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24 Hrs Crypto Update, Feb 27: Bitcoin Remains Under $24,000

Key Takeaways
  • On Monday, the crypto market experienced a slight dip to kick off the week. The morning's gains for both Bitcoin and Ethereum were quickly reversed.
28-Feb-2023 By: Simran Mishra
24 Hrs Crypto Update

Crypto Market Decline

The week's start for Crypto Market saw a little decline on Monday. Both Bitcoin and Ethereum erased their early morning gains on Monday.

The growth of Bitcoin (BTC) this year has yet to spur extensive investment in stablecoins and other crypto assets.

Major stablecoin indications indicate that despite the 43% increase in BTC and the 38% increase in ether (ETH) in 2023, a sizable amount of capital is still dormant.

Bitcoin trade volume occasionally decreased below its 20-day average. This also applies to ETH, which has recently traded at a lower price but with ordinary to below-average volume. The current levels of support for BTC and ETH appear to be approaching $23,000 and $1,630, respectively.

The global cryptocurrency market cap fall by 0.43% to $1.12 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 $59.58 billion.

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

BTC price has fall by 0.28% in the last 24 hours. At the time, BTC was trading at $23,492, and reject from the $23,897 mark. In the last 7 days, BTC price has fall by 3.32%. Bitcoin (BTC) dominance rise from 40.15% to 40.35% while ETH dominated 21.9% of the total crypto markets.

Top Crypto Prices

Ethereum (ETH): Ethereum price fall by around 0.5% to $1,633 in the last 24 hours. In the last 7 days, ETH price has fall by over 2.84%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.

Solana (SOL): Solana price fall 2.35% to $22.68 in the last 24 hours. In the last 7 days, SOL price has fall by nearly 8.6%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.

Dogecoin’s (DOGE) price fall by 1.02% in the last 24 hours. DOGE is currently ranked 11th. The price of DOGE at the time of this report was $0.08136.

Polygon (MATIC) price fall by around 3.73% to $1.2345 in the last 24 hours. In the last 7 days, MATIC price has fall by around 16.72%. It is currently ranked 9th on CoinGabbar.

Shiba Inu (SHIB) fall by 2.55% in the last 24 hours to $0.00001251. It is currently ranked 15th on CoinGabbar.

Major Events

The cryptocurrency exchange will stop trading Binance USD (BUSD) on March 13 as a result of an internal examination, according to the most recent Coinbase news.

Attorney for XRP John Deaton questioned the news coverage of SEC chairman Gary Gensler's recent remarks regarding cryptocurrencies being securities.

Recent rumours indicate that following the crypto crash in 2022, Binance, the largest cryptocurrency exchange in the world, shifted user assets.

Recent LUNC news indicates that supporters of Terra Classic have expressed concern about the growing number of validators who are offering zero commissions.

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