Current Cryptocurrency Price: The leading cryptocurrency, Bitcoin, has broken through the $60,000 barrier.
Cryptocurrency Price Today: In a historic move, the leading cryptocurrency, Bitcoin, has broken above the $60,000 mark and surpassed $61,000 for the first time since November 2021. In the last week, this incredible rally has seen Bitcoin rise above 20%, reaching a high of $64,065 before a small decline to $59,400. But Bitcoin soon recovered, and it is currently trading at $61,850, a whopping 9% increase in just one day. $65,000 is the next important resistance level to keep an ey
According to statistics from CoinGlass, the sharp increase in the price of Bitcoin caused substantial liquidations throughout the cryptocurrency market, with close to $700 million in crypto assets being sold off in only the last day. This sell-off had a knock-on effect on the digital asset market, with the CoinDesk20 Index plunging over 5% on Wednesday. Significant drops of 4% to 9% were also seen in several well-known cryptocurrencies, including as Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Dogecoin (DOGE), and Avalanche (AVAX).
Widespread liquidations of leveraged trading positions resulted from the abrupt price drop, which was reminiscent of the large liquidation event that occurred last August when Bitcoin crashed to $25,000 and $1 billion in derivatives contracts across all cryptocurrencies were wiped out. Both long and short positions were impacted by the recent liquidations, which was indicative of the turbulence and uncertainty in the market.
The cryptocurrency market shown endurance in the face of volatility, as major cryptocurrencies recovered in the early hours of February 29. With a startling 13% increase to $122, Solana took the lead while Ethereum was just below $3,500. The market capitalization of all cryptocurrencies combined is at $2.28 trillion, up 6.19% from the previous day.
Amidst market oscillations, a number of cryptocurrencies surfaced as the top gainers over the course of the day. Bonk Coin emerged as the leader with a remarkable 51.16% increase, trailed by JasmyCoin’s 34.45% rise. Significant increase was also seen by Dogecoin, Arweave, and Aptos, demonstrating the dynamic character of the cryptocurrency market.
Top Gainers of February 29
Bonk (BONK)
Price: $0.00002093
24h Change: 51.16%
Volume (24h): $794,119,863
With its peculiar moniker, Bonk has seen a remarkable price increase, positioning it as one of the top performers in the cryptocurrency market. The percentage growth indicates significant trading activity and investor interest, even with its low nominal value.
JasmyCoin (JASMY)
Price: $0.02233
24h Change: 34.45%
Volume (24h): $1,412,015,037
The price of JasmyCoin, which is represented by the JASMY ticker, has increased significantly along with a significant rise in trading volume. The technology, collaborations, community involvement, and project behind JasmyCoin could all be factors in the price appreciation of the cryptocurrency.
Dogecoin (DOGE)
Price: $0.1258
24h Change: 32.33%
Volume (24h): $4,635,126,298
Originally designed as a parody cryptocurrency, Dogecoin has surprised everyone by becoming a major force in the market. Recent price increases indicate that traders and investors are once again becoming interested in it.
Arweave (AR)
Price: $28.34
24h Change: 23.37%
Volume (24h): $624,895,422
The price of Arweave, which is symbolized by the AR ticker, has increased significantly along with the volume of trading. The cryptocurrency world has taken notice of Arweave’s innovative approach to decentralized storage and data permanence.
Aptos (APT)
Price: $12.36
24h Change: 23.07%
Volume (24h): $1,279,077,471
The APT ticker, which represents Aptos, has shown a notable spike in price during the last day along with a notable rise in trading volume. The price movements of Aptos are influenced by its underlying technology, use cases, and market sentiment.
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