Bullish market sentiment sends Bitcoin briefly above $24,000

The cryptocurrency market cap noticed a web influx of round $40 billion during the last 24 hours and presently stands at $1.09 trillion — up 4.22% from $1.05 trillion.

Over the reporting interval, Bitcoin and Ethereum’s market cap elevated by 3.17% and 5.69% to $459.17 billion and $204.59 billion, respectively.

The highest 10 crypto property posted positive factors over the reporting interval — Polygon and BNB recorded the very best will increase of 13.06% and seven.07%, respectively. Different property like Ethereum, Solana, Polkadot, and Cardano posted positive factors increased than 5%.

Over the past 24 hours, the market cap of Tether (USDT) marginally rose to $67.82 billion, whereas that of USD Coin (USDC) fell to $42.30 billion. Alternatively, the market cap of BinanceUSD (BUSD) stays unchanged at $16.10 billion.

Bitcoin

Over the past 24 hours, Bitcoin gained 3.25% to commerce at $23,833 as of 07:00 ET. Its market dominance fell to 42.1% from 42.5%.

After the Feds hiked rates of interest by 25 foundation factors, bullish sentiments took over the market, and Bitcoin traded above the $24,000 stage for the primary time since August 2022 earlier than retracing to its present stage.

Ethereum

Ethereum grew 5.73% during the last 24 hours to commerce at $1,671 as of 07:00 ET. Its market dominance rose to 18.7% from 18.5%.

Like BTC, ETH posted a considerable inexperienced candle that took its worth close to $1700 over the reporting interval — peaking at $1689. Through the early buying and selling hours of Feb. 2, the asset largely traded above the $1650 stage.

High 5 Gainers

Synapse

SYN is the day’s largest gainer, rising 43.37% over the reporting interval to $1.21 as of press time. The Synapse ecosystem token elevated 39% during the last seven days. Its market cap stood at $168.95 million.

Magic

MAGIC grew 34.39% to $1.79 as of press time. The NFT-related token rose by over 250% within the final 30 days. Its market cap stood at $375.72 million.

Loopring

LRC gained 24.68% over the reporting interval to commerce at $0.43 as of press time. The Layer-2 resolution has seen renewed consideration attributable to its low cost fuel charges for ERC20 and NFT transactions. Its market cap stood at $565.68 million.

Optimism

OP is one other layer2 resolution on the highest gainer’s record. Its OP token surged 23.08% to a different all-time excessive of $2.785. Transaction quantity on the protocol peaked at over 800,000 in January when curiosity in its ecosystem was excessive. Its market cap stood at $651.98 million.

Hex

HEX jumped 19.9% to $0.032 as of press time. Curiosity within the PulseChain testnet v3 has reached a fevered excessive, with many neighborhood members speculating concerning the launch date. Its market cap stood at $5.63 billion.

High 5 Losers

Wrapped Everscale

The wrapped model of Everscale, WEVER, is the day’s largest loser. The token fell by 31.27% to $0.11 as of press time. The token seems to have shed a few of its Feb. 1 positive factors. Its market cap stood at $195.91 million.

Everscale

EVER is on the highest loser’s record for the second consecutive day. The token decreased by 3.32% over the reporting interval to $0.11 as of press time. The challenge’s optimistic value efficiency during the last 30 days noticed it rise by greater than 300%. Its market cap stood at $193.62 million.

Standing

SNT plunged 1.92% to $0.034  as of press time. The token rose by over 80% within the final 30 days. Its market cap stood at $137.7 million.

Gemini Greenback

GUSD is down 0.51% within the final 24 hours to $0.99 as of press time. The stablecoin has seen elevated scrutiny following the current points plaguing its guardian firm, Gemini. The stablecoin briefly depegged earlier within the week. Its market cap stood at $605.82 million.

MobileCoin

MOB misplaced 0.31% within the final 24 hours to commerce at $1.45 as of press time. The privacy-focused asset has plunged by 43% within the earlier 30 days. Its market cap stood at $108.17 million.