24 Hrs Crypto Update, Feb 17: Polkadot (DOT) and Polygon (MATIC) Jumps Over 12%

Crypto Market Remains Green.

To end the week, Crypto Market increased on Friday. After a brief jump to eight-month highs on Thursday, bitcoin reached $25,000 for the second day in a row before marginally retracing. The performance of altcoins is particularly impressive; DOT increases by more than 15%, while MATIC extends its rise by 12%.

On Friday afternoon, the price of one bitcoin reached a high of $25,021, before falling to $24,569 that evening. Bitcoin surged to a new monthly high of $25,250 on Thursday morning before falling to a low of $23,340 overnight. In August of last year, Bitcoin last traded above $25,000. Until recovering 9% on Wednesday and rising beyond $24,500 in the afternoon, BTC had spent the previous five days circling around mid-January lows.

The global cryptocurrency market cap rise by 0.9% to $1.18 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $102.16 billion.

Cryptoquants Derivates shows positive funding rates which means crypto will turn green in the coming hours.

BTC price has rise by 4.47% in the last 24 hours. At the time, BTC was trading at $24,569, and reject from the $25,021 mark. In the last 7 days, BTC price has rise by 13.16%. Bitcoin (BTC) dominance fall from 39.9% to 40.7% while ETH dominated 20.98% of the total crypto markets.  

Top Crypto Prices

Ethereum (ETH): Ethereum price rise by around 3.5 % to $1,693 in the last 24 hours. In the last 7 days, ETH price has rise by over 9.71%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.

Solana (SOL): Solana price rise 3.89% to $23.14 in the last 24 hours. In the last 7 days, SOL price has rise by nearly 13.35%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.

Dogecoin’s (DOGE) price rise by 3.2% in the last 24 hours. DOGE is currently ranked 11th. The price of DOGE at the time of this report was $0.08771.

Polygon (MATIC) price rise by around 11.42% to $1.5239 in the last 24 hours. In the last 7 days, MATIC price has rise by around 23.86%. It is currently ranked 8th on CoinGabbar.

Shiba Inu (SHIB) rise by 3.8% in the last 24 hours to $0.00001317. It is currently ranked 15th on CoinGabbar.

Major Events

Stablecoins continue to be the subject of FUD in the cryptocurrency market as regulatory issues for Binance Dollar (BUSD) continue in the US.

Paul Pierce, a former NBA player, has been charged by the US Securities and Exchange Commission (SEC) with cryptocurrency crimes.

Due to a vulnerability found by Tim Beiko, the Ethereum Shanghai update, a significant improvement to the Ethereum network, may be delayed.

A regulatory framework for crypto assets is about to be introduced in Oman, giving the developing sector a much-needed boost.

A significant step forward in the country's adoption of digital currencies, Japan is getting ready to introduce its Central Bank Digital Currencies (CBDCs) in April.