Top cryptocurrencies on 16 February traded in the green. The value of Bitcoin rose 11.81 percent to stand at $24,737.57.
On Wednesday, U.S. equity markets traded in the green, with the tech-heavy Nasdaq Composite up 0.92 percent and the S&P 500 index noting a rise of 0.28 percent. Indeed, yesterday’s gains positively impacted the market on Thursday.
The global crypto market cap increased by 8.80 percent to stand at $1.12T. The value of the total crypto market volume noticed gains of 23.05 percent to $71.95B.
“Bitcoin is starting the day initially higher despite broad risk aversion to U.S. data that suggests the economy could handle much more Fed tightening. Crypto traders are also learning more about proposed rule changes for which crypto firms can custody customer assets,” said Edward Moya, a senior market analyst at OANDA.
As of (0930 IST), the price of Ethereum went up 9 percent to stand at $1,689.36 from its $1,400 mark. Despite the regulatory tenions of stablecoins and the future Fed policies to control inflation, the crypto market grew. On this note, the price of XRP increased by 5.31 percent to $0.400732. This advancement was further witnessed in Polygon by 9.41 percent to $1.36. Cardano’s value marked an increase of 6.28 percent to $0.410546.
At this time, Solana and Dash advanced by 10 percent to $23.76 and 10.24 percent to $75.63. BNB surged 8.25 percent to $321.35. This spike was also registered in the values of Monero and Avalache by 4.98 percent to $165.75 and 10.86 percent to $20.00, respectively.
According to CoinMarketCap, the top gainers were OKB, Render Token, Optimism, and Flow. Contrarily, the top losers were, Pax Gold, TrueUSD, Tether and Pax Dollar.
Meme coins register profit
Shiba Inu traded higher by 7.53 percent to $0.000014. The boost in values positively impacted the price of Dogecoin by a 4.69 percent increase to $0.089504.
Metaverse tokens in the green
Decentraland registered gains of 11.92 percent to $0.740764. The value of Axie Infinity and The Sandbox noticed profits of 11.46 percent to $11.00 and 11.53 percent to $0.779887, respectively.