 hours, said data on the website.
Bitcoin on the day saw a sharp gain, with its value crossing the $44,000 mark as per data. At the time of writing this article, Bitcoin prices stood at $43,872.91
according to CoinMarketCap. This was up by 2.77 per cent over the last 24 hours. Ether prices also went up by 0.91 per cent over the course of the past day and stood at $3,104.26 at the time of writing this article.
Meanwhile, a group of major cryptocurrency firms including Coinbase, Circle, Anchorage Digital and Huobi Global are forming a new coalition aimed at cracking down on market manipulation in an effort to instill trust in the burgeoning digital asset industry, Reuters reported.
The Crypto Market Integrity Coalition, which was convened by risk-monitoring software company Solidus Labs, is also urging digital currency companies to sign a “market integrity” pledge that acknowledges the potential for fraud in the cryptocurrency space and the need for the industry to protect investors, said the report.
“In a progressive step towards instilling trust in the digital asset industry, the launch of the Crypto Market Integrity Coalition has brought together some of the most prominent companies at the forefront of the crypto sector, pledging to protect investors and champion market integrity. This comes as the industry braces for tighter regulatory scrutiny following the US Securities and Exchange Commission’s new proposed rules that may tighten the reins over digital asset exchanges,” said CoinDCX research team.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
SWAK: $0.001731 – up by 2,072.96 per cent
ZUM TOKEN: $0.00001804 – up by 593.06 per cent
Ninja Floki: $0.000004213 – up by 378.45 per cent
Galactic Kitty Fighters: $0.000000001566 – up by 370.85 per cent
Meta Speed Game: $0.000026 – up by 247.65 per cent
Bole Token: $0.00009963 – up by 190.92 per cent
Top 6 Cryptocurrency Losers in the Last 24 Hours (According to Data from CoinMarketCap)
ETH Fan Token: $0.00000000002405 – down by 98.80 per cent
Infinity Token: $0.00002579 – down by 98.63 per cent
Talent Token: $0.04808 – down by 91.31 per cent
EarnHub: $0.00000008977 – down by 90.35 per cent
MetaPay: $0.000001231 – down by 85.23 per cent
PAPPAY: $0.00000007031 – down by 78.71 per cent
Read all the Latest News, Breaking News and Coronavirus News here.