Crypto Price on February 16: Bitcoin above $52,000; BNB, Polygon jump over 6%
Overnight, data showed that US retail sales fell by 0.8% in January, the sharpest drop in 10 months.
At 11:34 a.m., Bitcoin was trading 0.22% higher at $52,074, while Ethereum was up 2.5% at $2,842. Meanwhile, the global cryptocurrency market cap surged 1% to around $1.96 trillion in the last 24 hours.
«In the past 24 hours, Bitcoin was seen changing hands between $51,900 and $52,700, sustaining a market cap exceeding $1 trillion. The surge in value was fueled by substantial investments in Bitcoin spot ETFs and an increased appetite from US investors for the primary digital asset,» said Edul Patel, CEO of Mudrex.
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View Details»«In contrast, Ethereum has outpaced Bitcoin in terms of weekly gains, attributed to the upward movement in Ethereum staking. The momentum suggests that Ethereum might breach the $3,000 threshold in the next few days,» he said.
Other altcoins such as BNB, XRP, Cardano, and Polygon surged 4-7%. Chainlink, Polkadot, Toncoin, Internet Computer, and Shiba Inu also gained up to 3%. However, Solana and Avalanche declined up to 2%.
The total volume in DeFi is currently $7.29 billion, 8.29% of the total crypto market 24-hour volume. The volume of all stablecoins is now $80.34 billion, which is 91.3% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In last 24 hours, the market cap of
