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The stagnation in Bitcoin (BTC) price and its persistence above the $52,000 level has led to various developments in cryptocurrencies. During this period, ETH exceeded the $2,800 level for the first time since 2021. In the last 24 hours, major altcoins like XRP and Binance Coin (BNB) continued to show a positive trend.
Current State of Cryptocurrencies
The Bitcoin price continues to hold the $52,000 level, a first since December 2022. On Friday, February 16, Bitcoin’s price saw a modest increase of 0.23%, trading at $52,182.91.
Following the recent hype, there has been a decrease in interest, and the trading volume has fallen by 18.09% in the last 24 hours, settling at $35.80 billion. Bitcoin’s market capitalization continues to stay above the $1 trillion mark.
Looking closer at altcoins, Ethereum’s price is trading at $2,844.20, with a market value of $341.79 billion and a 1.74% increase at the time of writing.
ETH’s trading volume has decreased by 6.36% during this period, reaching $22.29 billion. The price of Binance Coin (BNB), the native token of the Binance exchange, has reached $361.37, a 5.96% increase, moving well away from the critical $300 level mentioned months ago. In parallel with the price increase, the 24-hour trading volume also rose by 60.69%, reaching $1.71 billion.
Despite a drop in Solana’s price, it continues to trade well above the $110 level. The 2.85% decrease in SOL price triggered a pullback to $113.41. Additionally, SOL’s 24-hour trading volume saw an 8.89% decrease, falling to $2.34 billion.
On the other hand, the price of XRP has surpassed the $0.57 level. Following a 4.36% increase, the price of XRP rose to $0.577.
In the meme coin sector, Dogecoin, leading the list, fell by 0.50% to $0.08644, while its closest competitor and Ethereum network’s favorite, Shiba Inu, saw a 1.09% increase, trading at $0.000009961. It was also noted that SHIB momentarily rose to $0.00001 yesterday.
VeChain Records a 31% Surge
VeChain (VET) continued its upward trend today, emerging as the cryptocurrency with the highest gains. A 31.09% increase in VeChain’s price has lifted it to $0.04949 at the time of writing. Furthermore, the trading volume experienced a massive increase of 529.36%, rising to $841.09 million.
Sei (SEI) is another altcoin that has caught attention in the cryptocurrency market. SEI has seen a 14% increase in the last 24 hours, trading just below $1, at $0.9905.
