Crypto Price on February 8: Bitcoin surpasses $44,400; Solana and Cardano rise up to 6%

The cryptocurrency markets were up on Thursday, led by Bitcoin, Ethereum, BNB, and Solana. In the last 24 hours, the global cryptocurrency market capitalization increased by 3.3% to over $1.71 trillion.

Bitcoin was up 3.63% at $44,486, while Ethereum up 2.52% to $2,421. Other altcoins gained by 3-6%, including BNB, Solana, Cardano, Avalanche, Polygon, Polkadot, Internet Computer, and Shiba Insu. XRP, Dogecoin, Tron, and Toncoin increased 1-3%.

This increased demand and volume for Bitcoin could be due to the Bitcoin ETF mania and good mood surrounding it. Altcoins may see potential gains with high volume in the coming weeks as Bitcoin’s dominance declines.

Bitcoin has successfully broken through its $44,000 resistance level and is now targeting $46,000.

DeFi’s total volume is currently $4.53 billion, accounting for 8.31% of the total cryptocurrency market’s 24-hour volume. According to CoinMarketCap data, the entire amount of stablecoins is now $50.82 billion, accounting for 93.3% of the whole crypto market’s 24-hour volume.

Bitcoin, the world’s largest cryptocurrency, has seen its market capitalization rise to $873 billion in the last 24 hours. According to CoinMarketCap, Bitcoin now has a dominance of 51.28%. In the last 24 hours, BTC volume jumped by 38.2% to $23.8 billion.

Bitcoin’s immediate resistance is above $44,800, and $45,000 might be the start of another solid gain. If Bitcoin experiences a correction, it will find support at $44,300.