The cryptocurrency market saw a flurry of activity Thursday morning as Ethereum (ETH) surged past the $1600 mark. Meanwhile, Bitcoin (BTC), an oldest crypto, was able to keep regular payments within the $23,000 range. Additionally, other Altcoins such as Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), Solana (SOL) all saw a rise in their value, with the Optimism (OP) token experiencing the biggest growth of 21% in 24 hours. On the other hand, UNUS SED LEO token was the biggest loser, dropping 6% in the same period.
The world’s crypto market capitalization was recorded at $1.09 trillion while the 24-hour gain was 4.02 percent. Bitcoin (BTC) was valued at $23,895.41 with a 24-hour gain of 3.24%, while Ethereum (ETH) was at $1,674.69, with a 24-hour increase of 5.69%. Dogecoin (DOGE) witnessed a 24-hour gain of 1.86%, with Indian Trade WazirX noting its value at Rs 7.90. Litecoin (LTC) also saw a 24-hour gain of 4.35% with WazirX recording its worth in India at Rs 8,375.33. Ripple (XRP) had a 24-hour gain of 2.25% and was valued at Rs 34.24 on WazirX. Lastly, Solana (SOL) had a 24-hour gain of 6.05% with WazirX recording its value in India at Rs 2,100.14.
Top Gaining Cryptocurrencies (Feb 2)
Based on CoinMarketCap Information, here are the top 5 gaining cryptocurrencies in the last 24 hours.
Optimism (OP)
Price: $2.72
24-hour gain: 21.46 %
Loop Ring (LRC)
Price: $0.4104
24-hour gain: 18.57 %
Synthetix (SNX)
Price: $2.71
24-hour gain: 16.59 %
GMX (GMX).
Price: $67.47
24-hour gain: 14.47 %
ImmutableX (IMX).
Price: $0.8477
24-hour gain: 13.99 %
Top Losing Cryptocurrencies (Feb 2)
Based on CoinMarketCap Information, here are the top 5 losing cryptocurrencies in the last 24 hours.
UNUS SEED LEO (LEO).
Price: $3.37
24-hour loss: 6.82 %
Threshold (T)
Price: $0.0497
24-hour loss: 1.91 %
Trusted Wallet Token (TWT)
Price: $1.69
24-hour loss: 1.72 %
TrueUSD (TUSD).
Price: $0.9999
24-hour loss: 0.02 %
What Crypto Exchanges Are Saying About The Current Market
Mudrex Co-founder and CEO Edul Patel said: “After the US Federal Reserve increased the benchmark interest rate by 25 basis points, the cryptocurrency and tech markets barely managed to increase their trade volume Wednesday. This is due to the market participants finding assurance from Fed Chairman Jerome Powell’s comments regarding the decreasing inflation rate in the US. Bitcoin experienced a 4-hour drop to $22,874 before trading above $23,900. If the uptrend continues, we could see a rally towards $24,000, and eventually $25,000. Ethereum, on the other hand, broke the $1,600 barrier with support at this level and resistance at $17
