The price of Bitcoin and many digital assets rose sharply on Monday as the entire market value of the cryptocurrency economy has risen by 2.4% in the past 24 hours. The price of Bitcoin broke through the psychological zone of $50,000 after falling to a low of $43,021 the day before Sunday.
Bitcoin (BTC) hit a high on approximately July 26 on Monday, March 1 (Eastern Time), at $50,244 per unit. At the time of publication, the overall market value of BTC was approximately US$926 billion, and the global trade volume was US$22.83 billion. The current price is more than 15% higher than the lowest price of $43,021 on February 28.
Among all existing crypto assets, BTC’s market dominance is 61.02% of today’s $1.44 trillion market value. Bitcoin is still down 8% this week, but has gained 44.92% against the U.S. dollar in the past 30 days.
The second largest market capitalization is Ethereum (ETH), which currently trades at $1,583 per coin. In the past 24 hours, ETH has risen by more than 9%, but in 7 days, Ether has fallen by 12%. The 30-day odds against the US dollar show that ETH has risen by 13.19% today.
Cardano (ADA) still ranks as the third largest market valuation because each ADA changes hands at a price of $1.29 per unit. Since crypto assets only increased by 1.8%, ADA’s gains on Monday were not noticeable. However, the token rose by 18% in the last week and by 256% in the past month.
As of press time, Binance Tokens (BNB) have risen by 18%, and the price of each token is $262. The exchange rate of BNB against the U.S. dollar fell by 4.4% last week, but 30-day statistics show that BNB has risen by 470%.
The Tether (USDT) stablecoin has fallen to fifth place this week, and its trading volume has increased during the downturn in the crypto economy. The trading volume of USDT is currently greater than that of BTC on March 1, 2021.
Cryptocurrency prices are currently rising. After seeing many major bull traps last week. Especially Bitcoin prices in March, as well as other encrypted asset markets, generally performed well this month. Historically, except for March 12, 2020, it is called “Black Thursday”.
To many observers, it seems that we have encountered two small speed bumps in the range of 20% to 25%. Twitter account is called “Bitcoin Archive” famous In the bull market of 2017,[six] Correct 30-40%”, and then each item” [an] The average return is 153%. “
Paolo Ardoino, CTO of Bitfinex, stated in an investor report on Monday: “With the recovery of the cryptocurrency market at the beginning of this week, Bitcoin seems to have rebounded.” The background of strong institutional demand and long-term investor interest may be Say here, but time will prove everything. “Ardoino added.
The Bitfinex CTO further stated: “Those pictures similar to the bursting of the encryption bubble in 2017 may not illustrate the technological progress since then. We believe that the entire technological infrastructure of space will prove itself strong.”
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