CryptoSlate Daily wMarket Update: Bullish market sentiment sends Bitcoin briefly above $24,000

The cryptocurrency marketplace headdress saw a nett inflow of astir $40 cardinal implicit the past 24 hours and presently stands astatine $1.09 trillion — up 4.22% from $1.05 trillion.

Over the reporting period, Bitcoin and Ethereum’s marketplace headdress accrued by 3.17% and 5.69% to $459.17 cardinal and $204.59 billion, respectively.

The apical 10 crypto assets posted gains implicit the reporting play — Polygon and BNB recorded the highest increases of 13.06% and 7.07%, respectively. Other assets similar Ethereum, Solana, Polkadot, and Cardano posted gains higher than 5%.

Source: CryptoSlate.com

Over the past 24 hours, the marketplace headdress of Tether (USDT) marginally roseate to $67.82 billion, portion that of USD Coin (USDC) fell to $42.30 billion. On the different hand, the marketplace headdress of BinanceUSD (BUSD) remains unchanged astatine $16.10 billion.

Bitcoin

Over the past 24 hours, Bitcoin gained 3.25% to commercialized astatine $23,833 arsenic of 07:00 ET. Its marketplace dominance fell to 42.1% from 42.5%.

After the Feds hiked involvement rates by 25 ground points, bullish sentiments took implicit the market, and Bitcoin traded supra the $24,000 level for the archetypal clip since August 2022 earlier retracing to its existent level.

BTC Price Performance (Source: Tradingview.com)

Ethereum

Ethereum grew 5.73% implicit the past 24 hours to commercialized astatine $1,671 arsenic of 07:00 ET. Its marketplace dominance roseate to 18.7% from 18.5%.

Like BTC, ETH posted a important greenish candle that took its worth adjacent $1700 implicit the reporting play — peaking astatine $1689. During the aboriginal trading hours of Feb. 2, the plus mostly traded supra the $1650 level.

ETH Price Performance (Source: Tradingview.com)

Top 5 Gainers

Synapse

SYN is the day’s biggest gainer, rising 43.37% implicit the reporting play to $1.21 arsenic of property time. The Synapse ecosystem token accrued 39% implicit the past 7 days. Its marketplace headdress stood astatine $168.95 million.

Magic

MAGIC grew 34.39% to $1.79 arsenic of property time. The NFT-related token roseate by implicit 250% successful the past 30 days. Its marketplace headdress stood astatine $375.72 million.

Loopring

LRC gained 24.68% implicit the reporting play to commercialized astatine $0.43 arsenic of property time. The Layer-2 solution has seen renewed attraction owed to its inexpensive state fees for ERC20 and NFT transactions. Its marketplace headdress stood astatine $565.68 million.

Optimism

OP is different layer2 solution connected the apical gainer’s list. Its OP token surged 23.08% to different all-time precocious of $2.785. Transaction measurement connected the protocol peaked astatine implicit 800,000 successful January erstwhile involvement successful its ecosystem was high. Its marketplace headdress stood astatine $651.98 million.

Hex

HEX jumped 19.9% to $0.032 arsenic of property time. Interest successful the PulseChain testnet v3 has reached a fevered high, with galore assemblage members speculating astir the motorboat date. Its marketplace headdress stood astatine $5.63 billion.

Top 5 Losers

Wrapped Everscale

The wrapped mentation of Everscale, WEVER, is the day’s biggest loser. The token fell by 31.27% to $0.11 arsenic of property time. The token appears to person shed immoderate of its Feb. 1 gains. Its marketplace headdress stood astatine $195.91 million.

Everscale

EVER is connected the apical loser’s database for the 2nd consecutive day. The token decreased by 3.32% implicit the reporting play to $0.11 as of property time. The project’s affirmative terms show implicit the past 30 days saw it emergence by much than 300%. Its marketplace headdress stood astatine $193.62 million.

Status

SNT plunged 1.92% to $0.034  arsenic of property time. The token roseate by implicit 80% successful the past 30 days. Its marketplace headdress stood astatine $137.7 million.

Gemini Dollar

GUSD is down 0.51% successful the past 24 hours to $0.99 arsenic of property time. The stablecoin has seen accrued scrutiny pursuing the caller issues plaguing its genitor company, Gemini. The stablecoin concisely depegged earlier successful the week. Its marketplace headdress stood astatine $605.82 million.

MobileCoin

MOB mislaid 0.31% successful the past 24 hours to commercialized astatine $1.45 arsenic of property time. The privacy-focused plus has plunged by 43% successful the erstwhile 30 days. Its marketplace headdress stood astatine $108.17 million.

The station CryptoSlate Daily wMarket Update: Bullish marketplace sentiment sends Bitcoin concisely supra $24,000 appeared archetypal connected CryptoSlate.