Both Bitcoin And Ethereum Begin February on a good note

The crypto market set off to a good start at the start of 2023. The second month of the crypto market started with a green streak. The leading cryptocurrencies are experiencing relatively better growth rates.

According to CoinMarketCap, Aptos (APT) was first in the trending list, followed by Bitcoin (BTC) and Polygon (MATIC), respectively. Moreover, the cat-themed meme coin Big Eyes Coin (BIG) is doing big things in the crypto market.

The top gainers were dYdX (DYDX) and Render Token (RNDR), whereas the top losers were Threshold and UNUS SED LEO.

Bitcoin and Ethereum

Currently, the global crypto market capitalization is $1.04 trillion, a 0.46% increase in the last 24 hours. At press time, the dominance of Bitcoin was 42.49%, an increase of 0.10%.

For the past six days, Bitcoin’s price has been swinging between $22,500 to $23,200. On February 1st, the BTC market opened at $23,044 and gained 0.69% in the past 24 hours. It has increased by more than 1.86% from the past week.

After a week, Ethereum is back with a positive streak. Today the Ethereum market opened at $1,581, an increase of 0.60% from the past 24 hours. News of upcoming upgrades on Ethereum might have increased the price of ETH.

DeFi

Avalanche experienced the highest growth rate since August 2022; AVAX surged by 14% higher this weekend. At press time, AVAX is trading at $19.17, down by 1.79% in the past 24 hours.

Aave was up by 0.53% in the past 24 hours, trading at $81.59 with a trading volume of $66,332.

Meme Coins

The dog-themed meme token Shiba Inu (SHIB) has outperformed other top cryptocurrencies in this new year. The leading cryptocurrencies, Bitcoin and Ethereum, lag slightly behind Shiba Inu in this weekend’s crypto market.

According to CoinMarketCap, Shiba Inu is trading at $0.000011 at press time, down by 0.62% in the past 24 hours. At the start of 2023, SHIB experienced a near 40% growth rate.

Twitter CEO Elon Musk’s favorite, Dogecoin (DOGE), is trading at $0.098, up by 0.07% in the past 24 hours.

The crypto meme community was trying to prove they were not just a funny memecoin but would also be considered a leading crypto start-up company.

Big Eyes, the current star of the crypto community, is expected to raise an additional $12 million by the month’s end; it has raised $18 million.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing