Bitcoin’s market capitalization approaches $1T, whereas Ether trades at $2,500.
It’s been a very good week within the crypto markets, with eight of the highest 10 tokens by market capitalization posting stable positive aspects over the previous seven days.
Bitcoin is presently buying and selling round $47,600 after briefly surpassing the $48,000 mark earlier right now, notching a ten.7% acquire on the week. Its market capitalization is approaching the trillion-dollar milestone, with Coingecko reporting it at $934B.
Ethereum is altering palms for $2,500, a 9% surge over the previous seven days. The community’s market cap has surpassed $300B on the time of writing.
All prime 10 tokens that aren’t stablecoins are having fun with positive aspects. Binance Coin (BNB) lands in third place, buying and selling for $322 with a 7.4% worth rise over the previous seven days.
Among the many prime 100 digital property, Solana memecoin BONK and Layer 1 blockchain Sui are right now’s best-performing tokens, gaining 21% and 18%, respectively. In the meantime, AI venture Bittensor is up 15% to $508.
Spot Bitcoin ETFs appeal to $400M
Driving the short-term positive aspects seems to be rising investor curiosity in spot Bitcoin ETFs. On Feb. 8, the sector noticed $403M in internet inflows, the best since Jan. 17, when inflows topped $453M.
Demand for Bitcoin from the 9 ETF suppliers reached 9,000 BTC yesterday – ten instances the quantity of Bitcoin that’s issued every day as block rewards.
In accordance with Bloomberg analyst James Seyffart, eight of the 9 suppliers took in cash yesterday. Constancy’s FBTC has surpassed $3B in AUM, whereas Grayscale’s GBTC outflow streak continued with $101M.
