24 Hrs Crypto Update, Feb 20: Bitcoin Struggling to break $25,000 Zone, Neo up by 40%
With Bitcoin gaining 2% more on Monday and once more shooting for the week's highs, the cryptocurrency market seems to exist in an other universe.
Derivates display favourable funding rates, indicating that cryptocurrency will go green in the ensuing hours.
Crypto Market Turned Green
Crypto Market appear to be living in a universe of their own, with bitcoin climbing 2% again on Monday and once more aiming for the week's highs. A break of this level may be quite significant for bitcoin and inspire a lot more interest. And everyone is aware of what happens when exhilaration and enthusiasm are present in cryptos.
Despite a quiet day in the stock market due to investors staying away from Wall Street for Presidents Day, cryptocurrencies such as bitcoin and others were climbing on Monday.
This week saw a significant increase in layer 1s with Chinese themes. NEO is up 70% over the past week while Conflux is up 500%. Both have risen by about 40% during the past day.
The global cryptocurrency market cap rise by 0.42% 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 $84.82 billion.
Cryptoquants Derivates shows positive funding rates which means crypto will turn green in the coming hours.
BTC price has rise by 2.45% in the last 24 hours. At the time, BTC was trading at $24,842, and reject from the $25,117 mark. In the last 7 days, BTC price has rise by 13.79%. Bitcoin (BTC) dominance rise from 40.3% to 40.54% while ETH dominated 21.9% of the total crypto markets.
Top Crypto Prices
Ethereum (ETH): Ethereum price rise by around 1.45% to $1,703 in the last 24 hours. In the last 7 days, ETH price has rise by over 12.27%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.
Solana (SOL): Solana price rise 5.79% to $23.84 in the last 24 hours. In the last 7 days, SOL price has rise by nearly 22.24%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.
Dogecoin’s (DOGE) price rise by 1.45% in the last 24 hours. DOGE is currently ranked 11th. The price of DOGE at the time of this report was $0.08829.
Polygon (MATIC) price fall by around 0.28% to $1.4753 in the last 24 hours. In the last 7 days, MATIC price has rise by around 19.21%. It is currently ranked 8th on CoinGabbar.
Shiba Inu (SHIB) rise by 1.16% in the last 24 hours to $0.00001349. It is currently ranked 15th on CoinGabbar.
Major Events
The cryptocurrency community is anticipating the Season 2 Airdrop, which ends in April, with great anticipation because Blur's initial airdrop was such a massive success.
One of the most valuable digital assets in the world, Bitcoin has once more eclipsed Visa in market valuation.
A new licencing system for bitcoin businesses is about to be implemented in Hong Kong, which might help to legitimate the sector and draw in more investors.
In response to having half of its assets stuck in the collapsing exchange, the hedge fund was forced to cease operations, according to a tweet sent by Galois Capital. In addition, the firm disclosed that it will repay investor funds for any leftover assets.
The co-founder of Gemini, Cameron Winklevoss, predicts that Asia will lead the next cryptocurrency bull run, giving the United States the option of joining the movement or falling behind.
