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Cryptocurrency Today: Bitcoin Above $43,000, Ether Gains, Solana dips; Know Latest Rates

By: Aparna Deb

Last Updated: February 10, 2022, 08:54 IST

The world's biggest and best-known cryptocurrency was trading above $44,000 today

The world's biggest and best-known cryptocurrency was trading above $44,000 today

Cryptocurrency Prices Today: Bitcoin, Ethereum, Cardano gained while Solana dipped marginally. Should you invest?

Cryptocurrency prices rose in today’s trading. Bitcoin, Ethereum, Cardano gained while Solana dipped marginally. The world’s most popular cryptocurrency, Bitcoin, was above the USD 43,000-mark as the global crypto market by and large was trading in green.

Ether, the coin linked to the ethereum blockchain and the second-largest cryptocurrency in terms of market capitalization also surged over 3.77 per cent to $3,193.14. It dropped to a six-month trough in late January, but since then, ether, the token used for the Ethereum blockchain, has surged about 48 per cent. While Binance Coin rose about 0.7 percent to $424.

“Bitcoin and Ethereum picked up a bit in the past 24 hours. BTC and ETH are trading above US$43,000 and US$3,000 levels. BTC’s dominance is currently 41 per cent whereas resistance lies between US$45,000 to US$47,000, and lower support price stays at US$40,000. If buyers can make a decisive move above US$40,000, the BTC’s price can get back to its peak at US$69,000. According to the market cap, the top altcoins have also attained decent growth after experiencing the dip yesterday," said Edul Patel, CEO and Co-founder, Mudrex.

Rostin Behnam, chairman of the Commodities and Futures Trading Commission (CFTC), is pushing for his agency to take a leading role in regulating digital assets. He maintains that his agency is well-positioned to provide market protection for consumers and reduce risks in the space.

Behnam made his case for expanding the CFTC’s authority in a letter to the House and Senate Agriculture Committees on Tuesday. He asserted that his agency already follows core principles that help sufficiently oversee a wide range of markets, and that the crypto market isn’t an exception.

“The digital asset market, which at present is most directly supervised through state money transmitter licenses, is unique, and presents many novel issues for the CFTC, given our limited authority to police these volatile markets," Behnam added.

FTX CEO Sam Bankman-Fried, in agreeing with Behnam, said he’d prefer the CFTC help provide more regulatory clarity, adding, “I would love to see the CFTC play a more active role.”

Fast-food behemoth McDonald’s is apparently drawing up plans to become part of the metaverse, according to the company’s recent trademark applications.

The world’s largest restaurant chain has filed ten applications to offer virtual goods and beverage products in the form of downloadable media files that will contain non-fungible tokens (NFTs). The Chicago-headquartered company is preparing to operate a virtual restaurant featuring actual and virtual goods. McDonald’s also plans to organize various entertainment events, including concerts, in the metaverse, according to one of the trademark filings.

Here are the top 10 cryptocurrencies and their prices on February 10, 2022 (data from coinmarketcap.com at the time of publishing this article)

Bitcoin $43,746.49 or 0.88 per cent gain in the last 24 hours

Ethereum $3,193.14 or 3.77 per cent gain in the last 24 hours

Cardano $1.17 or 1.08 per cent gain in the last 24 hours

Tether $1.00 or 0.02 per cent gain in the last 24 hours

Terra $55.84 or 0.58 per cent loss in the last 24 hours

XRP $0.8617 or 1.40 per cent gain in the last 24 hours

Solana $111.27 or 0.42 per cent loss in the last 24 hours

Avalanche $81.59 or 4.24 per cent gain in the last 24 hours

Binance $1.00 or 0.04 per cent gain in the last 24 hours

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first published:February 10, 2022, 08:54 IST
last updated:February 10, 2022, 08:54 IST