At the time of writing, the value of the crypto economy has reached $1.93 trillion, with bitcoin alone accounting for $1 trillion of this total. Bitcoin and ethereum have experienced increases of 4.2% and 5.3%, respectively. Meanwhile, a few crypto assets have posted even more significant gains against the U.S. dollar. DYM surged by 16.8%, STX soared 16.1%, and SEI enjoyed a 15.5% uptick in the last 24 hours.
Bitcoin, Ethereum, and Several Altcoins See Robust Gains
On Feb. 14, 2024, also celebrated as Valentine’s Day, the crypto economy saw a 3.51% rise from the previous day, totaling a valuation of $1.93 trillion. BTC reached a peak of $52,093 on Wednesday before sliding back, just below the $52K threshold. At 7:21 p.m. Eastern Time on Wednesday evening, the price of bitcoin is back above the $52,000 range.
Despite this, the leading digital currency has climbed 4.2% today and now commands 52.5% of the crypto market’s total value. ETH’s price has reached $2,780 per unit, marking a 5.3% rise, with its market capitalization holding a 17.2% share of the crypto economy.
Among the top performers of the day, dymension (DYM) stood out, registering a 16.1% increase against the greenback. With the inclusion of DYM, five cryptocurrencies experienced double-digit growth on Wednesday.
Stacks (STX) leaped by 16.1%, sei (SEI) climbed 15.5%, and manta network (MANTA) increased by 11.5%. In the same 24-hour timeframe, immutable x (IMX) also enjoyed an 11.3% uptick in its price.
Overall, 28 distinct digital currencies recorded gains of more than 5% against the dollar in Wednesday’s trading sessions. Additional crypto assets that stood out for their performance include VET, BONK, JUP, FLOW, BGB, MNT, and TAO.
The day’s top trade volumes went to solana (SOL), binance coin (BNB), and xrp (XRP). On Wednesday, just four cryptocurrencies experienced downturns, with astar (ASTR) topping the list of decliners.
ASTR fell by 3.1%, cosmos (ATOM) decreased by 1.3%, and frax shares (FXS) dipped slightly by 0.31% against the dollar. Throughout the day, the cryptocurrency market recorded a global trade volume of $83.14 billion.
Apart from ETH and BTC, a notable number of short positions in various altcoins were also observed, including the elimination of $7.10 million in SOL shorts. Additionally, significant short positions in DYM, PYTH, AVAX, BCH, and IMX were wiped out.
Source: Bitcoin
