Cryptocurrency Price Today: Bitcoin Remains Above $52,000 As Global Market Cap Approaches $2 Trillion
Cryptocurrency price on February 16 quick take: The global market cap jumped to $1.97 trillion.
Bitcoin (BTC), the oldest and most valued cryptocurrency in the world, remained stable above the $52,000 mark early Friday as the global market cap slowly inches toward the $2-trillion landmark. Other top coins, including the likes of — Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the greens across the board. The VeChain (VET) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 23 percent. Stacks (STX), which was the biggest gainer yesterday, became the biggest loser, with a 24-hour dip of over 6 percent.
The global crypto market cap stood at $1.97 trillion at the time of writing, registering a 24-hour gain of 0.74 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $52,339.28, registering a 24-hour jump of 0.11 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 45.32 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,847.10, marking a 24-hour gain of 1.75 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.46 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 0.44 percent, as per CoinMarketCap data, currently priced at $0.0866. As per WazirX, Dogecoin price in India stood at Rs 7.42.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.12 percent. At the time of writing, it was trading at $70.48. LTC price in India stood at Rs 6,100.
Ripple (XRP) Price Today
XRP price stood at $0.5759, seeing a 24-hour jump of 3.92 percent. As per WazirX, Ripple price stood at Rs 49.58.
Solana (SOL) Price Today
Solana price stood at $113.82 marking a 24-hour dip of 2.38 percent. As per WazirX, SOL price in India stood at Rs 9,916.86.
Top Crypto Gainers Today (February 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
VeChain (VET)
Price: $0.04598
24-hour gain: 23.65 percent
Arweave (AR)
Price: $11.77
24-hour gain: 19.09 percent
Bitget Token (BGB)
Price: $0.8851
24-hour gain: 12.05 percent
Ronin (RON)
Price: $3.06
24-hour gain: 11.87 percent
Sei (SEI)
Price: $1.01
24-hour gain: 10.48 percent
Top Crypto Losers Today (February 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Stacks (STX)
Price: $2.56
24-hour loss: 6.86 percent
Beam (BEAM)
Price: $0.02798
24-hour loss: 5.89 percent
Dymension (DYM)
Price: $7.67
24-hour loss: 5.63 percent
Klaytn (KLAY)
Price: $0.2316
24-hour loss: 4.45 percent
Akash Network (AKT)
Price: $3.50
24-hour loss: 4.39 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin continued to trade above $52,000 in the past 24 hours with an over $1 trillion market cap. The surge came with significant inflows of Bitcoin spot ETFs and rise in demand from U.S investor’s for the largest digital asset. The next psychological level of Bitcoin is at $55,000 which will drive towards $60,000 level and above. 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.”
Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “After almost touching $53k, BTC minorly retraced its price in the last 24 hours; currently trading just below $52k. However, the primary driver for the recent price action seems to be the institutional demand being generated from the U.S. Since the launch of Spot BTC ETFs, Gold ETFs have seen heavy outflows, suggesting that it is being partly pitched as a modern substitute for gold investments.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's recent 20% rise to $52,000 underscores cautious optimism amid mixed U.S. economic indicators. While better manufacturing data contrasted with a drop in retail sales, jobless claims indicated a strong labor market. Increased import prices indicate inflationary pressures, potentially driving investors to bitcoin as a hedge. Looking ahead, data on the core producer price index, building permits and consumer sentiment will influence Bitcoin's appeal. Technical analysis suggests resistance at $52,375 and potential support at $48,200. Meanwhile, Bitcoin Minetrix aims to revolutionize mining with its stake-to-mine platform, raising over $10 million in funding. Investors can get BTCMTX tokens for $0.0135 each, offering a double income stream. With funding nearing its $11.85 million goal, now is the time to take advantage of the opportunity with Bitcoin Minetrix.”
Shivam Thakral, CEO of BuyUcoin, said, “After a good rally last week, Bitcoin could make a pull back to the $49,000-$50,000 as it failed to break the $53,000 level resistance yesterday. At the same time a break out above 53,000 could send Bitcoin all the way up to $57,000. However there is a lot of Bitcoin inflow from the ETF indicating the continuation of bullish pressure. Longtime Bitcoin believer, Michael Saylor's Microstrategy now owns Bitcoin worth over $10 BILLION, amassing a profit of more than $4 billion which could inspire investors looking to capitalize on the long-term growth prospects of cryptocurrencies.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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