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Bitcoin Crosses $42k, Ethereum Above $3k, Meme Coins Shine -Breaking

by Mike Robinson

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Crypto Market Weekend Recovery – Bitcoin crosses $42k; Ethereum surpasses $3k; Meme Coins shine

February has brought a breath of fresh air for crypto investors who were made to endure January, Bitcoin’s worst outing since 2018. This weekend saw the biggest rallies in crypto markets since November 2021.

This rally saw the global cryptocurrency market cap rise by more than $200 billion and briefly reach $2 trillion, the highest level since Jan 20. The global crypto market had a cap of $1.73 trillion on Friday morning but is now worth $1.928 trillion.

A one-month overview of the global cryptocurrency market. Source: Tradingview

There is relief for

Bitcoin led the charge with a 15% increase in transactions since Friday February 4. Bitcoin was open for trading on Friday, February 4, at 37:00. Now it trades at 42:30.680.

Bitcoin price chart (BTC), as of Friday. Source: Tradingview

Ethereum traded above $3,000 for the first-time in over two weeks during the rally. Ethereum traded at $3,080 on February 4, with a value of $2,681 at the opening. Ethereum has gained more than 15% in three days.

This is the Ethereum price chart over three days. Source: Tradingview

and (SHIB), Ripple’s Shows Massive Comeback

The market rallied despite the fact that all 50 of the most popular altcoins traded in the green.

In the 24 hour period, Shiba Inu, (SHIB), has seen a more than 22% increase to reach $0.00002768. Dogecoin, however, has experienced a 7% gain.

This is the 24 hour price chart for Shiba Inu. Source: Tradingview

In the last 24 hours, XRP has gained 15% and now trades at $0.7655 – its highest price since January 18.

Flipside

  • Some still think that cryptocurrency could even be a viable option despite it being a $2 Trillion industry. Boiler ready to burst.

What You Need to Care About

This crypto rally was a welcome breath of new air for investors and helped market move out of fear to the neutral zone of the Fear and Greed Index.

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