Cryptocurrency Price Today: Bitcoin Rises Above $24,000 For The First Time Since June 2022
Cryptocurrency price on February 16 quick take: The BLUR token saw a 24-hour jump of nearly 50 percent.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to climb above the $24,000 mark for the first time since June last year. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — managed to see impressive gains across the board. The BLUR token emerged to be the biggest gainer of the lot, as the NFT platform saw a volume of $500 million as it executed its latest airdrop. BLUR saw a 24-hour gain of over 48 percent.
The global crypto market cap stood at $1.11 trillion at the time of writing, registering a 24-hour gain of 8.55 percent.
Bitcoin (BTC) price today
Bitcoin price stood at $24,707.30, registering a 24-hour gain of 11.61 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 20.30 lakhs.
Ethereum (ETH) price today
ETH price stood at $1,691.06, marking a 24-hour gain of 9.17 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.34 lakhs.
Dogecoin (DOGE) price today
DOGE registered a 24-hour gain of 4.81 percent, as per CoinMarketCap data, currently priced at $0.08971. As per WazirX, Dogecoin price in India stood at Rs 7.47.
Litecoin (LTC) price today
Litecoin saw a 24-hour profit of 6.61 percent. At the time of writing, it was trading at $101.94. LTC price in India stood at Rs 8,399.16.
Ripple (XRP) price today
XRP price stood at $0.4013, seeing a 24-hour gain of 5.13 percent. As per WazirX, Ripple price stood at Rs 33.11.
Solana (SOL) price today
Solana price stood at $23.78, marking a 24-hour jump of 9.95 percent. As per WazirX, SOL price in India stood at Rs 2,010.
Top crypto gainers today (February 16)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Blur (BLUR)
Price: $1.15
24-hour gain: 48.44 percent
OKB (OKB)
Price: $50.30
24-hour gain: 20.13 percent
Render Token (RNDR)
Price: $2.03
24-hour gain: 19.05 percent
Optimism (OP)
Price: $2.82
24-hour gain: 18.28 percent
Flow (FLOW)
Price: $1.19
24-hour gain: 15.03 percent
Top crypto losers today (February 16)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
PAX Gold (PAXG)
Price: $1,824.42
24-hour loss: 0.44 percent
Dai (DAI)
Price: $0.9993
24-hour loss: 0.06 percent
Pax Dollar (USDP)
Price: $0.996
24-hour loss: 0.03 percent
Tether (USDT)
Price: $1.00
24-hour loss: 0.02 percent
TrueUSD (TUSD)
Price: $0.9994
24-hour loss: 0.02 percent
What crypto exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “In the past 24 hours, Bitcoin hovered above the $24,000 mark. The rise is due to investors liquidating their positions and increasing prices. BTC has seen a 61 percent increase from its low point one month ago and has now reached a two-week high, climbing over 11 percent over the previous day. If the bullish trend continues, BTC may reach $25,000 soon. Ethereum also saw a 9 percent increase and is currently trading near the $1,700 level. Overall, there is bullish sentiment in the market.”
WazirX Vice President Rajagopal Menon said, “Bitcoin has risen significantly since the previous day with increased activity on the network, short selling by investors, and overall positive sentiment in the market, especially in the US. Ethereum too had a significant 24-hour increase in its price, with increased buying pressure in the market. NFT marketplace Blur reached a whopping $500 million in volume in 24 hours due to its latest airdrop. Ninety percent of 360 million tokens which were airdropped, were claimed by users, thus making this event a success. The total value of Blur tokens increased by $10 million. Enterprise analytics platform MicroStrategy rose by 9 percent. The platform is one of the largest Bitcoin holders.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “The current price of Bitcoin is $22,974 with a trading volume of $25 billion in the last 24 hours. Its price is up nearly 4 percent but is expected to face significant resistance at $24,300. If Bitcoin successfully breaks this resistance level, it could climb up to $25,250 and potentially $26,850. However, in the case of a bearish trend, immediate support levels are found at $22,375 and $21,300.”
Kunji founder Anurag Dixit offered his take, “Bitcoin has experienced a surge in value, surpassing $24,700 to reach its highest point in six months, due in part to an increase in institutional adoption and interest from major corporations. The digital currency's recent ascent has been driven by various factors, including the creation of a new unit by the Bank of New York Mellon that assists clients in holding, transferring, and issuing digital assets. However, it is important to exercise caution regarding the sustainability of this rally, as macroeconomic factors have not yet improved significantly."
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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