Crypto Price on February 8: Bitcoin soars above $44,400 as Cardano and Solana see 6% gains

In Thursday’s session, the cryptocurrency markets saw gains driven by Solana, BNB, Ethereum, and Bitcoin. In the past day, the value of the worldwide cryptocurrency market increased by 3.3% to over $1.71 trillion.

Ethereum was up 2.52% at $2,421, while Bitcoin was up 3.63% at $44,486, in the market. Avalanche, Polygon, Polkadot, Internet Computer, BNB, Solana, Cardano, and Shiba Insu were among the other altcoins that had 3-6% increases. Tron, Toncoin, Dogecoin, and XRP all increased by 1% to 3%.

The recent surge in interest in Bitcoin and its volume may be linked to the popularity of Bitcoin ETFs and the good perceptions around them. After Bitcoin’s dominance declines over the next few weeks, altcoins could see potential upside with strong volume.

After successfully breaking through the $44,000 obstacle, Bitcoin is now aiming to move toward $46,000.

Currently, DeFi’s total volume is $4.53 billion, or 8.31% of the 24-hour volume of the whole cryptocurrency market. According to data available on CoinMarketCap, the total amount of stablecoins is currently $50.82 billion, or 93.3% of the entire 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, saw a rise in market capitalization to $873 billion in the past day. Currently, 51.28% of the market is dominated by Bitcoin, according to CoinMarketCap. The volume of BTC rose to $23.8 billion in the last day, a 38.2% rise.

The $44,800 mark serves as Bitcoin’s immediate obstacle, and a rise to $45,000 might trigger still another significant rise. In the event that Bitcoin experiences a downturn, $44,300 is the level of support.