24 Hrs Crypto Update, Jan 31: DOGE and ADA Rebounce Huge
Ahead of the Fed meeting, the crypto market is up. Today, Bitcoin reversed from $23,224, a significant resistance area for the previous two weeks.
Derivates shows positive funding rates which means crypto will turned green in the coming hours.
Crypto Market Turned Green
The Crypto market is in the green ahead of the Fed meeting. Today, Bitcoin reversed from $23,224 which is a major resistance zone for last few weeks. Bitcoin trading at $22,887 getting resistance from MA9 and respecting the support of $22,700 and RSI remains positive at 69.12. The global crypto market cap remained above the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) –Green.
The global cryptocurrency market cap rise by 0.76% to $1.09 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 $67.37 billion.
Cryptoquants Derivates shows positive funding rates which means crypto will turned green in the coming hours.
BTC price has rise by 0.25% in the last 24 hours. At the time, BTC was trading at $22,908. In the last 7 days, BTC price has rise by 0.51%. Bitcoin (BTC) dominance fall from 41.08% to 40.95% while ETH dominated 20.5% of the total crypto markets.
Top Crypto Prices
Ethereum (ETH): Ethereum price rise by around 0.24% to $1,570 in the last 24 hours. In the last 7 days, ETH price has fall by over 3.4%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.
Solana (SOL): Solana price fall 1.24% to $23.68 in the last 24 hours. In the last 7 days, SOL price has fall by nearly 2.83%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.
Dogecoin’s (DOGE) price rise by 3.41% in the last 24 hours. DOGE is currently ranked 9th. The price of DOGE at the time of this report was $0.09458.
Polygon (MATIC) price rise by around 1.18% to $1.007 in the last 24 hours. In the last 7 days, MATIC price has rise by around 10.5%. It is currently ranked 10th on CoinGabbar.
Shiba Inu (SHIB) fall by 1.44% in the last 24 hours to $0.00001168. It is currently ranked 16th on CoinGabbar.
Major Events
Mastercard and Binance have said that a prepaid card backed by bitcoin and other cryptocurrencies will be available in Brazil. Brazil probably has the largest economy in Latin America. The Brazilian version will allow all new and existing Binance users in Brazil with a valid national ID to make purchases and pay bills with cryptocurrencies.
Yoshitaka Kitao, a member of the Ripple Board and the CEO of SBI Group, is still optimistic about the potential of XRP and continues to give out tokens for the benefit of shareholders.
A number of US senators have written a letter to Silvergate Capital, the parent organisation of Silvergate Bank, demanding information about the demise of crypto exchange FTX.
