Cryptocurrency Prices as of February 7th: Bitcoin Maintains Position Above $43,000; Ethereum and Tron Experience Upward Movement of Up to 3%

In Wednesday’s trading session, the cryptocurrency markets experienced marginal gains, primarily driven by Bitcoin, Ethereum, Tron, and BNB. The overall global cryptocurrency market cap saw a 0.67% increase, reaching approximately $1.65 trillion within the past 24 hours.

As of 11:26 a.m., Bitcoin exhibited a 0.65% uptick, trading at $43,016, while Ethereum demonstrated a notable increase of 2.34%, reaching $2,365. Various altcoins like BNB, Solana, Dogecoin, Tron, Polkadot, Polygon, and Litecoin also witnessed rises of up to 3%. Conversely, XRP, Cardano, Chainlink, Toncoin, Shiba Inu, and Internet Computer faced declines.

The cryptocurrency market remained stable, with Ethereum outperforming Bitcoin, evident from the rising ETH/BTC pair, according to the CoinDCX Research Team. “BTC continued to hover below the critical resistance zone of $44,000-$45,000, maintaining a consolidation phase. In contrast, ETH approached the upper boundary of its range at $2,380, holding just below it. Furthermore, it remains above the 20 and 50 Exponential Moving Averages (EMA), signaling a positive trend,” stated CoinDCX.

On a separate note, CoinSwitch Markets Desk noted, “Ethereum (ETH) demonstrated strength over the last 24 hours, reaching its 16-day high, with its top layer-2s like OP and ARB following suit. This may indicate a potential layer-2 rally if ETH continues to surge further from this point.”

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