As of this writing, the cryptocurrency market is worth $1.93 trillion, of which $1 trillion is attributed to bitcoin alone. There has been a 5.3% increase in Ethereum and a 4.2% increase in Bitcoin. A few cryptocurrency assets, however, have seen even bigger increases in value relative to the US dollar. In the past day, DYM increased by 16.8%, STX increased by 16.1%, and SEI increased by 15.5%.
Strong Gains Are Saw by Bitcoin, Ethereum, and Several Other Altcoins
Valentine’s Day is observed on February 14, 2024. The previous day saw a 3.51% increase in the value of the cryptocurrency market, which now stands at $1.93 trillion. On Wednesday, Bitcoin hit a high of $52,093 before falling back, barely breaking the $52K mark. Wednesday night, at 7:21 p.m. Eastern Time, the price of bitcoin is once again above the $52,000 mark.
In spite of this, the top digital currency increased 4.2% today and now holds 52.5% of the entire value of the cryptocurrency market. With a 5.3% increase in price to $2,780 per unit, ETH’s market capitalization now controls 17.2% of the cryptocurrency market.
Dymension (DYM), one of the day’s best performers, stood out with a 16.1% increase against the US dollar. Five cryptocurrencies saw double-digit gains on Wednesday after DYM was added.
Sei (SEI) shot up 15.5%, stacks (STX) shot up 16.1%, and manta network (MANTA) shot up 11.5%. Over the course of the same 24-hour period, the price of immutable x (IMX) increased by 11.3% as well.
In the course of Wednesday’s trading sessions, 28 different digital currencies had increases of more than 5% in relation to the dollar. A few more cryptocurrency assets that performed particularly well are VET, BONK, JUP, FLOW, BGB, MNT, and TAO.
The three most traded coins of the day were xrp (XRP), binance coin (BNB), and solana (SOL). Only four cryptocurrencies saw decreases on Wednesday, with astar (ASTR) leading the pack.
ASTR experienced a 3.1% decline, Cosmos (ATOM) saw a 1.3% fall, and Frax shares (FXS) saw a minor 0.31% decline versus the dollar. The cryptocurrency market had $83.14 billion in global trade activity during the day.
In addition to ETH and BTC, a significant amount of short positions in other altcoins were also noted, with $7.10 million in SOL shorts eliminated. Important short positions in DYM, PYTH, AVAX, BCH, and IMX were also eliminated.
Regarding the cryptocurrency winners and losers on Valentine’s Day, what are your thoughts? Please share your thoughts on this topic in the space provided for comments below.